Online portal-style platform will charge agents if it finds buyers

An online intermediary platform called OpenMoov has been set up which instructs agents on behalf of sellers and tenants - and charges estate and letting agents if it finds a buyer or renter for a property that it lists. 

OpenMoov’s website says to customers: “You choose the services you want and how you want them. We are not an estate agency but we work with estate and letting agents to provide you the very best service and the best value for money. ... You instruct OpenMoov and not the agent giving you freedom. If you choose to use an agent we will instruct them for you. If you are not happy with the service level provided just get us to switch you to another agent or share with multiple agents.

We look forward to working with you.”

In another part of the site, aimed at estate and letting agents, OpenMoov says: “When we provide you with properties to sell you agree to pay 0.2 per cent of the fee/commission received to OpenMoov.co.uk. When we provide you with lettings you agree to pay 20 per cent of the fee received.”

A statement from the platform, released over the Christmas break, says it allows customers to initially choose a no frills option but upgrade to additional services later. 

It also describes its concept as “a property portal, platform and agent all in one” with the ultimate ambition of becoming “the ecosystem for all property transactions.”

OpenMoov also says its customers will be able to rate agents working with it. 

“An algorithm ... monitors how responsive the agent is, how quickly they respond to messages and viewing requests and, like a computer game, they get points for performing well. The higher the points, the higher the rating and the more business that OpenMoov will give that agent. This simple mechanism constantly increases the quality of service the consumer receives making the system and the agents better” says the platform.

You can see it here.