Property data and estate agent prospecting platform Homesearch has launched a property search engine.
The new platform allows buyers to search for off-market properties, with agents then approaching homeowners to check if they would be interested in selling.
Homesearch says the tool will reduce both consumers’ dependence on portals—with up to 100 times more property results than traditional portals—while also increasing the volume of instructions and revenue for agencies.
Estate agents will be able to white-label the portal for their own use as an alternative to Rightmove and Zoopla, with a differentiated offering of off-market properties that the UK's major portals can't match.
Agents will be able to market the tool with their own branding and URL, with prices for the service starting at £295 per month.
Giles Ellwood, CEO at Homesearch, said:
"We’re extremely excited to be the first to develop and launch a whole-market property search engine that will truly revolutionise the industry.
"Being able to offer your buyers and sellers the entire market, rather than just the 1% of it on Rightmove or Zoopla, is why we see this new product launch as truly disruptive."
"Every estate agent in the country is confronted by potential buyers and sellers who hold off coming to market because they are frustrated by the small fraction of properties available on portals. Sellers won’t sell because they believe they won’t be able to buy, whilst many buyers have given up all hope of ever finding their dream home in the current climate.
This is the biggest challenge currently facing the housing market and we’ve developed a proptech solution that not only addresses the problem but transforms the way a property is prospected, bought and sold, with agents right at the heart of it."
Homesearch closed a Series A funding round worth £5m in January this year. The round was led by Octopus Ventures, the firm that originally backed Zoopla.
Homesearch's website claims that the platform has 'the most comprehensive information on every home in the UK and all the tools needed to stay ahead in the property market'—including 29 million addresses and a GDPR compliant on and off-market prospecting platform.