A proptech company backed by a major high street bank has launched a joint venture that offers estate agents a white-labelled platform to manage every aspect of the home selling and buying process from first enquiry to completion, all inside their own branded website.

Called Transact, the tech is a partnership between Barclays-backed digital buying platform Offr and website specialist PropertyStream.

It has issued a joint statement claiming that the new initiative is the industry’s best ‘all-in-one’ answer to the Government’s consultation on the looming digital reforms to the home buying process.

The platform can also help manage tenancies, new homes sales and auction sales processes.

Ministers earlier this year said they believe the process not fit for purpose given that getting to completion can take up to 170 days and a third of transactions fall through, pointing to ‘up front information’ and digital identity verification as the main solutions.

Transact enables agents to capture leads, qualify buyers, manage offers, automate communications and provide buyers, sellers, landlords and tenants with secure online dashboards throughout every stage of the transaction.

This includes doing the more mind-numbing elements of the process including enquiry management, offer handling, customer updates and transaction communications.

Digital convenience

“Consumer expectations have changed,” says Robert Hoban, Founder and Chief Executive at Offr (main image, right).

“People expect the same level of digital convenience from buying, selling or renting property as they experience in banking, travel and retail.

“At the same time, government reforms are accelerating the move towards a more digital property market.

“With Offr, a full digital sale pack can be built and published in a secure data room ahead of a sale, giving registered buyers the certainty and transparency the new reforms are designed to deliver – before they’ve even made an offer.

“Transact brings together everything an estate agent needs, from attracting new business through to managing offers, progressing transactions and keeping customers informed, all within their own branded website, and integrated with their CRM.”

Robin Arnold (main image, left), Founding Partner at PropertyStream, adds: “Estate agency websites have traditionally been built to generate leads, while the transaction itself has happened offline. We saw an opportunity to completely rethink that model.”