Seven businesses disrupting the real estate industry in Australia

| October 26, 2016

property ionnovation and new technology IPO

The Internet has brought massive change to many businesses and industries. Other than being used as a means for advertising properties, the Internet has not brought a great deal of change to the way real estate agents operate in Australia. This is about to change with the arrival of several new businesses which are set to change the way the industry operates.

Innovative new property businesses in Australia

Purplebricks.com.au – Purple Bricks is a new flat fee real estate agency from the UK which is just starting in Australia. Savings are made by having vendors show potential buyers around the property and buyers can submit bids for a property and sellers can accept or reject them, right on their website. Prices start at $4,500 for a listing with various other options that can be added on. They operate a call centre taking enquiries 24 hours a day. Michael Bruce is the co-founder and CEO of the company. Ryan Dinsdale is the CEO of Purplebrick’s Australia and is the former marketing director for Virgin Money Australia.

Hello Real Estate – Hello Real Estate is another low cost, fixed fee real estate agency. They charge a fixed fee of $9,900 to sell a property. Agents are called “mentors” on the site and help customers to list their properties on the major portals such as realestate.com.au and domain.com.au.

RealAs – RealAs is a website which help gives free price estimates for properties in Australia. The site is aimed at property buyers and investors, where they can exchange information for a particular home. The site is still under development, but they have an interesting feature planned where they will rate estimates agents value a property for against how much the property is finally sold for. Registered users can also make comments about a particular property. Their CEO Josh Rowe recently won the Westpac Innovation Challenge. They won a $40,000 cash prize and a six-month placement in the BlueChilli accelerator program.

Performing Agents – Performing Agents offers property sellers, free reports listing the top agents in a particular suburb. They company researches who the best selling agents are and provides written recommendations. The premise is based on the fact that the top selling agents by price and volume, will be able to fetch the highest price, in the quickest time for property sellers. They also factor in ease of communication and quick response times with agents in their recommendations.

Buymyplace – Buymyplace offers commission free property listings, where people can sell their own property privately, without an agent. They have various packages available such as professional photography and for sale boards. The company says they have seen continuing growth as there has been a bit of a decline in the property market. The company is also expanding into mortgage lending, personal loans and insurance.

ReValu8 – ReValu8 is a Queensland startup that recently received $1.5 million in funding. They offer a platform where property buyers and sellers can deal directly with each other or through an agent. They promise a more transparent process. Sellers can set their own commissions and level of advertising they would like to spend.

StickyBeac– Stickybeac is Sydney based startup that offers an interesting hardware and software technology for real estate agents. On open inspection days, beacons are placed in rooms around the property and buyers can trigger the beacon when they are close to the beacon, to get additional information about the particular room or section of the property.

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Category: Business property, Housing

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Property man writes articles related to property , stock market and finance. if you like what you see do bookmark the blog and leave me a comment

Comments (2)

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  1. David Forbes says:

    Hi Property man. Nice article. In addition to the list you have above there is also my company’s site, https://www.propertynerd.com.au. Currently we provide full listing histories so buyers can see what prices a property has been advertised at in the past, not just current asking prices. We have also announced plans to disrupt the residential real estate market by allowing the public to place bids on any property, whether it’s presently for sale or not.
    Very happy to discuss with you if you are interested. Kind regards, David Forbes, CEO Stagecoach Software Pty Ltd.

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