The Smart Property Transaction - Cita · Former CEO of Real Estate Alliance, the largest nationwide...
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Transcript of The Smart Property Transaction - Cita · Former CEO of Real Estate Alliance, the largest nationwide...
Founders
Robert Hoban BA LawCEO
Philip Farrell FSCSICCO
Former Director, Bidx1, online property auction technology.
Former Director & Senior Auctioneer, Allsop Ireland.
6,000 properties auctioned / €1 billion in property sales.
16 years’ industry experience.
Formerly, Savills Country Homes.
Former CEO of Real Estate Alliance, the largest nationwide group
of chartered surveyors in Ireland.
Media commentator with 30 years’ experience in the estate
agency sector.
Advisor to several industry bodies and networks.
Niall Dawson BScCTO
Former Head of Technology and co-founder at Xsellco.
Over 20 years’ experience designing and building tech solutions
in a variety of sectors including pharmaceutical, defence,
recruitment and sport.
Xsellco placed 1st in the Deloitte Technology Fast 50, Ireland's best
known technology growth index.
Existing property
sales process:
‘Launch’ ‘Completion’
7-12months
fast | transparent | reduced costs | 24/7 real-time updates | online legals | end-to-end | enhanced MI
3months
no transparency | no vetting | failed sales | contract delays | telephone tag | 100% manual | delayed fees
The challenge
‘Completion’‘Launch’
The way it should be:
Platform for Agents
End-to-end Process
Property Marketing
White Label Widget
Online Private Treaty Process
Online Auction Process
Pre-Qualified Buyers
Viewings Booking Facility
Legal Documents Vault
Online Due Diligence
Online Contract Signing
Real Time Dashboards
Portfolio Management
The solution
Pre-
Marketing
Completion
Property
Portals
Auction
Platforms
Online
Agents
Seller
Buyer’s
Solicitor
How it works
Buyer
Seller ’s
Solicitor
Building
Surveyor
Energy
Assessor
Insurance
Provider
Buyer’s
Lender
Bank
Valuer
Seller’s
Bank
Estate AgentSuper Administrator
€
The widget
See offers in real time
Keep track of deadlines
Place offers securely
Confirm offer conditions
Upload proof of funds
Book viewings
Download contracts & title
Book a viewing Review legal documents Submit an offer
Latest offer
Transparency, speed, complianceSee all offers in real time. Introduce offer deadlines.
Offer transparency
Speed & flexibility of sale method
Instant AlertsNotification of all new offers, viewings, documents, exchanges, completions
Client dashboardsReal time record of all offers and activity, 24/7 on mobile or desktop
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2
Seller
25 Verschoyle Park, Dublin 24
6
2
Buyer
25 Verschoyle Park, Dublin 24
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Online
Private Treaty
Fast, flexible sale completionSwitch between Private Treaty, Auction or Tender, mid-process, with a single tap
Digital Contracts
Signed in Seconds
Agent
Commercial
Online
Auction
Online
Tender
Residential
Online
Private Treaty
Online
Auction
Encrypted conveyance roomInnovative technology seamlessly connects both solicitors
Track all legal docs in the
Document Vault
Track all download activity
by prospective buyers
Track all key
communications
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3
Dashboards providing real time Management Information (MI)
Dashboard ReportingLive, real-time updates on interest
levels, offers, completions and
cash collections
TransparentRecord of all registered offers and bidders
across the entire portfolio
Reduction……of average time to
completion by over 50%
ForecastsAccurate reporting and
forecasting of exchanges and cash
collections
Online legal documentsLive tracking of legal document
activity across the portfolio
Online exchange and
conveyanceInstant signed contracts using
DocuSign and single click sharing
of queries and replies
Risk managementCross portfolio tracking of buyers
with AML and proof of funds
compliance
Powerful tool for asset management clientsNext generation Management Information (MI)
Speed of completion
Quicker fee payment
Happy client
Value
proposition Staff Costs
Overheads
Rate of fall through
Speed of completion
Quicker fee payment
Happy client
Execution risk
Costly delays
Frustration
Competitive bidding
Maximum sale price
Transparency
Trust
Communication
Amount of
chasing by estate
agent and client
End-to-end
Live data
Control
Speed
Real time MI
Delays
Frustration
Costs
Management
platform
Live data
Convenience
Control
Live updates
Time to draw down
Rate of fall through
Customer experience
Conversion rate
Live data
Connectivity
API feed
Buyer
Estate Agent
Solicitor
Bank
Seller
