PHOTO: SUPPLIED Nelson real estate agent and entrepreneur Mike Harvey
A Nelson entrepreneur has launched a new pre-market property app which he says could save vendors thousands of dollars in real estate agent commission payments.
Green Door real estate agent Mike Harvey launched the Yelsa app near the end of April, with about 400 vendors and potential buyers having already signed up.
The app works by using an algorithm to match prospective buyers with vendors, based on their search criteria, and would give buyers early access to properties before they go on the market.
Harvey said the new model meant homeowners could be put in direct contact with prospective buyers, and could prequalify buyers by inviting only those they select to view the house or make their profile public.
“This product brings in technology to reduce the cost of sale, which is huge.”
“Under the new model, buyers will have direct contact with vendors who are prequalified based on their specific criteria which means owners will know whether they are preapproved, have pets or just need somewhere to park their boat – all before they see the property.”
Harvey said vendors would pay a one-off $500 fee and could then invite an unlimited number of potential buyers to view their property profile.
Real estate agents could also be brought in at any stage of the process – although at a reduced commission fee of 1 per cent.
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