A new property portal is launching at the end of this month, which will ‘pre-qualify’ home buyers.
Called Vamoove, it will only let buyers view the full agent and property details if they are listed as a bona fide purchaser.
Nor will the site connect purchaser and private seller unless the former is a bona fide purchaser who can prove they are ready to proceed.
To be accepted as such, they must supply their solicitor’s or lender’s details, and provide proof of funds.
No actual financial information beyond this will be collected by the site.
The site has been founded by Lukas Sheen, and will be open for agents, developers and private sellers to list properties anywhere in the world. It will also list ‘off market’ properties.
Sheen, who has run his own development company in London, said he had spent decades wasting time on browsers rather than buyers.
He admitted that pre-qualification is a controversial concept – “but listing solicitors’ details and providing evidence of funds” should work in favour of buyers.
The site, which is said to have 20 agents on board already, will charge agents £1 per listing for a minimum of 50.
Private sellers will pay £50 to list one property from up to a year.
The site is free for property hunters unless they want to look at off-the-market deals, in which case they register as a ‘premium’ buyer at a cost of £50 per month.
A spokesperson said: “No financial data is collected by the site.
“Payments are taken securely and proof of buyers’ funds is in a signed solicitor letter, so no actual financial details are given.
“It is hoped pre-qualifying will be attractive to people, although controversial, because it cuts out time wasting.”
The spokesperson added: “Lukas is hoping to build his site up using social media and contacts around the world.
“He has 30k-plus followers and is investing in getting Vamoove out there.”
The site is due to go live on March 30.
Comments (43)
Lukas,
The best advice at this early stage is decided if you are looking to appeal to the public to list direct or look at enticing agents.
Both will not work. Agents will not on mass support the portal if buyers can list directly.
Problems you have (or choices) is, Do you get in a crowded market for agents for portals (OTM has not cracked this with millions of pounds) or do you pitch it to the public becoming basically an online agent (lots of issues here legally and also your competitors PB, EASYPROP, EMOOVE all have millions in crowd funding).
You also need to find a USP for either the purchasers to use your site or the agents to endorse it. Sellers are further down the list to improve the standard of viewings, You need to get them in the first place.
To be honest i do not think the issue in making things better for the market is actually improving the quality of viewings or how serious a buyer is. Granted a corporate agency such as countrywide or sequence bring any old dross round and encourage offers just to hit their targets daily. But these agents would never entertain your idea (they do not control it).
If it really was not about money, if it was about improving the industry you need to be looking at offering a solution to post agreed sales. The rise in internet agents, the dumbing down of the sales process and the anarchic way conveyancers approach the transaction is what creates stress, delays and fall throughs. This is myself what i am working on. There is a genuine need, want and appetite and benefits all parties in the process, buyers, sellers, agents (traditional and online) and hopefully conveyancers. This has taken me best part of 9 months to research and still no closer to launch but have a solid foundation.
As for am i on OTM? – NO. I am a business owner, i am allowed to advertise on the portal but even with everything they have it has too many conflicting issues, What OTM does have is a very good USP and benefit to agents. The question is can they achieve it? 6000 think yes.
You know what, thank you so much for that piece of advice. Absolutely dam right decent of you to take the effort to respond as you have. That has certainly given me a lot of constructive food for thought and after hearing your point of view I already am clearer in what paths to tread carefully down.
Hopefully this has been a blessing in disguise and i am most certainly glad i stumbled across you guys and this site. (good old google alerts ah)
Once again thank you and hopefully catch you guys in another beasting one day!!!
