Property wanted site - owners to respond

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ascroft

396 posts

Ultimate Geek

#311949 29-Feb-2024 13:15

Hi all.

I am advising a client on a concept and keen to get feedback from the Geekzone team as to your thoughts as this progresses.

1. Would this appeal as a buyer and why?

2. Would this appeal as a seller and why?

My thoughts were, as a buyer, its a low pressure model as you are expressing an interest and can use the site to engage with initially with whoever you choose.

As a seller, you may avoid listing and other selling fees by direct engagement with a potential buyer. It would be the sellers choice to engage a real estate agent or not, as it is today.

The issue I see is that there would be a lot of tyre kickers potentially so could be time consuming at times.

Appreciate the feedback.

Mark

common sense is not very common

marpada

475 posts

Ultimate Geek

#3201580 29-Feb-2024 13:54

I think the idea has potential. As a buyer one of the benefits of hiring a Buyers Agent is that they can source "off the market" properties, but I'm not really sure how they find about them other than talking to other Property Agent. BA offer additional advice about the properties, but they are not cheap, so I think a "Buyers Agent as a Service" site could be disruptive.

wellygary

8319 posts

Uber Geek

#3201581 29-Feb-2024 13:59

My $0.02

1) While it might help seller avoid some fees, they are required to basically then undertake a private sale, now for some this may appeal, but for many they don't want the hassle and are prepared to pay and agent to manage the offers and deter the "tyre kickers"-

2) The site will end up in competition to selling agents who maintain lists of prospective purchasers that they will attempt to match with selling clients before going to an open market position...

Price is often the overriding factor in property sales, when there are more buyers than sellers vendors will often engage in a tender or auction process, ( usually managed by the selling agent) - having to arrange such processes as an individual may be burdensome for many vendors.

Your model is likely to be more attractive when market power is more in the hands of the purchasers (lots of houses, few buyers). NZ appears to again be entering the reverse with fewer houses and more buyers, which give power to the vendors to dictate the process, ie. buyers can come to them

wellygary

8319 posts

Uber Geek

#3201585 29-Feb-2024 14:09

marpada:

But I'm not really sure how they find about them other than talking to other Property Agent.

I've been written letters by agents looking to buy our house , They mentioned that they had a number of Clients looking to buy in particular streets in our suburb,

Most of the time I suspect they are able to "nudge" a property on to the market that was likely to come on a few weeks/months... but I think the sellers would probably still go down a tender or auction process, unless the offer was well above "market"

Senecio

2710 posts

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#3201603 29-Feb-2024 14:31

It sounds like the Builders Crack model but for selling your house.

Personally it wouldn't appeal to me as either a buyer or a seller. I'm happy to use builders crack when I want someone to undertkae some landscapping or install a couple of power points. But when buying/selling a ~$1M asset I wouldn't want to use a model such as this.

SATTV

1648 posts

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#3201626 29-Feb-2024 15:16

I think it has its place if you have a niche house i.e. Disabled access

Finding something like this is very hard so having a place and list and hunt would be good.

John

I know enough to be dangerous

Eva888

2430 posts

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Lifetime subscriber

#3201642 29-Feb-2024 15:48

I would definitely use it. I like knowing the price when buying and if my offer is accepted, happy to go to my lawyer to sort out the paperwork. As a buyer I don’t like auctions or tenders. Any time I have contacted an agent on trade me, have had very little response except for them sending the listing details.

Goosey

2829 posts

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#3201646 29-Feb-2024 15:50

It would become an additional tool for real estate agents and rental agencies.

they would use it for sellers and buyers.

realestate.co.nz seems to be popular as well as trade me.
And there’s a few private sale type web sites already.
Add that to the usual real estate agent sites…. There’s a lot out there.

I think your client would actually need to consider what type of marketing and how much they are prepared to spend on marketing and brand / service awareness…. to get people to trust this site, trust that it works, isn’t a nuisance like say Facebook market place or trade me ?

does anyone ever trust Facebook ads nowadays? Does anyone pay attention to you tube adds while they are looking at the skip button to be active? Does anyone look at the banners on news sites and magazines and newspapers ?

AliExpress

Shop now on AliExpress (affiliate link).

ANglEAUT

2320 posts

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#3201805 29-Feb-2024 21:33

Goosey:

...

realestate.co.nz seems to be popular as well as trade me.

...

It certainly wasn't 3-5 years ago. Can the OP's client hold on that long to build the brand recognition?

Please keep this GZ community vibrant by contributing in a constructive & respectful manner.

ascroft

396 posts

Ultimate Geek

#3202390 2-Mar-2024 14:06

Thanks for everyones comments - very helpful.

Key to this IMHO is having a critical mass - so getting a suitable partner on board is essential to any launch to minimise marketing costs, and looking to scale in a speedy fashion. This engagement will be underway soon.

Mark

common sense is not very common