The UAE is now home to the region’s first home buying service, SellAnyHome.com, which aims to enable home owners who make the request in the morning to sell their property by evening. That’s the plan, anyway.
SellAnyHome.com has already benchmarked itself as the only solutions provider to introduce this form of real estate specific technology into the real estate market using its proprietary technology and free home evaluation service.
“Forget the time wasted and time spent trying to sell your home and the countless phone calls and visits from uncommitted buyers. We will deliver the fastest way to sell your property in Dubai…the best part is that it’s free, it’s fast and it’s easy,” says Omar Chihane, co-founder and CEO of SellAnyhome.com.
Here’s how it works
Sellers visit the website and enter general information about their property, such as the location, number of bedrooms and size. They are then issued an estimated value for their property using SellAnyHome.com’s proprietary technology and algorithm, as well as real time market data.
Following this, they schedule a free home evaluation with one of SellAnyHome.com’s offer consultants, who makes the visit and begins the process termed “picks and ticks”, where they carry out a more than 100-point check of the property and detail every stage with pictures and selection references.
The information is then uploaded onto the app, whereby a formal binding offer is generated for the seller within a 30-minute window. Once the offer is accepted, the SellAnyHome team works alongside the seller to ensure the transfer is smooth.
AMEinfo asked Chihane about this, starting with the process itself.
“It takes ten seconds to issue an approximate value of the property after basic information about the home is received. After that, the owner can schedule a free home visit,” he tells AMEinfo.
Trust and transparency
But what makes the site unique for the seller to trust the picks and ticks and binding offer to sellers?
Chihane says: “We’ve done extensive research with our buyers to capture ALL of the information that they would require to make an online ‘buy’ decision, which makes the information provided not only transparent, but also aligned with the buyer’s needs.”
“We only deal with professional investors (be it a fund, property management firms or high-net-worth individuals looking to expand their real estate portfolio),” he elaborates.
Chihane says that what makes the company unique to buyers is that is it is largest deal-sourcing channel in the market, with transparent valuations and deals located at their fingertips, entirely online.
He also adds that SellAnyHome.com aims at providing real-time market coordination between the buyers and sellers.
“Very much like the stock exchange but for properties,” he notes. “We earn a commission on the value of the property and only when the seller agrees to sell, which means that we are of course rooting for our sellers to get the highest possible offer.”
The seller has absolutely no obligation to sell, at any time.
Success so far
Being a recent launch, AMEinfo wondered how successful the business was.
“We’re oversubscribed both from sellers trying to sell their properties and buyers aiming to invest in real estate,” Chihane says.
“Our buyer pool is growing at an astonishing rate (nearly doubling month on month) and we currently have an average lead time of six days before we can go see our sellers,” he adds.
To address this, the company plans to hire more offer consultants.
“Our ultimate vision is to enable someone to book an appointment with us in the morning and have their property sold before dinner,” he concludes.