COVID-19 has proved an unexpected coup for one online platform provider.
Market Buy has reported a “phenomenal” rate of growth, adding more than 1,000 new agents in the last two weeks alone to its books.
This has effectively doubled its user database, and Market Buy is now handling well over 300 sales at any time.
Dave Stewart, the owner of Market Buy, has highlighted that the company is the “only platform that is able to offer agents auction, sale by fixed date and private treaty styles of sale”.
In the age of the coronavirus pandemic, he has noted that sales on the platform are easy to set up.
“Buyers, property sellers and agents benefit by having their sales available to all participants 24 hours a day, seven days a week — from anywhere and from anyone who has an internet-capable device,” he said.
“Agents can receive offers, make counteroffers, set times, set end dates and run competitive auctions, all from their mobile phone,” Mr Stewart said.
He is of the belief that Market Buy “is uniquely placed to provide the sort of customised solutions to the real estate industry that is so desperately needed in this strange, new social distancing world”.
“Even more importantly in these tough times, we only charge on success,” he added.
“If agents don’t sell the property, they don’t pay us, it’s as simple as that.”
Acknowledging that in the past two weeks alone, Market Buy has “exploded” across the real estate landscape, Mr Stewart cited a “white label solution”, which allows agents to brand up their own accounts in their colours and logos, and a “network solution”, which has allowed the proptech offering to be rolled out to agencies including Barry Plant, Stockdale & Leggo and RE/MAX WA, as pertinent to the proptech’s success.
“We are currently in discussions with a number of other large groups who are looking to Market Buy’s innovative model to provide an overall online-offer solution to their entire networks,” he highlighted.
Previously, Mr Stewart said they “could see a time when agents would need us and that online transactions would enter the mainstream, but we could never have anticipated the COVID-19 pandemic”.
“We firmly believe that as a proptech product, we should stand by our success and live and die by ultimately how useful we are to our clients, the agents,” he stated.
ABOUT THE AUTHOR
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.