OLX Kenya unveils ‘Sell It For Me’, an escrow payment service for car dealers

Online classifieds service OLX has launched a new service that now allows car buyers and sellers to transact safely and conveniently.

The service dubbed “Sell It For Me” will, through verified OLX champs, handle the entire selling process on behalf of a vehicle seller. An interested seller wishing to use this service will be required to pay a booking fee of Kshs 2,000 to have an OLX champ matched up with them. The OLX champ then links up with the seller and agree on a selling price within which the champ will get his commission. The champ handles the entire selling process from posting the advert to sourcing for a buyer, negotiating and finally closing the deal. Money is sent directly to OLX and once the buyer confirms receipt of the vehicle, OLX releases the money to a seller. The escrow service that allows direct deposits to OLX, now guarantees safety for the buyer.

Speaking during the launch, OLX Kenya country manager Peter Ndiang’ui said that the service is yet another addition to their platform that will make it safer and more convenient for car traders on OLX and involvement in the payment process will increase buyers trust when making a car purchase. In turn, this will increase the number of buyers looking for cars to their platform.

“With over 100,000 cars traded annually, at least 40% find their way on OLX. It is for this reason we are placing our focus on vehicles first,which is a very key category for our business. As the “Sell It For Me” name suggests, the OLX champs will handle the entire selling process for both the buyer and the seller coupled with a seamless safe payment method. Introduction of these two items, direct payments to OLX and OLX champs to handle selling transactions, are a definite value addition to our users who are always seeking safety and convenience when trading online. It is also important to note that those wishing to continue with a hands off buying and selling on our platform, are still free to do so,” Peter Ndiang’ui said.

The service that has been rolled out in Nairobi only, has currently hired 20 verified and vetted OLX champs with vehicle experience and working directly with OLX to sell vehicles on the seller’s behalf with a verified  badge on every car they post on OLX.

“We are working with car dealers who have vast selling experience and by working through OLX, they get a commission for every car deal they close on behalf of an interested seller. The verified OLX champs are also entitled to our paid adverts for more visibility as well as a verified distinctive badge that will enable them get buyers even faster. We are looking at scaling this to other major counties and are currently focusing on Nairobi only,” added Ndiang’ui.

The Sell It For Me service was first launched in OLX Nigeria where it recorded success and is now being rolled out in Kenya, to be later scaled to other sub sub-Saharan countries. Currently, OLX has operations in 45 countries globally.

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