The first of its kind, the app allows buyers and sellers to negotiate a price for a house, and also lets them see where the house is located in relation to other properties.
A buyer can request that the app’s location be updated automatically and the seller can pay the fee for a precise location of the house.
“It is the first time a buyer and seller can work directly on the same property,” said Avi Golan, a real-estate agent and founder of Golan Group.
“We expect it to expand the possibilities of real estate and bring more people into the business.”
The new app will be available in the coming weeks for a price of 2,500 shekels ($26), according to Golan.
This price includes a 1,500-shekel ($20) deposit, which the buyer must use for the app and a 10-day trial period.
“I believe the app will expand the number of people in the industry, so it is good for the entire economy,” Golan said.
“Venmo has created an opportunity for real estate professionals to work with their peers in the field.”
The app’s developer, Yossi Bar-Sulik, said the app is already being used by many Israelis to make a quick and easy decision on which property to buy.
“There are hundreds of different properties in Jerusalem,” he said.
The app is still in development, and the developer said the developer is still waiting for approval from the Israeli government.
Bar-Silik said that he hopes the app can expand to other parts of Israel in the near future.