Enjoy your weekends
Lukas AKA KingCutAndPaste
I wouldn’t usually reply but as you have all been so generous with your kind words let me introduce myself as the owner of vamoove the as you call it ‘dead’ before it’s started. wet behind the ears company. You have raised some great points I must say and I agree with many of you.. Why would a buyer pay to view a property: they wouldn’t that is why vamoove is ‘free’ to view property. And why would people view a website with less then unique 5000 impressions per day compared to the big players like rightmove? again they wouldn’t that is why we are piloting the scheme with our ‘own’ 20 something agencies to start, and our ‘own’ 50 something housing portfolio initially. And isn’t it offensive to ask for people’s details when they want to view your property!? Perhaps. But if you have a genuine interest and you are ready to buy then what is the big secret. There is only an issue if there is something to hide. The benefit to buyers is simple you can buy properties that you will not find on rightmove zoopla etc. Of any of you have ever bought property off market or privately then you would be familiar with the need of a ‘proof of funds’ before viewing property etc. That is what ‘my family’ have been dealing in for three decades. I understand that this won’t be for everyone but then what is. Rightmove isn’t for private sellers and they are not offended. Obviously you guys have this all figured out so I’m not looking to enlighten anyone here. After all I’m just a wet behind the ears Essex boy with chuff all between them as you say.. But for the record it’s east London I’m from and as for the linked in stalking detective if your taking that seriously then you are more foolish then I. There is no ego from where I come from. I’m just a small fish trying to make one of my ‘own’ pain points a little easier. I think the only ego here comes from herd of negative wana-be profs all stroking each others egotistical viewpoints. Anyway that is my rant just like yours. I invite any of you guys to chat at any time. After all you may all be right and it may flop on it’s face but at least we have had a go at something.
SEVEN identical responses? Looks like we have the Cut’n’Paste Pearly King in our midst!
You think for one nanosecond we needed to be exposed to that MDT more than once?
My eyes are bleeding.
Don’t forget to pop back and let us know how you got on – ‘cos I won’t be diarising a re-visit anytime soon.
Ah – what the heck – spirit is goodwill to mankind and all that – good luck, nevertheless.
There’s no need to be so unkind now is there but good banter to be fair to you anyways! Like that the cut and paste king! Enjoy the weekend!
Yep, the fact that laidbacklukie60 cannot reply to the individual comments separately but has to provide one cut n paste comment to everyone he must think that everyone is stupid.
Obviously he only has the one argument spiel which will be given to anyone who questions him.
Brilliant,
* “Hey guys come and spend £50 per month advertising on my website that actively encourages private sellers”
** “Err no thanks, we would like to keep our industry not lose it. Also putting barriers in the way of applicants wishing to view is probably not the best idea considering there are many other well known portals that do not do this”
* “Yeah well i’m a proper business man, i know fings! – so what i will do is go on an industry news outlet and alienate myself further against my target audience, HA that will teach you!”
** “Yep you showed us!”
You get my like smile please.
Don’t expect too many of them 😉
Hah Angry little people
All well and good hidden behind your computers spewing your abuse about that no one could even care about. Good luck to the lat of you. Carry on
Considering we are your potential clients you may wish to listen to our advice (or abuse as you put it).
Jeez, chaps and chapesses – this one isn’t up for a touch of playful banter in the slightest… is he?
Should think himself good and proper lucky we ain’t playing hardball…
Not at all.. Great banter.. Harsh. But fair
So you are an OTM agent then? How is that working out?
Interesting question – what brought that one out of the closet?
I have actually taken what every one of you guys have put forward quite seriously and has raised some of my own concerns with my own ‘baby’ as it were.
There is not question of what i am trying to achieve and I believe in where i am trying to get too but a the same time i am not that a nieve of a person to ignore some of its own floors. (very difficult when developing a product you can become blind to many things and overlook the most seemingly obvious of pitfalls).
The reason i ask is the fact that ‘smile please’ said it very well that many people try and invent the wheel but not many do. And what i am trying to get away from is doing just that.
Its not money at all that has ever driven me to do anything but a genuine want to better things within the market.
I wanted to originally provide a FREE portal but due to the fact of spamming I quickly shunned that idea.. Anyway I do feel that a lot of these companies ARE trying to re-invent the wheel with slightly different branding. Would you be willing to have a five minuet conversation just for me to run over some of the issues raised by everyone here. It may not be worth your while but for me it would mean a whole lot from someone who has obviously gone through the change in OTM etc.
