Rightmove is now offering
an option that enables buyers of selected commercial properties the option to
submit offers and digitally exchange contracts online.
The six month trial using the Clicktopurchase platform is available on properties being sold by agency Singer Vielle. It enables offers to be submitted by private treaty, as best offers, or during a real time auction, depending upon the method of sale selected by the agent and vendor.
Clicktopurchase is a
platform that enables a legally binding exchange of contracts online.
Acceptance of an offer results in legal contract execution and the transaction
audit trail and contract are underpinned by Blockchain.
Rightmove’s Head of
Commercial Alex Solomon explains: “Trialling a route to this technology
through Rightmove will give potential buyers the chance to do everything
online, from property search to legal exchange. By offering this to the UK’s
biggest commercial property audience we’ll find out how much of an appetite
there is for a solution like this.”
Few would disagree that the ultimate holy grail for many in the property industry would be the ability to conduct residential property transactions instantly online, with much the same ease as buying a TV or booking a flight. While that may be some years off this trial with commercial property will certainly help Rightmove understand how that might work.
Another interesting point to muse upon here is that this trial perhaps suggests that Rightmove have designs on becoming more than just an online property portal.