A PropTech start-up led by a prominent commentator has become the latest part of the industry to take a pop at portals for putting profits before people.
Twindig describes itself as an investor-backed service “committed to putting trust and transparency back into the property industry, providing admin management tools” to free up agents and developers to focus on improved customer service.
Its chief executive is Anthony Codling, a former analyst at Jefferies investment bank and best known for a searing critique in 2018 on Purplebricks’ sales record.
In his new role, Codling has released details of a recent survey - albeit of only 300 sellers, buyers and owners - which shows an overwhelming demand for more transparency in the buying and selling process.
Some 94 per cent of buyers and 83 per cent of sellers said that there wasn’t a high level of trust within the overall property buying process.
And 70 per cent of sellers and 84 per cent of buyers said they would like to feel more knowledgeable and confident about the house buying/selling process.
When it came to transparency, 100 per cent of buyers and more than two thirds of sellers said they would like to see more.
“Our research confirmed what you already know, that we lack the trust, confidence and control required in the process buying, selling and managing our homes. Portals are doing nothing to address that – they are simply profiteering” he says.
He says the past week has seen Rightmove, Zoopla and OnTheMarket attempt to beat each other with what he calls “tokenistic cuts” adding that “it only goes to show that portals are putting profit ahead of people.”
Codling continues: “Portals do not sell property, people sell property. Estate agents and house builders have done, are doing and will continue to play the most important role in the cycle of renting, buying and selling homes. Twindig is here to support the industry rather than cream excess profits from it.”