Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.

Offr and PropertyStream Launch Transact Digital Platform for Agents

Offr, a digital buying platform backed by Barclays, has partnered with website specialist PropertyStream to launch Transact, a white-labelled platform for estate agents. The new platform enables agents to manage property transactions from initial enquiry to completion within their own branded websites.

Transact is designed to provide an integrated response to the UK government's consultation on digital reforms to the home buying process. According to the joint venture, the platform allows agents to capture leads, qualify buyers, manage offers, and automate communications. It also provides secure online dashboards for buyers, sellers, landlords, and tenants throughout the transaction process, including enquiry management, offer handling, and customer updates.

The platform supports tenancy management, new homes sales, and auction sales processes, and integrates with existing customer relationship management systems. The companies state that Transact aims to standardise digital processes across sales, lettings, and auction transactions, addressing what they describe as fragmented practices in the estate agency sector.

The launch comes as the property sector faces pressure to digitise processes. The government has identified upfront information provision and digital identity verification as key solutions to reduce transaction times and fall-through rates. Ministers have previously highlighted that the current system can take up to 170 days to reach completion, with a third of transactions falling through.

The development of Transact reflects broader trends in property technology, with digital tools increasingly targeting agent workflows. The timing of the launch coincides with recent improvements in mortgage market conditions, which could support transaction volumes.