In the best of circumstances, buying or selling homes is not an easy task. Most homes, it might be said, are littered with regrets.
Take Liam Austin, the founder of the newest startup bidding to disrupt the real estate market – and take regret out of the equation.
He bought a house after spending more than many – nine months of “intensive” search. Guess what? Two weeks later, a better-priced and better-matched home came on the market.
There’s a reward for waiting
Austin says he was furious: “Why didn’t I know the owner was looking to sell?” That was two years ago and formed the basis for his motivation to start Next for Sale Pty Ltd., launched Oct. 1.
“I did some research and found that the typical home owner takes up to six months from deciding to sell, to actually listing a property for sale. So there was likely six months where we could’ve met and both saved time, money and heartache,” Austin says.
Next for Sale believes its real estate listings allow everybody involved in the process easily gauge market interest without committing to buy or sell. The site, for example, allows home owners to simply register their property.
“Home owners are better able to understand the buyer demand for their home by simply telling the market their property will be for sale soon,” Austin points out. “They can then readily track buyer interest and use the information to help make informed decisions. Buyers can also show their interest and gain a head start on competitors.”
Nation-wide rollout planned next year
Next for Sale says its currently lists over two million properties in NSW that buyers can add to their favourites list to be notified when an owner signals their home will be coming available. Austin plans to extend roll out the listings nationwide next year.
Austin, who has previously held marketing positions at Match.com, CBS Interactive and Digital Performance Group, has roped in some of the biggest names in property. Among them are Colliers International and Crown International, both of whom pay to list their new apartment developments on Next for Sale.
Among other service providers added at the launch are Herron Todd White, EYEON, Teddington Legal, Vengent and Top Snap.
Austin’s partners in the venture include Warren McCarthy, former CEO at LJ Hooker; and John Steedman, CEO and chairman at GroupM Australia. Both are on the startup’s advisory board.