The new Propcision website says it now has a tool which allows users to see the marketing histories of London properties listed on Rightmove - and so see those which have had their prices reduced.
Currently Rightmove does not have this feature; Zoopla does have some price-drop information but has lost some London listings to OnTheMarket, which makes a point of saying it will not carry marketing histories.
However, the Propcision tool is likely to be usable on almost all London listings because of the strength of Rightmove.
Propcision, set up during the summer, offers an internet browser add-on that plugs into Rightmove. “Estate agents as well as buyers may welcome such a tool as it encourages footfall again as the weather cools and generates interest in properties that a vendor needs to sell” says a spokeswoman for the website.
“It’s like hitting the sales racks at Primark on Black Friday” she adds.
Propcision adds further filters such as ex-local authority, purpose-built, properties requiring work or having planning permission, auctions, cash-only purchases and rental yield.
The website is the brainchild of Michelle Ricci, the former head of a team of analysts on a credit derivatives trading floor, and Julien Zak, a quantitative developer for major banks. Its first offering was a yield-calculator for prospective buy to let purchasers, estimating rental income from Rightmove listings.
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This isn't new! property-bee.com does this already but for the whole country not just london
@ Cat Lamond - Interesting. Thanks for the heads-up.
So agents can use this to see which agents are reducing asking prices and then still claiming they achieve X per cent of asking prices for their clients??
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