Openforoffer says its anonymised platform for home buyers, sellers and agents will end the problem associated with property sale fall-throughs.
7th Apr 20260 302 1 minute read Nigel Lewis
A tech start-up has launched what it claims is the first anonymous bidding platform for property buyers and sellers covering England and Wales.
Steven Myers, CEO, openforoffers.com
Called Openforoffer.com and based in Stamford, Lincolnshire, it is led by digital financial executive Steven Myers who says his platform could, if used widely within the housing market, significantly reduce sales fall-throughs for agents and prevent home movers experiencing the pain of gazumping and gazundering.
Openforoffer.com has created a real-time, anonymised ‘order book’ for every property so that, when a buyer makes an offer, it appears publicly including the amount, the timestamp, the buyer’s chain status and funding type – but without any personal identity information.
The Openforoffer website claims traditional portals cost agents £268 per house sale while it charges between £125 and £575 on ‘slabbed’ scale depending on the property’s value.
Financial decision“Every other market in the world – stocks, commodities, even used cars – shows you what buyers are willing to pay,” said Myers. “Property is the biggest financial decision most people will ever make, and they’re making it blind. We’re fixing that.”
He highlights how 37% of buyers have been gazumped in the past ten years and that 30% of deals collapse before exchange of contract.
The success of Myers’ platform will depend on the concept becoming popular among home buyers, who are asked to provide the information up-front. The platform claims the ‘black hole’ created by the UK’s opaque home sales bidding system is the key driver for the problems agents and home movers experience.
“Scotland outlawed gazumping decades ago and has a fall-through rate under 1%,” adds Myers. “We’re not waiting for legislation. We’re building the infrastructure that makes gazumping economically irrational.”
Myers’ platform uses AI to value homes in order to help buyers make the most realistic offer that likely to be accepted by the vendor.
Read more about fall-throughs.
Tagsgazumping 7th Apr 20260 302 1 minute read Nigel Lewis Share Facebook X LinkedIn Share via Email