Rush to digitise house buying process triggered by virus - claim

A company promoting a Blockchain platform with promises to speed up the buying and selling process claims the pandemic has proved the trigger for the industry to move increasingly towards digitisation.

Coadjute’s chief executive, Dan Salmons, has told Yahoo Finance UK that the rise of remote working among estate agents, solicitors and others has sparked a “sudden demand for digitisation” in recent months.

Coadjute’s platform promises to halve the duration of the sales process and end what Salmons calls “large armies” of workers needed by estate agents to check for and pass on updates among parties to a deal.

He tells Yahoo that previous attempts to reform and speed the process have been deterred by different parties to the process being reluctant to use one IT system. “People love new stuff, but they’re not good at giving up old stuff” he says.

But he insists that Coadjute - which recently signed a deal with agency software players Reapit, dezrez and MRI Software, as well as conveyancing software providers - could provide a saluted with a single shared record for each property. 

“With Coadjute’s tools, everyone involved has access to the digital record and a tracker lets them see others’ real-time progress and who needs to act next” according to Yahoo.

Salmons says Coadjute is currently raising cash through a “multi-million pound” funding round, as well as earning through software-usage fees.