A new PropTech venture aims to do what the ill-fated Veyo system failed to achieve - creating an online platform bringing buyers, sellers, agents and conveyancers together to share information.
The platform, called Track My Move, comes from a start-up company called Properr. It cannot be faulted for lack of ambition - it says it aims to “transform the entire home buying process...it could cut the standard home purchase transaction time from an average of 10 weeks to just two days.”
The Track My Move dashboard aims to contain all the key information required by buyers, sellers, agents and conveyancers.
“Estate agents can continue giving a face-to-face service to their customers, but reduce their administration and cashflow issues because of the reduction in time it will take for the sale to go through” according to a statement by founder Owen Derbyshire and chief technical officer Steve Talbot.
The pair say they have signed up independent estate agents across Wales ahead of a national UK roll-out.
“The current process of buying or selling a house is archaic, inefficient and stressful, with the average transaction taking between 10 and 12 weeks. Despite it being the biggest transaction most people will ever make in their lifetime, buyers and sellers often experience frustration over the lack of transparency in the process. Meanwhile, estate agents’ cashflow is affected as they don’t get paid until the transaction is complete” says Derbyshire.
“We’re working with partners and regulatory bodies to ensure the platform works for all parties and meets everyone’s needs from offer through to completion and post-completion. That means our customers are in total control of every element of the transaction and can effectively track their move from day one” he adds.