Movewise, which began life in 2019 as BestBid, has raised £600,000 from Hambro Perks, Paul Forster (co-founder of Indeed.com), and Simon Franks co-founder of LoveFilm that was sold to Amazon for £200m in 2011.
This brings total funding to date to £1.1m.
The funding will be used to further enhance Movewise’ end-to-end property sales technology platform, and grow the business through legal and landlord sectors.
Franks is reported as saying:
““I’m excited to be backing the team at Movewise. They provide a core service that is a superior way to sell a property for everyone, and a scalable market position that can digitise property sales with any estate agent in the UK.
“This is a very exciting solution to a legacy industry.”
CEO Tom Scarborough said:
“Our mission is to ensure all property sellers achieve the best price they can for their property.
“Approximately a third of properties will sell quickly in the first month. Two thirds of properties won’t be so lucky, which is when sole agents revert to price reductions, to the detriment of the vendor.
“Selling the most valuable asset you’ve ever owned shouldn’t be left to luck. Movewise is here to professionalise property sales for everyone.”
According to Scraborough’s LinkedIn page:
Movewise is pioneering a better way to sell property. We identify the best agents with technology and deliver a sales process tailored to the property. The agents deliver the marketing, buyers and viewings, while we provide independent advice, multi-agent process management and sales progression closing transactions rapidly. Agents give us corporate rates as we are a repeat customer and reduce hassle for them. We are powered by a deep technology stack allowing us to operate at scale and provide our multi-agent service anywhere in the UK with any agent for a sole agency fee.
Home sales firm which sub-contracts everything to other agents wins major backing
eh? Houses dont come on the market with facts… we have to manage greedy vendor expectations.
So what does this product do?
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So they take a commission for instructing an agent that uses Viewber instead of employing professionals to do the job. They negotiate a low fee which means they don’t get the best agents just the cheapest ones and then instruct a second agent on a Multi agent contract after 4 weeks and a third agent after 8 weeks all at low fees thereby precluding you from using the top agents in your area. So you get poor agents who don’t achieve best prices and pay Movewise a commission for this service. Sounds like a winner!! Great long term prospects with no repeat business and few recommendations.
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