After a successful soft launch in Melbourne, Listing Loop is prepared to work with agents across Australia.
Listing Loop offers agents the opportunity to provide their vendors with a no sale, no charge option when it comes to advertising their listed properties.
The company is a marketplace for pre-market and off-market property listings for all real estate agencies.
To utilise the service, a vendor has to partner with an agent to list their property with no upfront advertising fees. It will then be matched to suitable buyers on its database.
“We’ve designed Listing Loop to support the work of agents by helping them to win more listings and sell properties faster, while providing access to a vast network of hot, qualified buyers,” Listing Loop CEO Rhett Dallwitz said.
“Our revolutionary model helps agents make more money, which differentiates us from other platforms that are set up to keep taking it.”
Since launching in Melbourne in May, it has had 650 agents sign up.
The way it works is it charges a success-based advertising fee of 0.22 of a percentage point on the sale price, which is only applied if the property is sold through the platform.
Additionally, to reward agents for the buyers they invite to the platform, it offers them half of the fee when a buyer purchases a property with its service.
Agents who utilise Listing Loop have a personalised dashboard which includes buyer intelligence data, identifying who is actively searching the market.