London’s largest lettings and sales estate agent brand, Foxtons, claims to have become the first estate agent to completely digitise the home selling process, thanks to the launch of its latest partnership with innovative consumer app Home and Coadjute.
It has been a busy few years for Foxtons since Guy Gittins returned to the company as CEO, helping the firm to regain its position within the market as London’s number one estate agency brand*, not to mention the UK’s fastest growing.
As the original property industry innovator, Foxtons has made further strides in 2024, becoming the first estate agency to implement the comprehensive digitisation of the property transaction process. As a result, Foxtons is now the only estate agency to have completely digitised both the sales and lettings journeys for its customers.
The final piece of the digital property puzzle
The partnership with Home and Coadjute is viewed as the final piece that completes a puzzle started a decade ago with the launch of My Foxtons – their digital platform that allowed buyers and sellers to receive documents related to their purchase.
Since then, Foxtons has pioneered the digital transformation of the rental sector, providing tenants with the first complete online rental journey, even removing the need for viewings.
Today, Foxtons has achieved the same offering within the sales sector, bolstering the My Foxtons offering with the Home app and Coadjute as its partners of choice.
The most comprehensive home moving platform to date
While many proptech platforms and apps have attempted to digitise the home buying and selling process before, Home’s mission is to transform how we move and manage our Homes.
Home consolidates every aspect of the home buying and selling process in one place, and is designed to allow buyers and sellers to track their move every step of the way, alerting them when action is needed on their side, and giving them the ability to tackle their move head on while reducing the time and stress of moving.
Uniquely, buyers and sellers can also access the most comprehensive list of home services ever compiled under one platform, with Home providing everything from removals, insurance, utilities, council tax, storage, packing supplies, white goods, interior design, smart home technology, home office and more
Coadjute is a data exchange platform built on blockchain technology that enables estate agents, conveyancers, mortgage brokers and lenders to become interoperable, enabling the approved parties involved in a property transaction to synchronise and share progress updates, secure messages, property information, digital identities and in the future even payments.
This partnership creates a unique experience for buyers and sellers: a secure and intuitive app that also provides real-time updates on their move and enables them to communicate and share documentation with agents, conveyancers and brokers. Foxtons customers are able to directly contact each party involved, without, for example, their agent being able to view communications with their mortgage broker.
Foxtons CEO, Guy Gittins, commented: “Foxtons has always been at the forefront where the digital disruption of the property industry is concerned and, having already pioneered the full digitisation of the lettings journey, our partnership with Home solidifies us as the leading innovator within the UK property sector.
“We’ve invested heavily in both technology and people in recent years, a strategy which has so far paid dividends. Our latest partnership with Home and Coadjute is simply the next step in the progression of our technology focussed endeavours.
“With the help of Home and Coadjute, our buyers and sellers will be able to better manage the cost and admin requirements of moving, while also benefiting from the reduced chance of a fall through, helping to alleviate the stress associated with a property transaction.
“However, perhaps the most important aspect is the support and transparency provided at every step of the home moving journey thanks to advanced blockchain technology, enabling buyers and sellers to immediately, securely and confidently communicate with their agent, conveyancer or broker, all from one place.
“We already boast a far superior selling timeline at 104 days versus the industry average of 130 days to exchange and we truly believe that, with the Home app and Coadjute via our My Foxtons platform, we can reduce this even further while also reducing fall through rates.”
Founder and CEO of Home, Matt Spence, commented:
“Home exists to transform the way we move and manage our homes. Buying or selling a home is a major life event that, I believe, supported by good technology will be as intuitive and enjoyable as other industries that have embraced digitisation, such as travel and banking.
Home puts the mover in control, and continues to support them well past move in day. Foxtons are a great first partner as they recognise the role technology plays in achieving an excellent customer experience and unlocking growth.”
CEO of Coadjute, Dan Salmons, said: “We are thrilled to be working with Foxtons to enable this new digital home buying and selling experience for their customers. Coadjute’s unique digital network brings together all the parties in the property transaction – estate agents, conveyancers, brokers, buyers and sellers – and enables them to share data, documents, even identity, seamlessly and securely. By bringing Coadjute and the Home app together, Foxtons have created a truly novel and exciting technology solution for their customers. We are confident the new solution will prove to be a real boon for users in the business, and a hit with buyers and sellers alike.”
Foxtons has launched its initial roll out of the Home app and Coadjute via its My Foxtons platform to buyers and sellers on an invite only basis, however, it plans to swiftly expand this offering across the capital to help London get moving in 2024.
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