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TODAY'S OTHER NEWS

Reservation Agreement PropTech free to agents - not to consumers

A PropTech platform that aims to lock-in sellers and buyers via a mutually agreed reservation agreement system is being offered free to agents - so long as they persuade buyers and sellers to pay £199 for it.

BreezeMove is the latest PropTech platform to focus on efforts being made by the government and industry to speed up and make more transparent the current system of buying and selling.

It launches in September and claims to “streamline communications digitally between conveyancers, agents and clients so that they are all able to interact directly, 24/7” as well as providing up-front property information and locks in the parties via reservation agreements.

It also allows parties to a transaction to upload key documents, conducts anti-money laundering checks and has ‘milestone tracking’ to allow those involved in a transaction to know deadlines.

To be free to agents, the buyers and sellers in a transaction need to pay £199 on completion; the platform then pays agents a reported referral fee of around £500 per transaction once a house move completes.

BreezeMove claims to have already signed up a number of multi-branch estate agencies and conveyancer partners - not named publicly - “and is currently in discussions with some of the largest UK property groups with a view to them adopting the platform” according to a press release.

The company’s founder, Phil Melia - described as “an entrepreneur with a number of businesses under his belt and a seasoned property developer” - says: “Our platform won’t just change the game, it will re-write the rules of the game for estate agents and their clients creating faster, more certain and secure transactions with less money wasted and a less frustrating experience.”

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