Not only does the Yelsa app match prospective buyers with sellers based on their search criteria, but it gives buyers early access to properties before they go on the market.

It also puts sellers in direct contact with prospective buyers and allows sellers to take on various functions currently managed by agents. This can help those selling save on often-hefty commission fees.

Yelsa chief executive Mike Harvey says the app can benefit investors whether they are looking to buy or sell – especially as the property market is set for a period of extended uncertainty thanks to the economic impact of the Covid-19 crisis.

“A reduced fee structure will become important to those wanting to maximise the return on the sale of their property, and savings on marketing and agents’ fees will go some way to ensure that.”

The app also avoids the public nature of property sales which can cause issues for some sellers, including landlords marketing their rental properties, and weeds out those who aren’t serious about buying, he says.

“At the same time, investors who are registered as buyers on the app will be alerted to property sales that match with the profile they have created. If that profile is specific on their requirements they will be alerted to potential deals before they hit the market.”

The app should be particularly useful for investors because they are serious about property and genuinely interested the market, says Harvey, who has been a real estate agent for over 20 years.

First launched in April, the uptake of the app since has been strong with over 1,000 purchasers signing up and over 150 sellers registering a property for sale [at the time of writing].

It is possible to find out more about the app, which Harvey plans to develop into a one-stop-shop web-based management service which will include data and access to relevant professionals like lawyers and mortgage advisers, at https://yelsa.co.nz/.