Property Partner has introduced an automated, strategy-based trading tool, which it claims allows investors to filter thousands of potential property investments instantly.
Bid Manager is designed to increase the number of shares in properties changing hands and boost liquidity over time.
Placing bids has been possible on Property Partner since August of last year. In total, 1,318 clients have used the service across 8,361 transactions worth almost £2 million. There are currently £1.49 million of bids resting on the platform, averaging £6,044.
Bid Manager calculates what price investors should offer for each property based on their desired yield. They can then leave unlimited bids on any number of properties on the table, to be executed when sellers drop their prices low enough.
The introduction of automated ‘stock screening’ and bid placement for residential property is aimed at attracting the most active traders.
Until now investors using platforms like Property Partner have had to manually select which properties they wanted to bid on. Bid Manager allows users to search for multiple properties that suit their investment objectives and bid on them, all at once, from the convenience of a single screen.
Dan Gandesha, CEO of Property Partner, said: “This is a very exciting moment for us because it represents the next step on the road to bringing the kind of liquidity you see in equity markets to the residential property market.
“Property investing in the past was a slow and frustrating process but our latest innovation turns that firmly on its head.
“Never before have residential property investors been able to easily place pending orders across multiple properties at the same time, and watch as the platform fills those orders according to priorities set by the investor.
“We expect the Bid Manager to attract a lot of interest from traders who have been used to trading with this kind of flexibility across equities, currencies and commodities, but never in the residential property market.”