New homebuying platform to dramatically slash transaction time
OneDome’s new homebuying platform is to cut average transaction time of 20 weeks in half once it is launched.
The homebuying platform set up by a challenger portal, OneDome, expects transaction times to be cut to just six weeks and has said they will donate £100 to charity for every transaction it fails to complete within 10 weeks.
A letter to agents from OneDome chief executive Babek Ismayil says:
“I have always been astounded by how unhappy buyers, sellers, agents, conveyancers and brokers are with the homebuying process and how little it has evolved over the years. At times, it feels like it has become worse.”
More details of his new platform will be released in the coming weeks, but Ismayil says it will “make data easily accessible for all parties and automate certain basic tasks in order to achieve greater efficiencies.”
He continues: “We have built a platform that doesn’t only offer visibility of the transaction to all parties involved, but actively coordinates and manages the transaction based on a specific timeframe.”
“The design and functionality of our platform provides you with the control you need to streamline processes, increase productivity, and in turn, grow revenue” he says.
Ahead of the launch, he has asked agents with “suggestions, ideas or frustrations” to leave a message on the OneDome community page.