Let me know Lukas
“Sheen… said he had spent decades wasting time on browsers rather than buyers.”
Sorry??
Mr Sheen is THIRTY YEARS OLD.
HOW many “decades” can he possibly have wasted?
Ahhh… good old LinkedIn provides the answer yet again:
“Buying, selling, letting and developing real estate in and around London and the south east of England for the last 12 years.”
So – that’s ONE POINT TWO decades, then.
Still wet behind the ears – and chuff-all between them, looks like…
Can people really make money like this? I’m in the wrong job.
This is dead before it begins
there is no common will here
moreover it seems more like a rant than a genuine attempt to bring change and disruption
sorry
I wouldn’t usually reply but as you have all been so generous with your kind words let me introduce myself as the owner of vamoove the as you call it ‘dead’ before it’s started. wet behind the ears company. You have raised some great points I must say and I agree with many of you.. Why would a buyer pay to view a property: they wouldn’t that is why vamoove is ‘free’ to view property. And why would people view a website with less then unique 5000 impressions per day compared to the big players like rightmove? again they wouldn’t that is why we are piloting the scheme with our ‘own’ 20 something agencies to start, and our ‘own’ 50 something housing portfolio initially. And isn’t it offensive to ask for people’s details when they want to view your property!? Perhaps. But if you have a genuine interest and you are ready to buy then what is the big secret. There is only an issue if there is something to hide. The benefit to buyers is simple you can buy properties that you will not find on rightmove zoopla etc. Of any of you have ever bought property off market or privately then you would be familiar with the need of a ‘proof of funds’ before viewing property etc. That is what ‘my family’ have been dealing in for three decades. I understand that this won’t be for everyone but then what is. Rightmove isn’t for private sellers and they are not offended. Obviously you guys have this all figured out so I’m not looking to enlighten anyone here. After all I’m just a wet behind the ears Essex boy with chuff all between them as you say.. But for the record it’s east London I’m from and as for the linked in stalking detective if your taking that seriously then you are more foolish then I. There is no ego from where I come from. I’m just a small fish trying to make one of my ‘own’ pain points a little easier. I think the only ego here comes from herd of negative wana-be profs all stroking each others egotistical viewpoints. Anyway that is my rant just like yours. I invite any of you guys to chat at any time. After all you may all be right and it may flop on it’s face but at least we have had a go at something.
Website is littered with typos, grammatical chuff-ups and, above all, unadulterated ********.
They already have glowing ‘reviews’ for a site that isn’t even live, properties which appear to have been scraped from who-knows-where – and claims that it’s been ‘featured’ in pretty much every publication and on every website on the planet.
It’s got a so-called ‘team’ of “the brightest and best” and the CEO – stating on LinkedIn “We broke into the London market first in Notting hill when staring on BBC1’s “homes under the hammer” as we bought a run down property at auction and turned it round into a high class luxury development” – clearly has an ego well in excess of the size of Makemake… and with equal likeability factor.
