A proptech platform for sales agents that hopes to significantly reduce agents’ fall-through rates has signed up former Douglas & Gordon director and Viewber co-founder Ed Mead (above, right) help launch the business.
Property Information Packs (PIP) is the proptech brainchild of agent Tim Main (above, left) who in the past has worked for Savills and Balfours and who expects to officially unveil the platform nationally in three months’ time.
He also says offering house hunters a ‘HIPs’ style online depository where they can see more detailed information about a home for sale at the browsing stage will help ensure that only more serious potential buyers make an offer on a property.
This, Tim claims, will both speed up the sales process and prevent fall-throughs, which he says is one of the most serious challenges facing the industry.
Also, eventually online listings on the main portals may include links to PIP’s platform in the same way they currently feature EPC and floorplan information. PIP has been co-founded by Main alongside online auctions pioneer David Sandeman of EIG (above, centre) and legal services businessman Steven Foden.
It is being tried out by several agents in Shropshire and is based on the tech developed by EIG to enable prospective online auction bidders to download ‘legal packs’ about a property.
PIP’s service is free to use until a sale goes to SSTC, at which point an agent is charged £25.
“I think agents realise that something’s got to change if the industry’s fall-through rate problem is going to be solved, and that putting the information up front is one answer,” says Main, who also sits on the Kate Faulkner’s Home Buying and Selling advisory group.
“The agents who have heard about PIP are coming on board and welcoming the idea, as have solicitors.”
Find out more about PIP.