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Property Chain Logger

Submitted by: Yan
Created: Apr 21, 2007, 5:48 am

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The Idea

A policed linking mechanism that allows the Vendor, Buyer, Estate Agent, Conveyance, Mortgage Broker, Surveyor, Energy Surveyor etc to access and update their element of the milestones within their respective field. Thus avoiding wasted telephone chasing and reducing the vast waste in abortive transactions and highlighting the professionalism of the professions and bonding commitment from the vendor/buyer to a timescale and highlight what they have or haven't committed to.

I thought of this idea when I was...

20 years in Estate Agency. And the commitment to put my money help and experience to make the idea commercially viable

Comments Posted

mustang4 Posted: April 21, 2007, 9:36 am

Hi there, I think it would be a good idea, having only bought two properties I think it would be good for a home buyer to be able to see all steps involved on one document, the only thing is here in the U.S. all these groups think each piece of info belongs to them and probably would not want to share + all the privacy of info laws. Good Luck. bye

DiscWog Posted: April 21, 2007, 12:06 pm

Great idea! You'll need to approach the hundred of Real Estate software companies though to get them to add this to their software.

jill Posted: April 21, 2007, 4:26 pm

Get a real estate company to buy and use this. It could become an industry standard.

In western Canada, there was a new conveyancing protocol developed, arising from a similar motivation - to remove some of the noise and friction from the process of buying and selling real estate.

The key to success of this idea is adoption. However, if you get a big enough group of influential industry players to use it, their critical mass will be enough to give them a competitive advantage, and others will then follow.

At the bottom of the food chain sits the consumer - US! - and all we want is for the process to be reliable, simple, and as inexpensive as possible. Who wants to pay for wasted transaction fees?

Great idea.

Bluewookie Posted: April 21, 2007, 9:05 pm

Great solution for a very common problem.

Good Luck.

cwiddicombe Posted: April 25, 2007, 4:48 am

Check out http://www.keytrack.co.nz (no connection to me!). It operates here in New Zealand on a similar system as your proposed idea. It relies on signing up lawyers and agents to the system, but consumers (i.e. buyers and sellers) can also suggest to their agents that they use them.

PS I'd suggest tagging this idea with 'realestate'; it may help to market your idea to people with similar interests more effectively! :o)

Rizal Posted: April 30, 2007, 5:43 am

great idea

Allan Posted: May 8, 2007, 4:19 pm

I like it. We used an online conveyancer here in the UK about 5 years ago. THe idea was great, the reality was you still had to chase by phone as they were about a week behind updating the online records as all data was manually transferred.

So I would suggest researching the points where you could automatically hook into standard work flows - email being the obvious start point.

saigon Posted: October 20, 2007, 9:58 pm

great background and expertise...but i need to read some more details.

And yes i will be endorsing this to my brother who is into real estate too!

Hello!

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