A new online estate agent has created an online platform that aims to disrupt the way commercial properties are sold.
The founder and CEO of Virtual Commercial, Andrew Vertes, an experienced estate agent, observed how residential house selling had changed over recent years. Websites like Purplebricks list residential properties all over Britain and make it easier for people to search for a new home. Vertes thinks that the same approach can work for commercial property.
The Virtual Commercial site will deal with both commercial property sales and lettings. Vertes said:
“We’ve watched closely as the long overdue disruption of residential estate agency has gained momentum, and it’s clear that the consumer welcomes a model based on a fairer fixed fee, a higher expectation with regard to the service delivered, and a greater deal of control and transparency when managing their sale.”
He claims that the commercial property market is more old-fashioned and inefficient when compared to the residential market and has failed to adapt to the online world. A property registered with Virtual Commercial is advertised on major property websites for a charge £297 for three months of property marketing and £798 for unlimited listings. This is cheaper than using conventional estate agents,
If the website is successful it could mean that it makes it easier and less expensive to sell commercial property. Investors may still need a commercial mortgage to finance purchases, which they can arrange through a commercial mortgage broker.