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Selling a property can be a stressful experience, and it can sometimes be difficult for vendors to stoop up enough cash to market their home.
One company has tried to make the process easier by allowing vendors to put off paying up to $25,000 in marketing until after settlement.
This is part of MoneyMe’s new proptech ListReady, which provides a digital solution for sellers’ marketing costs.
The company has been testing its user experience during the last six months, and it is confident it is ready for the market.
More than 100 real estate agencies have already signed up, including Ray White, LJ Hooker, Laing+Simmons, Raine & Horne and Biggin & Scott.
The cash vendors can access from ListReady can be used to cover all marketing costs, ListReady CEO Clayton Howes said.
“If ever there were an industry ripe for disruption, it’s the $6.6 trillion leviathan residential real estate sector, which Australians spend just under $1 billion on advertising per year,” Mr Howes said.
“This is the industry that determines where and how we live, our aspirations, and where family values are formed.”
The technology used to support ListReady will come from MoneyMe’s online personal loans business.
“Just as getting a personal loan was needlessly complex before MoneyMe came on the scene, the process of buying and selling a house is complicated and way too clunky,” Mr Howes said.
There is too much friction in the payment process, he said.
“We are playing a part in solving those failing with technology-enabled payment solutions.”
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