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OLX Rolls Out a Service For Online Car Sellers and Buyers

BY Soko Directory Team · April 25, 2017 09:04 am

OLX Kenya on Tuesday launched a safer, convenient and more innovative platform, the Sell It For Me (SIFM) service that is meant to allow car sellers to pay for an get who will sell the car on their behalf.

The SIFM service is a premium service from OLX where the posting and selling of items are done by verified OLX Champs. This involves a verified OLX Champ posting items for sale on behalf of the seller. After posting on behalf of the seller, OLX champs takes over the responsibility of actively looking for a buyer for the item. The OLX Champ not only posts the item, but also manages the entire account, and oversees the entire transaction until a buyer is found. The seller will only be involved at the point of sale.

Following a detailed research conducted by OLX, they found out that a total of 100,000 cars are traded annually, out of which 40 percent are traded on OLX. However, buyers and sellers are still looking for even safer and convenient methods to sell their cars using technology as a way to trade. The majority of the car dealers now use online platforms to sell their cars and this is what prompted OLX to come up with SIFM.

The fast-paced automotive industry that is quickly adopting technology also led the online company to come up with a more innovative service that guarantees safety to sellers and buyers on their platform by offering an escrow service where the buyer deposits money on OLX and once they are satisfied with the vehicle, money is released to the seller. The seller, on the other hand, will sell his car conveniently through verified OLX agents who handle the entire selling process making it convenient for them.

The service is geared towards using the OLX platform to make it more convenient and safe for car buyers and sellers. With an increasing number of buyers and sellers now using technology as a way to trade, payment is also key in ensuring that online trade is seamless. Devising new ways of how payments are done online is something OLX is working towards.

 

 

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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