A new property platform that helps homeowners sell off-market properties has gained 10,000 registered buyers since launching at the end of 2022.
Ostrich launched with a focus on Islington, North London. It aims to persuade homeowners to privately market their homes up to five years before they intend to sell.
So far, over 100 homeowners have listed their properties, attracting the 10,000 figure of registered buyers who want to get the inside track on a potential new home before it goes on the market. It is unclear if any property sales have been completed through the platform so far.
Ostrich was launched by the entrepreneurs who set up money-saving website VoucherCodes, Richard Foister and Duncan and Max Jennings. It now plans to expand across London in 2024 and aims to go nationwide by 2026.
The platform is registered with The Property Ombudsman and works in a similar way to an estate agent. It is free to use 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 are able to make an indicative offer online to entice owners to sell their property earlier.
Ostrich says that only 2% of U.K. homes are actively for sale at any time, which, it says, means buyers have to compromise when looking for a new home and are limited in their search.
It wants to improve the way buyers and sellers connect to give them more freedom and options. Ostrich claims that since launching its registered homeowners have received on average five offers per property.