Irish prop-tech firm reaches €1m in weekly transactions despite COVID crisis

Irish prop-tech firm reaches €1m in weekly transactions despite COVID crisis

[timg=]VirtualrealityMarch2020_large.jpg[/timg]

An Irish property technology company this week secured nearly €1m in property transactions, as it allowed estate agents to carry on business throughout the ongoing crisis.

Artis, a start-up estate agent founded by Richard O'Neill, sold a €400,000 property in Dublin 18 on Friday, using the Offr service. Contracts were signed online, and the deposit was paid online, as the agent, the buyer, the seller, the buyer's solicitor and the seller's solicitor all worked from home.

The combined results of Sherry Fitzgerald's online auction in Waterford for €580,000 on Tuesday, and Artis' online auction in Dublin 18 for €400,000 on Friday combines a total of €980,000 in sales.

Offr CEO Robert Hoban said, “Every sector is currently working through this difficult environment and Offr is no different. There are no property deals being signed anywhere in Ireland at the moment as all solicitors and agents are working from home.

"We are delighted to be able to assist in these two purchases. These are very likely the world's first fully remote, fully online property transactions, where all parties to the transaction were working from home. I think the current climate will change the way we think about buying property in the future.”

The Offr service was developed to facilitate the online buying and selling of property, and allow for further transparency in the process.

The company's technology is available on estate agents’ websites, and while property sales have been disrupted with fewer bids being made, the service has allowed estate agents and other stakeholders to continue working from home, across a range of devices.

The auctioneers conducted the auctions from home without needing to have a physical auction room, while bidders registered and bid on their home devices.

The legal pack was then uploaded by the seller's solicitor and downloaded by the bidders' solicitors, and any queries were raised all from their homes.

Contracts were signed remotely and digitally using DocuSign, and delivered digitally to solicitors, while the deposit was paid digitally using Stripe.

More on this topic

More than €13k/acre expected for prime land overlooking BlackwaterMore than €13k/acre expected for prime land overlooking Blackwater

New safety protocols you must adhere to before you can view a houseNew safety protocols you must adhere to before you can view a house

Attention-seeking home of ex-servicemen in Cork has it tapedAttention-seeking home of ex-servicemen in Cork has it taped

Dive into Ballycotton at the Depp endDive into Ballycotton at the Depp end


More in this Section

FBD digs its heels in on payment issue as Covid claim cases top 700FBD digs its heels in on payment issue as Covid claim cases top 700

Ryanair leads travel stock surge as holiday hotspots prepare to reopenRyanair leads travel stock surge as holiday hotspots prepare to reopen

Shares drive ahead amid hopes for lifting of Covid-19 global lock downsShares drive ahead amid hopes for lifting of Covid-19 global lock downs

France unveils €8bn plan to rescue ailing car industryFrance unveils €8bn plan to rescue ailing car industry


Lifestyle

The model mum took a coronavirus test in preparation for the procedure.Everything to know about breast implant removal, as Chrissy Teigen says she’s undergoing surgery

Cathal Coughlan is known for his part in Microdisney, but for many people his best output came with the harder-edged band he formed afterwards, writes Ed PowerB-Side the Leeside: The Fatima Mansions and the story of 'Viva Dead Ponies'

Limerick singer-songwriter Emma Langford recently released a new single ‘Mariana’ available to buy on Bandcamp, with all proceeds going to Safe Ireland.Question of Taste: Singer-songwriter Emma Langford

These jammy thumbprint cookies are dangerously moreish.Jammy thumbprint cookies recipe

More From The Irish Examiner