According to Daft.ie, home bidders in Ireland have placed more than €1 billion in listings online on real estate since February.
The real estate site has released figures from its new online listings tool, Offers by Daft, which allows interested buyers to post and track listings on properties online.
Launched earlier this year, Daft said the free platform offers transparency and flexibility to homebuyers, brokers and sellers.
Buyers can view existing listings on a property in real time and submit their own listings at any time.
The findings show that 40 percent of bidders place out-of-hours offers between 6 p.m. and 8 a.m. and on weekends.
Research shows that bidders in Cork are some of the biggest users of the tool, closely followed by Dublin. € 335,750 is the average real estate value of homes that use the online bidding tool.
Three bedroom semi-detached single-family homes are currently the most popular properties with online listings. The average time from when online listings are open to an agreed real estate sale is 21 days.
Daft’s chief commercial officer said the tool is a “direct response” to the needs of those who use the site every day.
Adam Ferguson said the goal of the online listing tool was to “improve the journey for everyone involved”.
“We know that buying a home can be both a very emotional and a very stressful journey for the buyer,” he said.
“And through our close relationship with agents, we know that the process takes enormous amounts of administration and time, especially when managing offers and bidders. We wanted to build a product that would address those pain points.
“At Daft, we understand that no one is better placed than the broker to provide the best experience for Irish home buyers. We believe that Offers by Daft gives the real estate agent time to focus on the customer and delivers a great experience for both the buyer and seller of a home.
“For the home buyer, it offers complete transparency and flexibility: they can make an offer at a time that suits them, on any device. It saves all parties hours and hours of valuable time.”