House bidders place over €1bn of offers on properties on Daft.ie

The property site has released figures from its new online offers tool, Offers by Daft, which allows interested buyers to place, and track offers on properties online.

Launched earlier in the year, Daft said the free platform provides transparency and flexibility to home buyers, agents and sellers.

Buyers can view existing offers on a property in real time and can submit their own at any time.

The findings show that 40pc of bidders place offers outside of working hours between 6pm in the evening and 8am in the morning and across the weekend.

Research shows that bidders in Cork are some of the highest adopters of the tool followed closely by Dublin. €335,750 is the average property value of properties using the online offers tool.

Three-bed semi-detached family homes are currently the most popular properties with online offers available. The average time from online offers being open to a property going sale agreed is 21 days.

The chief commercial officer at Daft said the tool is a “direct response” to the needs of those using the site every day.

Adam Ferguson said the aim of the online offer tool was to “improve the journey for everyone involved”.

"We know that purchasing a home can be both a very emotional and a very stressful journey for the buyer,” he said.

“And from our close relationship with agents, we know that the process involves huge amounts of admin and time, especially in managing offers and bidders. We wanted to build a product that would address those pain points.

“At Daft, we understand that nobody is better placed than the estate agent to provide the best experience for Ireland’s house buyers. We believe that Offers by Daft frees the agent up to focus on the client and delivers a great experience for both the buyer and seller of a property.

“For the house 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.”