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New player enters vendor finance game

By Grace Ormsby
03 February 2021 | 11 minute read
Lucas McEntee reb

A new product has made its way onto the seller’s finance scene, claiming to make it easier for vendors — and their agents — to garner the best possible price from a sale.

Touting itself as offering an “Australian first”, SaleFunder provides direct access of funds from $3,000 up to $60,000 to people planning to sell their home or investment property.

According to SaleFunder’s founder and CEO, Lucas McEntee, the product “is aimed at making it easier for every property owner and their agent to get the best possible price from a sale”.

A major aim of the product is to support agent recommendations and the sale process, and covers items such as renovations, repairs, landscaping, property advertising and marketing, styling, solicitor’s fees and inspection reports.  

While hundreds of real estate businesses are reported to already be offering SaleFunder to their clients, consumers are also able to apply for the finance directly.

Where consumers do apply through SaleFunder, ongoing leads are created for partner agents, Mr McEntee flagged.

“We noticed that many new customers were looking to access the product before they had selected an agent and thought this was a wonderful opportunity to support our real estate partners, so we went about creating an automatic lead generation process,” he said.

SaleFunder does not recommend agents or shortlist a panel, it will simply provide the details of local market partners for consideration, which Mr McEntee said has proven successful so far.

“We expect volumes will only increase as we begin to aggressively market the direct-to-consumer product over the coming months,” he has forecast.

Weighing in on the launch, Century 21 Australasia chairman Charles Tarbey said home owners and agents alike have been waiting for a comprehensive product such as SaleFunder.

“In nearly 50 years of real estate, I have lost count of the times I saw vendors achieve a higher price for their home by improving the way it was perceived by buyers.”

The chairman added that, on the flipside, “I also recall countless cases when vendors didn’t follow an agent’s recommendations to undertake some small improvements or run a more aggressive marketing campaign, and this likely cost them money in the end”.

He argued that simple things, such as “a small renovation, a fresh coat of paint or even a backyard makeover, can make all the difference in attracting strong competition for a property, which can often mean a better sales price”.

New player enters vendor finance game
Lucas McEntee reb
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Grace Ormsby

Grace Ormsby

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.

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