But then – they are based in ESSEX – so what else should be expected…
Stephen, matey – if you are reading this – DON’T APPLY!! ;o)
I wouldn’t usually reply but as you have all been so generous with your kind words let me introduce myself as the owner of vamoove the as you call it ‘dead’ before it’s started. wet behind the ears company. You have raised some great points I must say and I agree with many of you.. Why would a buyer pay to view a property: they wouldn’t that is why vamoove is ‘free’ to view property. And why would people view a website with less then unique 5000 impressions per day compared to the big players like rightmove? again they wouldn’t that is why we are piloting the scheme with our ‘own’ 20 something agencies to start, and our ‘own’ 50 something housing portfolio initially. And isn’t it offensive to ask for people’s details when they want to view your property!? Perhaps. But if you have a genuine interest and you are ready to buy then what is the big secret. There is only an issue if there is something to hide. The benefit to buyers is simple you can buy properties that you will not find on rightmove zoopla etc. Of any of you have ever bought property off market or privately then you would be familiar with the need of a ‘proof of funds’ before viewing property etc. That is what ‘my family’ have been dealing in for three decades. I understand that this won’t be for everyone but then what is. Rightmove isn’t for private sellers and they are not offended. Obviously you guys have this all figured out so I’m not looking to enlighten anyone here. After all I’m just a wet behind the ears Essex boy with chuff all between them as you say.. But for the record it’s east London I’m from and as for the linked in stalking detective if your taking that seriously then you are more foolish then I. There is no ego from where I come from. I’m just a small fish trying to make one of my ‘own’ pain points a little easier. I think the only ego here comes from herd of negative wana-be profs all stroking each others egotistical viewpoints. Anyway that is my rant just like yours. I invite any of you guys to chat at any time. After all you may all be right and it may flop on it’s face but at least we have had a go at something.
Nor will the site connect purchaser and private seller unless the former is a bona fide purchaser who can prove they are ready to proceed.
. ………….OUCH – like a cross to a vampire. …………
I wouldn’t usually reply but as you have all been so generous with your kind words let me introduce myself as the owner of vamoove the as you call it ‘dead’ before it’s started. wet behind the ears company. You have raised some great points I must say and I agree with many of you.. Why would a buyer pay to view a property: they wouldn’t that is why vamoove is ‘free’ to view property. And why would people view a website with less then unique 5000 impressions per day compared to the big players like rightmove? again they wouldn’t that is why we are piloting the scheme with our ‘own’ 20 something agencies to start, and our ‘own’ 50 something housing portfolio initially. And isn’t it offensive to ask for people’s details when they want to view your property!? Perhaps. But if you have a genuine interest and you are ready to buy then what is the big secret. There is only an issue if there is something to hide. The benefit to buyers is simple you can buy properties that you will not find on rightmove zoopla etc. Of any of you have ever bought property off market or privately then you would be familiar with the need of a ‘proof of funds’ before viewing property etc. That is what ‘my family’ have been dealing in for three decades. I understand that this won’t be for everyone but then what is. Rightmove isn’t for private sellers and they are not offended. Obviously you guys have this all figured out so I’m not looking to enlighten anyone here. After all I’m just a wet behind the ears Essex boy with chuff all between them as you say.. But for the record it’s east London I’m from and as for the linked in stalking detective if your taking that seriously then you are more foolish then I. There is no ego from where I come from. I’m just a small fish trying to make one of my ‘own’ pain points a little easier. I think the only ego here comes from herd of negative wana-be profs all stroking each others egotistical viewpoints. Anyway that is my rant just like yours. I invite any of you guys to chat at any time. After all you may all be right and it may flop on it’s face but at least we have had a go at something.
But why would a buyer go through all that faff when they could just go on Rightmove/Zoopla/OTM and see far more properties anyway?
Where do you start with the issues this throws up!
They are effectively acting as an agent for private buyers but they have never visited the property to verify details – Think this is why Tesco stopped offering the service as falls foul of a number of laws.
Second, you must be a stupid agent to list your properties on a site promoting private sales.
Thirdly why will a buyer chose to use the site? no other portal asks you to prove your “worth” so you will use them instead.
