Agent who saw valuations slipping into online instructions launches new service

A new offering has launched, allowing high street agents to provide an online service without needing to build their own bespoke platform.

Hystreet is the brainchild of Awais Ahmad, who has worked as an estate agent in the UK, Germany and Dubai, including for Countrywide brand Bairstow Eves.

He told EYE: “Two years ago I sat in my branches watching an ever increasing amount of valuations go on to instruct hybrid or online agents.

“When looking to software providers to see if I could also offer a hybrid service alongside my high street service, I found there were no software or CRM systems out there.

“So I decided that given the success of the hybrid offering and given that Countrywide, Connells and more recently LSL have announced they would all be offering digital estate agency offerings, it was about time that independent estate agents like me had a platform they could white label and offer their own hybrid offerings from the high street.”

Ahmad added: “High street agents have been losing more and more business.

“A lot of agents are spending time going to valuations and subsequently losing out to companies like Purplebricks, as sellers are attracted by the reduced fee and the convenience of a 24/7 online platform.

“My vision is to provide a software platform that any agent can use to offer the advantages of an online/hybrid service with the benefits of a highly experienced local estate agent.”

The Hystreet platform is fully brandable, and claims that it enables high street agents to offer their sellers and buyers an intuitive online service with the functionality of onliners.

Customers can request valuations, book viewings, make offers, provide feedback, negotiate a sale and communicate with their dedicated estate agent – all through their computer, tablet or smartphone, and at a time that suits them.

Ahmad said: “Estate agents who have trialled Hystreet so far also love the fact the system automatically takes care of ID and AML checks as well as property fact finding, freeing up their time to focus on what they do best: selling houses.”

He added: “Online agents will need to up their game significantly in order to remain competitive, especially since some are estimated to spend £1,000 to £12,000 acquiring each listing – much higher than their high street counterparts.”

Monthly costs per branch are £395 plus VAT per branch.

The offering joins new competitors in the market, including Yellow Brick Abode and Lov2Move.

https://www.propertyindustryeye.com/independent-firm-offers-industry-new-online-agency-offering-and-its-free-to-vendors/

 

New service launches giving high street agents chance to take on the onliners

hystreet.co.uk

 

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9 Comments

  1. dylan00169

    About time us independents had something to properly counter online agents.  Love2move looked exciting until I realised we would be growing someone elses brand. Our local brand is one of the main advantages we have over online agents.

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  2. cyberduck46

    I doubt you can cut out the middle man though allowing buyer/seller to communicate directly 24/7.

     

     

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    1. Hystreet

      Great point, thats why agents can choose to be as hands on or off as you or your client want. Some clients want the agent to be actively in the middle and Hystreet facilitates that. Others want a truly 24/7 hands-off service and the systems supports that too. By allowing communication, we’re cutting down on the work required by agents allowing you to focus on your traditional offering. This essentially is there to help you monetise those listings that you currently are seeing walk out of the door and into the hands of the online agents who are in some cases less experienced and not as local. The system is built by high street agents for high street agents.

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      1. cyberduck46

        It sounds like the functionality is there but I’m not sure agents will want buyer & seller communicating. If the agent opts for all communication via the agent then this will limit responses to working hours which is a negative when comparing with PurpleBricks for example.

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        1. Hystreet

          That’s entirely up to how the agent wants to use the system – it is mobile friendly and accessible 24/7 for agents and clients, so agents do not necessarily need to be in the office to communicate. Hystreet has been built to fit around each agents individual needs, as it’s purpose is to supplement their main offering, NOT a total upheaval or replacement to their way of working. i would assume you would get a similiar speed of response from a Hystreet Agent as you would from a PB agent at 4am in the morning for example, the reason it is 24/7 is that human interaction isnt required to book a viewing or a valuation for example. But we are more than happy to arrange a demo for you if you like?

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  3. jamesstephens7756

    I wouldn’t want to be Ian @ martin and co paying around £10 million for ewe moves bedroom agency when he could have just paid per month for this across their 200 odd branches. I’m wonder how long it will be until these guys will be snapped up by ZPG, to be honest we all know that as agents we need to offer both services to survive in a world of uber, skyscanner and robo mortgage advice.

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  4. Trevor Mealham

    Just looked at the url – a video plays.  Really don’t see why agents are offering budget agency. Other than they can’t pitch to get their fees up.

    As a vendor I’d be worried – could a budget agent unable to gain a decent fee, be able to even negotiate their way out of a paper bag.

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    1. Hystreet

      Trevor spoken like a true high street agent, and we agree! The systems is built to allow high street agents to keep offering the normal service but monetise those listings that are clearly going to online agencies for cheap fees and 24/7 convenience as well. Our agents offer both services because as they see it why let the cheap fee service be capitalised on by these newbie online agents when high street agents can offer the same using hystreet and charge more than the online agents do!! Hystreet aims to bring tradition and technology together.

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  5. MrM07

    Sounds interesting, but only in so much as it allows your customers the ability to log in 24/7, and basically (buzzword alert) take control of their process.

    At nearly 5k a year (no doubt that will rise exponentially as/if you gain traction) wouldn’t it be easier for agencies to build their own platform, even if it is a simpler one?

    With the increases in technology these days I am certain that it wouldn’t the *that hard.

    But a very interesting concept, nevertheless.

    Regarding the I.D & AML checks, does that mean you have insurance to cover any HMRC penalties should they arise? Presumably your checks are bulletproof negating the need? I am only curious as with the aggressive stance taken by the HMRC perhaps including this functionality will be your raison d’etre.

    Interesting.

     

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