A business claiming to be the UK’s first commercial online agent, Virtual Commercial, is launching a funding round via crowdfunding platform Crowdcube.com.
Virtual Commercial aims to raise £300,000 with the campaign due to go live this weekend.
The investment will facilitate the company’s further growth.
Initially, the round will only be open to private investment until 20% of the total has been raised when it will then be opened up to the wider public.
Virtual Commercial is the brainchild of CEO Andrew Vertes and co-founders Laurence Herzberg and Aron Maus.
Vertes is a highly experienced commercial estate agent, previously running the long-established agency at Reiff & Co.
He had observed the changing face of residential estate agency and felt there was a gap in the market for the commercial sector.
Reiff & Co, where Vertes was a director, was sold in 2015, enabling him to start Virtual Commercial.
Since then, Virtual Commercial has developed a committed product for the commercial sector, dedicated to sales, lettings and business disposals.
Vertes said: “We’ve watched closely as the long overdue disruption of residential estate agency has gained momentum, and it’s clear that the consumer welcomes a model based on a fairer fixed fee, a higher expectation with regard to the service delivered, and a greater deal of control and transparency when managing their sale.
“The commercial sector is far more antiquated and fragmented than the residential sector, meaning that there is a huge opportunity to gain market share from the incumbents who as of yet have failed to adapt to the changing environment of the UK property market.
“We’re proud to be leading this change in the commercial sector, and of the growth we’ve already achieved since launching the business.”
Virtual Commercial offers three packages: a free toolkit providing marketing materials and a listing on its website; a marketing package for £297 with three months of marketing on all the major portals; and a package for £798 which includes an unlimited listing on all of the major portals, negotiation, plus drafting head of terms and deal progression.