London based house selling platform Nested has raised £8m in venture funding led by Passion Capital. Nested guarantees an owner that their property will sell within 90 days of listing through the platform.
Nested operates similarly to a traditional estate agent to help you sell your house, but with a key (and somewhat tech-enabled) difference. In addition to providing a valuation, marketing and sales service, the startup guarantees to sell your property for 95-98 per cent of market value within 90 days, or they’ll offer you the cash themselves instead. That’s made possible because of how confident it is that with the help of tech and data it can price a property accurately enough in the first place. Meanwhile — and this bit is crucial — if Nested does achieve a higher sale price than the one it guaranteed/offered, either before or after the 90 day window, it will split the difference, up to 70/30 in favour of the property owner. This, in theory, keeps the interests of both parties aligned.