Nested, the online estate agent which aims to overcome the problem of chains by offering sellers an advance of up to 94% of the value of their property, has been named as one of ten disruptive companies to keep tabs on.
The Sunday Times Fast Track 100 yesterday listed Nested as ‘a disruptor to watch’.
Remarkably, it is the only agent to merit any kind of mention, either in the main listing or the ‘disruptors’ section. Also missing are any suppliers to the industry such as proptech firms.
The Sunday Times noted that Nested has sold more than £100m of property since 2016 and raised £165m in funding, including £120m in November from investors such as Northzone.
Nested came third in The Negotiator’s awards category for Hybrid Agency of the Year on Friday. It was beaten by EweMove in first place, and Doorsteps.
Other winners in the long awards list included Viewber, Reapit and Goodlord on the supplier side, and agents Dexters, Linley & Simpson, Thomas Morris and Maxine Lester.
They have raised alot of investment capital…wow! But it’s London specific, so whilst this is a clever idea, its greatest threat is market conditions and timing. We will see how much longer investors are prepared to buy into this area of the market. Bold statement that Nested will take the hit for any losses on lending, but the key is LTV and if they get it wrong through their desktop valuations, it won’t tale too much blood on the carpet for investors to get wary. The concept is great and would be an answer to the problems of UK property if the mainstream banks signed up too! Its ‘webuyanycar’ but renamed webuyanyhouse and of course selling property is not as instant as cars.
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