UK property technology companies PropertyStream and Offr have unveiled a new transaction management platform named TRANSACT, which promises to transform the homebuying journey. The system is designed to oversee the entire process, from a buyer's initial interest in a property right through to the final completion of the sale. This integrated platform aims to bring a new level of efficiency and transparency to the often-complex world of property transactions.
TRANSACT operates as a white-labelled solution, meaning it integrates directly into estate agency websites, preserving their brand identity. It combines traditional estate agency web functionalities with advanced transaction management tools. These tools are engineered to empower agents to efficiently capture leads, qualify potential buyers, manage offers, and automate communications. Furthermore, it provides secure, personalised online dashboards for buyers, sellers, landlords, and tenants, allowing them to track the progress of their transaction at every stage.
The launch of TRANSACT comes at a pertinent time, aligning with the UK government's ongoing efforts to modernise and digitise the homebuying process. These reforms focus on providing earlier access to crucial property information and increasing the use of digital identity verification. PropertyStream and Offr assert that their platform will enable agents and solicitors to compile a complete digital sale pack, containing all information required under these new reforms. This pack can then be published within a secure data room, offering buyers full visibility into a property before they even submit an offer.
Beyond sales, the companies highlight that the system is versatile enough to support various other property transactions, including lettings, property auctions, and new home sales. A key feature is that customers remain on the estate agents�� own branded websites throughout the process, avoiding redirection to third-party platforms. This aims to provide a seamless and consistent user experience, reinforcing the agent's brand presence.
Robert Hoban, founder and chief executive of Offr, emphasised the shift in consumer expectations, stating, "People expect the same level of digital convenience from buying, selling or renting property as they experience in banking, travel and retail." Robin Arnold, founding partner at PropertyStream, added that the platform allows agents to manage the complete customer journey in a single, unified location, addressing the modern demand for integrated digital services in the property sector.