Flatfair, one of the leading deposit alternative providers fighting it out for dominance in the burgeoning sector, has scored a coup by partnering with the newly-formed Federation of Independent Agents.

In what it calls an exclusive deal, the partnership will provide FIA members with preferential commission rates, helping them to compete with larger agents.

The FIA is an invited member-only network of independent estate agents, with only one member per town; its objective is to allow member agents to benefit from multiple approved supplier deals.

“Our cutting-edge payment technology is bringing renting into the 21st century by making instant move-ins possible through a platform that is transparent and trustworthy. We’ve already partnered with major real estate firms like Greystar and CBRE and it’s fantastic that we are now able to partner with independent agents through our deal with the FIA” explains flatcar founder and chief executive Franz Doerr.

And Graham Lock, founder and chairman of FIA, says: “When you’re looking for a place to rent, it can be tough to know if the agent you are using will be professional. The FIA aims to make this a thing of the past by ensuring all our members are invite-only and vetted through a stringent process. The upshot of this is to make renting fairer and more transparent, which is exactly what flatfair are trying to do as well, making us natural partners. 

“I’m looking forward to working with flatfair in providing our members with a modern, robust solution for deposit replacements. The added benefit of corporate style commission rates aligns with my strategy to get the best deals for my independent members.”

Prior to establishing the FIA, Lock served as chief executive of online agent House Network, and managing director at The Property Franchise Group overseeing four traditional estate agency brands that were Whitegates, Parkers, CJ Hole and Ellis & Co.

flatfair recently raised around £9m in a funding round led by Index Ventures. The platform will use the funding to hire product engineers, data scientists and business development specialists, and develop new features.