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TODAY'S OTHER NEWS

Homes can sell two months quicker, claims 'intermediary' platform

A platform which signs up vendors and allocates their sale to a high-performing local agent says it sells property two months quicker than the traditional agency model.

Movewise - which launched two years ago under the name BestBid - does not sell homes directly but signs up vendors. 

It then analyses local estate agency data to identify what it believes to be the best performing local agent.

Movewise negotiates the commission directly with that agent and puts 0.25 per cent on top for its own fee; sellers pay only one charge, to Movewise.

“If the first agent doesn’t deliver results fast, the property can be listed with another agent fast” says a statement from the company.

“Properties sell faster (typically two months faster) and for more money (typically three per cent more) than using the traditional estate agent model” the statement continues.

Movewise says it’s listed more than £70m of properties in the past year and chief executive Tom Scarborough comments: “Most sellers list with a single estate agent, and most estate agents only sell about 50 per cent of the properties they list.” 

“Contrast that with professional property developers, who usually list with multiple agents and manage them on their terms. They would never list it with one agent and just say ‘Good luck, let me know how you get on.'

“Selling the most valuable asset you’ve ever owned shouldn’t be left to luck. Movewise is here to professionalise property sales for everyone.”

Movewise has attracted £1.1m of funding, including a recent round of £600,000, from investors including Hambro Perks, Indeed.com co-founder Paul Forster and LoveFilm co-founder Simon Franks, among others.

Movewise says it offers “a ready-made listing” to the agent selected, if they wish to take on the instruction; Movewise handles photography and floor plans.

  • icon

    Game-changer.

  • Where Is The  Monii Money

    Where's the analysis to prove this claim? And the follow-up question is, what is meant by sell?

    Zoopla says that it takes an average of 50 days to sell. Let's say two months is 60 days. If sell is time on the market, then it's a "Back to the Future" moment. Hidden in the small print is the right to change agent if a buyer is not found which must then increase the time on the market.

    Taking the value of the property listed and dividing by the UK average house price, we're looking at around 200 properties listed. Statistically, a third will complete, so a best guestimate on revenues is around £120,000.

    That's not bad for what is intrisically a photography and floorplan company!

  • Paul Barrett

    Or better still just list for free on the major web portals bypassing all EA etc.

    Can't get cheaper than free!!

    No intermediary required!!

    I reckon most vendors could sell for the price they want.

    icon

    Doesn't exist no matter how many times you try to convince us (without providing credible links).

     
  • Paul Barrett

    Free listing on the major web portals by private citizens via a particular company doesn't exist!!??

    OK if that's what you think
    I know different!!

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