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PropConnect (VIC)
This innovation initially came to life when…
Founder Asaf Brukarz, through his background in the smart technology and property development industries, and his family’s property background, identified a market need for an effective real-time, online reservation platform that would connect property developers with sales networks to achieve higher property sales volumes. After speaking to a multitude of industry participants, from property developers to salespeople, a common theme of a lack of transparency and real-time information was identified.
WHAT & HOW
The purpose of this innovation is to…
Change the way that new property developments are sold by bringing about the demise of emailed property price lists and providing developers with the tools necessary to efficiently run multimillion-dollar developments on something more sophisticated than Excel.
It does this by…
Centralising important project information in a secure, online platform; providing real-time availability information, just like most ticketing systems; controlling and securing access to sensitive project data; reducing project risk by eliminating the possibility of selling the same property twice, or offering a property for sale that has already been sold.
PURPOSE & BENEFITS
This innovation improves on what came before because…
The industry’s current tools don’t extend much further than Google Docs and YouSendIt. Timeliness and ease of access to relevant project information makes an industry more efficient, and while rudimentary online systems may suit smaller projects with a limited number of stakeholders, larger ones have far more participants involved in the selling process, and better control mechanisms are required.
Its various benefits to the customer/end-user include…
The ability to manage the sales on a project by utilising sophisticated systems that provide ease of access to third parties, while maintaining control and improving sales performance. For salespeople, PropConnect provides surety that information is always current and up to date.
COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Emailing a pricelist to a sales network on a weekly basis. Agents would then distribute the list to their staff. When an agent wanted to sell a property, they would call the developer to check on availability. Organised developers could provide accurate information quickly and distribute updates in a timely manner…most couldn’t.
Its predecessors/competitors include…
The status quo. PropConnect’s toughest competitor is the status quo in an industry that does not adapt to new technology or new systems quickly.
TARGET MARKET
It is made for…
Residential property developers, project marketers, sales agents and referral networks (mortgage brokers, financial planners, etc.) involved in medium-to-high-density property developments. Australian residential property development is a $38-billion-per-year industry and there are more than 3,000 property developers across Australia, and tens of thousands of mortgage brokers, financial planners, accountants, migration agents and other trusted advisors who are involved in the new property industry.
DISTRIBUTION STRATEGY
It is available for sale through…
Online, through the PropConnect.com website. The system is completely self-service and allows someone to get started with minimal effort.
Our marketing strategy is to…
Target key property developers though a focused sales campaign, as well as develop the social networking aspect of the system by encouraging users to invite others to join the system. Our user-base expands quickly and with minimal effort every time users invite someone to look at properties they have for sale.
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