A new property platform aiming to help homeowners sell off-market properties has attracted 10,000 registered buyers in its first few months of operation,
Ostrich launched with a focus on Islington, North London at the end of 2022, letting homeowners privately “pre-market” their homes up to five years before they plan to sell.
More than 100 homeowners have listed their properties, attracting more than 10,000 registered buyers looking to find their dream home before it hits the market.
The site has been launched by the serial entrepreneurs behind VoucherCodes Richard Foister and Duncan and Max Jennings and now plans to expand across London in 2024 and said it will be nationwide by 2026.
It is free for sellers to upload a listing and there is no charge for photography, producing a floorplan or anything else.
Buyers can register for free to view property listings on the platform and can submit an indicative offer online to tempt owners to sell earlier.
Ostrich is registered with The Property Ombudsman and works like an estate agent.
It is unclear if any sales have completed through the platform yet.
Jennings said: “The UK has a unique property dilemma.
“Only 2% of homes are actively for sale, which effectively forces buyers to compromise when they are looking for a new home.
“Short of putting a letter through the door of the homes on the street that interests them, they are limited in their search for what they really want.
“For homeowners who brave the open market, the clock starts ticking straight away. With the initial promise of a great price quickly evaporating, it can be a hugely stressful experience.
“Soon, you have had half of the area where you live over for a viewing, but then your listing goes stale, and buyers start wondering what’s wrong with your property and lower offers start to come in.”
Jennings said Ostrich wants to “radically improve” the way buyers and sellers connect and give them more freedom and options.
He added: “That means more choices for buyers, and giving owners the time to find the one who values their property the most. Since launching, homeowners have already received on average five offers per property and buyers are accessing homes that would otherwise have never entered the market.”
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