In an effort to stimulate revenues, OLX, the leading online classifieds platform in Kenya has rolled out a new service to its users, that will handle the entire selling process on behalf of vehicle sellers. The new service has been dubbed “sell it for me” and it is meant to assist traders in transacting safely and conveniently on the OLX platform.
OLX country manager Peter Ndiang`ui said that interested sellers would be required to pay an agreement fee of Sh2,000 to have the firm sell their cars on their behalf. Once a successful trade is made, OLX will then make four percent commission on the value of the vehicle sold.
Ndiang`ui claims that over 100,000 vehicles are traded annually with at least 40 percent finding their way on OLX, creating an opportunity for the firm to expand its portfolio.
“Introduction of these two items direct payments to OLX and OLX champs to handle selling transactions, are a definite value addition to our users who are always seeking safety and convenience when trading online. People should also note that those wishing to continue with a hands off buying and selling on our platform, are still free to do so,” said Ndiang`ui.
Money from transaction will be held in an escrow account and transferred once the sale is complete.
OLX will handle the entire selling process from posting the advert to sourcing a buyer, negotiating and finally closing the deal.