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Swiss PropTech startup vendom launches platform for real estate auctions

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Vendom is a new Swiss proptech startup which launched last month and provides a digital marketplace for real estate auctions and arranges the purchase and sale of real estate in a simple, efficient and transparent manner.

The platform prides itself on determining the current best market price with the intention of providing a  successful real estate transaction - for both sellers and buyers.

The start-up's founder and CEO John Philip Stalder commented on Vendom's product offering.

“We believe that the price is decided by the market, not by unclear statistics or speculation. With our platform, we want to trigger market-driven price dynamics in real estate.”

Swiss PropTech startup Vendom aims to make the auction process easier for home hunters.Image: Immocompact

Functions and advantages of vendom
With vendom, buyers can use a search function to look for real estate and contact sellers directly for further information and viewings. If there is interest in a property,the potential buyer sends a request to the seller to participate in the auction. After the seller
has checked the buyer and authorized them to participate in the auction, bids can be submitted for the desired property or it can be purchased at the buy-it-now price, if this option is offered by the seller.

Following the auction, the seller discusses the further steps for the preparation and conclusion of the purchase contract with the buyer.

The auction procedures on vendom allows buyers to submit bids that can be tracked online and immediately responded to, which the startup says offers a transparent way of doing business. To preserve data privacy, only the seller of the property hasaccess to the personal data of the bidders.

International platform for all types of real estate
Vendom provides a marketplace for all types of real estate such as residential, commercial, industrial, land, parking, etc. All real estate can also be declared as an investment property
and the targeted gross yield can be indicated. Investors can search vendom exclusively for investment properties by means of a filter function.

The vendom platform is designed on an international basis to simplify cross-border marketing of real estate. In addition to German and English, the platform will therefore soon be available in French, Spanish, Russian and Chinese. Communication and interaction between sellers and interested parties are simplified through process standardization and country-specific translations.

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