Its initiative was announced yesterday at its packed annual conference in London.
During the presentation by its Group Operations Manager Phillipa Legg she asked the 400 or so delegates what an iBuyer model was, but just one stuck their hand up, highlighting the uphill task the Guild has to persuade UK agents to embrace this very American idea.
Over the pond approximately 5% of homes are sold via iBuyer platforms such as Zillow but in some states up to 40% of vendors consider using them.
Like its US counterparts, the Guild’s new OfferHive platform will enable agents to find buyers for properties whose vendors cannot wait for a buyer via the traditional sales process.
It will also pay agents a fee both when the property is bought via an iBuyer and also when it is later sold on.
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