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New avenue for off-market properties kicks off in Sydney

By Staff Reporter
10 June 2022 | 9 minute read
Richard Cohen reb

A brand-new app for off-market properties has been launched in NSW, with the aim of giving agents access to a bigger audience.

Richard Cohen is one of the brains behind Profound, which enables agents to advertise unlimited off-market listings and get broad market feedback on price, via a subscription fee.

He said that Profound “gives agents a platform to advertise off-market listings discreetly”.

“Agents have limited channels to promote off-market listings. Consequently, with a smaller buyer pool, they potentially miss out on getting a higher price for their sellers,” Mr Cohen said.

According to the co-founder, off-market listings would ordinarily only be marketed to an agent’s database of prospective buyers – and through buyer’s agents.

But now, with Profound, agents can “action a native exclusivity agreement in-app with the seller; select the vicinity radius of the property, upload the property in seconds and collect buyer contact details as interested parties reach out”.

Once uploaded, Mr Cohen revealed that the listing can then still be shared via email and social media “without revealing identifiable details of the exact property”.

He also touted that “the built-in agency agreement in the app allows agents to formalise their relationship with the off-market vendor quickly and legally”.

Already available to agents across NSW, Profound has reported that the app would be gradually rolled out across Australia, with a focus on metropolitan areas before expanding into holiday home destinations and certain regional markets.

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