A firm is claiming to be allow high street agents to offer vendors an online sale services as well, without the expense of setting up their own separate digital platform.
Hystreet says it wants to enter a market created by Countrywide, Connells and others who through investment and acquisition offer customers online as well as full-service options.
It claims to be a white-labelled online estate agent platform. It was developed by Awais Ahmad, a former estate agent, who says he was frustrated by the new breed of well-funded online services taking business from him and his high street competitors.
He says many of these new companies did not have the same experience or local knowledge as the high street agents and he envisioned a ‘hybrid’ that would combine the convenience of an online platform with the personal service of a traditional estate agent.
“A lot of agents are spending time going to valuations and subsequently losing out to companies like Purplebricks, as sellers are attracted by the reduced fee and the convenience of a 24/7 online platform. Until now, high street agents have been unable to compete” he says.
He says his Hystreet platform has the functionality of the fully-online agencies: customers can request valuations, book viewings, make offers, provide feedback, negotiate a sale, and communicate with their dedicated agent online.
The new platform operates for a fixed monthly fee of £395 plus VAT for a single office agency, with reductions for multiple branches. Ahmad says agents are not required to change their internal CRM systems.
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I wouldn’t want to be Ian @ martin and co paying around £10 million for ewe moves bedroom agency when he could have just paid per month for this across their 200 odd branches. I’m wonder how long it will be until these guys will be snapped up by ZPG, to be honest we all know that as agents we need to offer both services to survive in a world of uber, skyscanner and robo mortgage advice.
Im keen to see how this would work, because if their claims are true then this could potentially mark the end of the hybrid high street argument (thank god). Would be good to see how the onliners react now all of us will have a similar technology platform - I agree with you James no doubt Zoopla or maybe even Purplebricks will buy this up quickly, i would love to see Rigtmove buy them and stop the monopoly Zoopla are creating in the industry.
Hi Awais
The best of luck with your new venture.
Send my regards to Chas too!
Hmm, interesting. Will be fascinating to see whether this works or not.
With bot a property and tech background, I took up as an LPE with PB last year. The software they use is really no more than an online diary, coupled with listing pages that feed to portals. It's the business model that's driving it, including the way the LPE / LLE gets paid. Will have a look at Hystreet, there's definitely a gap for a white labelled version of this for sure, but PB is not a tech heavy company so will not be threatened by tech clones. Using something like Hystreet and adapting the business module is the best way ahead for those that can.
Anyone else having issues getting communication from Hystreet?
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