Off-market platform plans UK expansion

Off-market property platform Invisible Homes is planning to expand throughout London over the next year and to cover the whole of the UK by 2024.

Originally launched in 2018 by former prime London estate agent, Mark Wells, Invisible Homes lets potential buyers communicate with boutique agents in south west London who are selling off-market properties.

The platform makes in the region of 20 property introductions to partner agents each month and has 25,000 registered buyers. 

It has helped secure sales of 50 properties in South West London, ranging in price from £400,000 - £4m.

Wells has revealed that the platform’s current focus is a relatively small area in South West London, incorporating Fulham, Chelsea and Westminster but it wants to expand throughout the capital into 2023 and to cover the rest of the UK in 2024.

He says: “With a proven model in place, in 2021 we stopped selling our own listings and instead opened up to agents, providing a new and effective platform to assist the buying and selling process.

“Invisible Homes supercharges ‘off-market’ selling for estate agents. 

“We give agents access to many thousands of motivated buyers for each of their listings.  

“Our platform chooses the most appropriate buyers first, and with no date stamp attached, the risk of a property becoming ‘stale’ is removed”.

The business is currently working with approximately 30 south west London boutique agencies.

Interested buyers and sellers register on the site and enter their property criteria, which is then matched with agents.

In the past four months, Invisible Homes has introduced more than 100 properties to agents with a total value of £160m.  

Member agents are given a three month free trial period, at which point they are charged a monthly subscription of £375.00.  

If a vendor is introduced direct to an estate agent and the property sells, Invisible Homes will take 20% of the net fee.

In March 2022, the value of sales agreed totalled £14.5m and generated agent fees in the region of £250,000.

Transactions ranged from a £760,000 flat in SW18 to a £4.75m home in SW7 and in both cases, Invisible Homes introduced the property and buyer to the appointed agent.