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Proptech iBuyer Brickfloor Is Transforming the Real-Estate Industry in Australia

By Apac CIO Outlook | Wednesday, November 20, 2019

Australian proptech enterprise Brickfloor launched its ibuying platform recently with a value of my Consents.

FREMONT, CA: The novel Australian proptech enterprise Brickfloor launched its ibuying platform recently. As per the claims of the firm, the new platform has the potential to disrupt the home selling process in Australia.

Homeowners undergo a massive amount of stress while selling their property; Brickfloor aims to make the property selling procedures stress free by eliminating the uncertainty pertaining to them. A property sales campaign is organized in order to provide the home sellers with a home price guarantee that ensures 100 percent sale while in a property sale campaign.

The Home Price Guarantee fulfils the role of an insurance policy for home sellers as Brickfloor commits to the purchase of the sellers' home for a competitive price. The process allows the seller to keep 100 percent of the difference if he receives a higher offer for the house during the sale process. If not, Brickfloor will buy the house for an agreed price.

A charge of two percent of the offer price is payable to Brickfloor after the settlement process is done. Brickfloor extends peace of mind to the sellers, the ability to purchase what they sell safely, and leverage to extract higher offers from other buyers.

The company's investors include ANZi Ventures and Harris Capital, along with an advisory board including Matthew Quinn, Saul Eslake, and Geoff Harris. Brickfloor is the second iBuying platform to be deployed in Australia along with LJHooker and RayWhite backed by Sellable.The major difference between these two firms is that Sellable buys properties and flips them while BrickFloor fixated them in a real estate investment trust (REIT) for investors who are looking to gain exposure to residential real estate.

"Buy first" is an excellent strategy in a rising market, but research shows less than 20 percent people intend to do this due to the shrouding uncertainty around the sale process. Brickfloor eliminates this uncertainty and empowers the property owners to buy first.

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