One industry start-up has taken the prop-tech wave sweeping through the industry to the next level with an intelligent new platform that promises to change the way buyers and sellers interact with each other, saving them both time and money.
Next Address is an online platform that matches buyers to properties using an iterative algorithm, matching wish lists with listings.
Next Address founder Julie O’Donohue said that the platform is online dating for the property world.
She said that her own experience working in real estate led her to create it, adding that she was after something that is transparent, offers more affordable options and saves time and worry.
“Australia’s inflated property market is overwhelming,” Ms O’Donohue said.
“And so is the traditional process of buying and selling a home, with many people feeling frustrated with high costs, inaccurate property valuations and a lack of communication.”
Ms O’Donohue added that the new platform could save Australians up to $20,000 as well as “significantly” reduce a property’s time on market.
She also said that there is an opportunity for agents to use the platform as a business tool.
“For the first 90 days following our launch, agents can list their homes for free, and we’ll waive the $850 listing fee,” Ms O’Donohue said.
“Next Address has also introduced an ‘agents in residence’ program where users on the site can receive guidance and services from the site’s list of trusted real estate agents.”
Next Address has created a “new vision” of the real estate model by embracing a “strong” philanthropic focus. It will donate 6 per cent of net profits to charities, which are rotated every six months and selected by users on the site.
Next Address currently has 6,000 registered properties.