I wouldn’t usually reply but as you have all been so generous with your kind words let me introduce myself as the owner of vamoove the as you call it ‘dead’ before it’s started. wet behind the ears company. You have raised some great points I must say and I agree with many of you.. Why would a buyer pay to view a property: they wouldn’t that is why vamoove is ‘free’ to view property. And why would people view a website with less then unique 5000 impressions per day compared to the big players like rightmove? again they wouldn’t that is why we are piloting the scheme with our ‘own’ 20 something agencies to start, and our ‘own’ 50 something housing portfolio initially. And isn’t it offensive to ask for people’s details when they want to view your property!? Perhaps. But if you have a genuine interest and you are ready to buy then what is the big secret. There is only an issue if there is something to hide. The benefit to buyers is simple you can buy properties that you will not find on rightmove zoopla etc. Of any of you have ever bought property off market or privately then you would be familiar with the need of a ‘proof of funds’ before viewing property etc. That is what ‘my family’ have been dealing in for three decades. I understand that this won’t be for everyone but then what is. Rightmove isn’t for private sellers and they are not offended. Obviously you guys have this all figured out so I’m not looking to enlighten anyone here. After all I’m just a wet behind the ears Essex boy with chuff all between them as you say.. But for the record it’s east London I’m from and as for the linked in stalking detective if your taking that seriously then you are more foolish then I. There is no ego from where I come from. I’m just a small fish trying to make one of my ‘own’ pain points a little easier. I think the only ego here comes from herd of negative wana-be profs all stroking each others egotistical viewpoints. Anyway that is my rant just like yours. I invite any of you guys to chat at any time. After all you may all be right and it may flop on it’s face but at least we have had a go at something.
Thanks for the cut and paste job lukie but it failed to address any of my points.
Look good luck to your venture, i mean that sincerely. BUT do not invest anymore money in it. Take it from me it is riddled with issues.
Too many people think they can change the wheel but few do, and in the main the reason they fail is they neglect to do the correct research. Asking you mates and family what angers them with selling is one thing but do you not think agents have many times conducted research and tired to improve?
The issue you have (like a lot on “innovators”) is you have not taken the time to speak to the people that you need support from. I.E. The Estate Agents.
You need stock, agents have stock. You will not find private buyers using your site, again there are many reasons why, here s not the place.
Also as a guessing developer or landlord you are probably after very competitively priced or properties with value or potential value in them. These properties sell hand over fist many times. Buyers may go through all the hassle of providing details if they can get these types of properties but this is not what your site is for, well at least it will not attract those sellers.
If you are serious about constructing a site, or shaping an idea get involved in the arena on here and ask for ideas, helps and thoughts. The agents, business owners on here are very helpful.
The reason they are mocking you is because its a flawed idea, i know its not nice to hear but it is.
Good luck, and hope to see you post again!
I absolutely understand the point you are making. But before rightmove went online there were hundreds if not thousands of people saying that that would never work and that the property industry could never been taken on line. And how people would have always need an estate agent face to face… Now look at the industry. Listen I have not replied to have a row on this site at all if truth be told I’m not a tech head (hence my cutting and pasting skills!!) at all but never the less I feel there has to be change and my whole concept is trying to bring the way that ‘we’ do business in the off market sales onto the web. Nothing more. I really do appreciate all your comments (and the abuse) I will for sure be returning even if it be to you wolves! Hope you all have a lovely weekend. No hard feelings.
And you wonder why #Proptech gets a bad rep.
I shall say this only once.
This is not disruptive technology, this has no upside for buyers or sellers or estate agents.
How much would I pay to look at houses for sale ? Naff all.
How much would I pay to list my house for sale privately on a website with visitor numbers under 5,000 unique per day? Naff All
If RM decided to allow private sellers to advertise on it’s website there would be a huge explosion of private sales but every agent would simply walk away and that’s why vavavoom or vanmove or whatever it’s called is doomed before it even got off the ground.
OK I have mentioned disruptive technology being essential before!!!!!!!
Well said, the key point is “this has no upside for buyers“. Therefore very few people will look at the properties on it.
