A free global property listing platform is due to launch imminently, with ambitions to consign today’s portals to the past.
My Backyard will be available to agents and developers, as well as to private sellers and landlords.
The founder is Clive Cain, who says the site is powered by Blockchain, and will be very different from the likes of Rightmove.
Cain says that providers will be able to create their own listings and instantly connect, using social media channels to promote their properties.
Critical of existing portals, he said: “Most providers cannot list directly which means you have to go through agents, and agents pay web-portals a monthly fee to list and pass on charges to the end-user.
“This is slow and highly inefficient.
“I believe that the time is right to develop a digitalised model that can surpass that of Rightmove in terms of delivery, scale and one that works better for everyone.
“The idea that a start-up can take on the giant portals and beat them sounds ludicrous but it’s a fact.
“The reality is that the web-portal model will diminish with the advent of Blockchain, specifically digital conveyancing.”
He went on: “Real-time connectivity is key to the solution as a way to drive the sales/lettings process.
“Everyone can network and freely communicate directly via multi-messaging forums with all stakeholders including suppliers and communities searching for properties.
“Around 4bn people are now online and yet today web-portals are still delivering the same model from a decade ago that prohibits most providers from listing directly and visibility is limited to one or two countries.”
Cain says that Blockchain means that transactions can happen much faster: “You can find a property, sign a contract and make payment to secure a property with a much faster turnaround, from weeks to within hours. This is not fantasy, it is happening now and it’s what the future real-estate market will look like.
“I can soon envisage a real-estate market without For Sale or To Let boards as demand moves away from the high street to social media platforms.
“This does not mean a world without agents but a world where the role of the agent is recalibrated as DIY solutions become commonplace and the option to sell or let properties and land is as simple as clicking a button on your smartphone.”
Cain, who is Derbyshire-based and runs a relocation business, says he will have properties from day one of the launch, the exact date of which has yet to be announced but is likely to be about two weeks away.
While his plan is to take on the world, the site will primarily launch and be developed in the UK. Cain says he will embark on a series of fundraising rounds once it has launched.
‘Cain says he will embark on a series of fundraising rounds once it has launched.’
Now there’s a surprise.
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He states its not fantasy…..um yes it is.
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You failed to ask yourself one fundamental question Mr Cain, why would agents want to support a model that puts their properties alongside private listings?
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“Disrupting the global real estate market with P2P connectivity.”
(according to LinkedIn, that is…)
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Of course, I can’t imagine what could go wrong with a private “buyer” contacting a private seller direct….. let’s start with….. what to do when confronted by a stranger?
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About time, we have been stuck with rightmove and the like far too long. GO GLOBAL. This is the way forward, out of the dark ages. Agents a waste of time, on line agents have been the best option of late. We are very capable of uploading ourselves and analysing the market. Being a control freak I’m onboard. I have an apartment 795k and I am in waiting!
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Good luck with that.
Trust me – I’m currently an Estate Agent – “Being a control freak” is neither a qualification nor justification to taking on the job of selling your own property.
Keep us informed of your “journey”, though…
…I’d love to know which High Street Agent finally changes your opinion.
(by the way – for the avoidance of your doubt, “rightmove and the like” ARE GLOBAL. T’internet doesn’t stop at the UK coastline – clue is in the ‘www’ bit…)
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