I wouldn’t usually reply but as you have all been so generous with your kind words let me introduce myself as the owner of vamoove the as you call it ‘dead’ before it’s started. wet behind the ears company. You have raised some great points I must say and I agree with many of you.. Why would a buyer pay to view a property: they wouldn’t that is why vamoove is ‘free’ to view property. And why would people view a website with less then unique 5000 impressions per day compared to the big players like rightmove? again they wouldn’t that is why we are piloting the scheme with our ‘own’ 20 something agencies to start, and our ‘own’ 50 something housing portfolio initially. And isn’t it offensive to ask for people’s details when they want to view your property!? Perhaps. But if you have a genuine interest and you are ready to buy then what is the big secret. There is only an issue if there is something to hide. The benefit to buyers is simple you can buy properties that you will not find on rightmove zoopla etc. Of any of you have ever bought property off market or privately then you would be familiar with the need of a ‘proof of funds’ before viewing property etc. That is what ‘my family’ have been dealing in for three decades. I understand that this won’t be for everyone but then what is. Rightmove isn’t for private sellers and they are not offended. Obviously you guys have this all figured out so I’m not looking to enlighten anyone here. After all I’m just a wet behind the ears Essex boy with chuff all between them as you say.. But for the record it’s east London I’m from and as for the linked in stalking detective if your taking that seriously then you are more foolish then I. There is no ego from where I come from. I’m just a small fish trying to make one of my ‘own’ pain points a little easier. I think the only ego here comes from herd of negative wana-be profs all stroking each others egotistical viewpoints. Anyway that is my rant just like yours. I invite any of you guys to chat at any time. After all you may all be right and it may flop on it’s face but at least we have had a go at something.
You’ll know when it’s flopped when we stop talking about it.
Sounds like a brilliant idea apart from the fact that the public love browsing property and won’t pay extra for those ‘hidden gems’ #goodluck
Sheen, who has run his own development company in London, said he had spent decades wasting time on browsers rather than buyers.
Should have used a decent estate agent.
Indeed, anyone who admits to wasting that much time (multiple decades), I would not trust with ideas.
I wouldn’t usually reply but as you have all been so generous with your kind words let me introduce myself as the owner of vamoove the as you call it ‘dead’ before it’s started. wet behind the ears company. You have raised some great points I must say and I agree with many of you.. Why would a buyer pay to view a property: they wouldn’t that is why vamoove is ‘free’ to view property. And why would people view a website with less then unique 5000 impressions per day compared to the big players like rightmove? again they wouldn’t that is why we are piloting the scheme with our ‘own’ 20 something agencies to start, and our ‘own’ 50 something housing portfolio initially. And isn’t it offensive to ask for people’s details when they want to view your property!? Perhaps. But if you have a genuine interest and you are ready to buy then what is the big secret. There is only an issue if there is something to hide. The benefit to buyers is simple you can buy properties that you will not find on rightmove zoopla etc. Of any of you have ever bought property off market or privately then you would be familiar with the need of a ‘proof of funds’ before viewing property etc. That is what ‘my family’ have been dealing in for three decades. I understand that this won’t be for everyone but then what is. Rightmove isn’t for private sellers and they are not offended. Obviously you guys have this all figured out so I’m not looking to enlighten anyone here. After all I’m just a wet behind the ears Essex boy with chuff all between them as you say.. But for the record it’s east London I’m from and as for the linked in stalking detective if your taking that seriously then you are more foolish then I. There is no ego from where I come from. I’m just a small fish trying to make one of my ‘own’ pain points a little easier. I think the only ego here comes from herd of negative wana-be profs all stroking each others egotistical viewpoints. Anyway that is my rant just like yours. I invite any of you guys to chat at any time. After all you may all be right and it may flop on it’s face but at least we have had a go at something.
I like to pre qualify my own buyers by speaking to our financail broker (additional stream line of income for me), if I wait for someone else to qualify them I’ve missed the boat. I don’t know about anyone else but I can remember the last time I had a buyer who was a waste of time. many buyers who aren’t on the market are my future market I want to speak them. i think will work very well for private sellers but I won’t be rushing to advertise.
The quick buyer will be looking on the other portals.
How is this going to work sending out solicitors paperwork. Team of people checking up for fakes?
Bonus points for an original name. I may start my own …’oove’. Seems a good way to get publicity.