Brickfloor is working with Melbourne and Sydney real estate agents to transform the way Aussies sell their home. A win for the seller and a win for the agent, our Market Price Guarantee is a commitment to buy a property for a competitive price if the vendor doesn’t get a higher offer at auction. Unlike overseas iBuyers such as OpenDoor and Zillow Instant Offers, a key feature of the Brickfloor model is that sellers test the market by running a private sale or auction campaign with their preferred agent. We want seller’s to get the upside if the market supports it.
As Brickfloor’s CEO and Founder, Dean Fraser, says “Agents can use Brickfloor to differentiate themselves by showcasing innovation – this is a great way to stand out and secure the listing. Agents are also using Brickfloor to bring forward the listing decision and as a way to qualify more purchasers for a vendor’s home – often a purchaser needs sale certainty before moving forward on their next purchase”.
We breakdown how Brickfloor is working with agents and how our model can benefit yours.
1. Listing Tool
Ask almost any agent, the most important part of business is winning the listing. Agents are constantly looking for ways to differentiate themselves from their competitors at listing presentations. What could be more appealing to sellers than a guaranteed sale at a competitive price, essentially locking in the seller’s reserve?
Not only are we seeing agents winning listings by introducing our Market Price Guarantee, they are also able to encourage home sellers to bring forward their listing date knowing that there is an acceptable sale outcome guaranteed by Brickfloor. A case in point was a decision by a seller to sign the agent’s authority period and bring forward their listing date by 6 months after receiving a competitive, guaranteed offer from Brickfloor.
2. Gives Sellers Confidence to Invest in Marketing
Agents report that vendors are more comfortable investing in marketing their home when they know the money won’t be wasted. With a Market Price Guarantee in place, sellers can be certain their home will sell for a competitive price and that their marketing dollars won’t be wasted. And a great marketing campaign gives sellers the best chance of getting more.
Brickfloor’s Market Price Guarantee also avoids those awkward discussions regarding marketing fee payment where the home has not sold and the agent had funded the marketing fees.
3. Ability to Qualify Purchasers
Agents are also using the Brickfloor product to qualify more purchasers at their opens (and on their Monday morning buyer calls). Agents report that around 2 in 10 buyers like the home they are viewing but practically can’t move forward until they have sold their current home. Brickfloor’s Market Price Guarantee solves this problem. It lets the buyer know how much they can afford to spend and smooths discussions with lenders who typically include a condition in their loan pre-approval that the purchaser’s current home is sold for a specified price (or higher). Brickfloor’s offer locks in that specified price. Having two additional buyers at an auction or private sale campaign can obviously help achieve a great result for your vendor.
As well as qualifying more purchasers to get the best result for the vendor, when offering the Brickfloor product to purchasers, the agent can also offer to help sell the purchaser’s current home. What better way to secure another listing!
4. Guaranteed Sale and Commission
Agents lock in the sale and their commission where the seller uses Brickfloor’s Market Price Guarantee. What better way to start the campaign than with a successful result and the possibility of getting an even higher price?
5. New Seller Leads
Home sellers often contact Brickfloor early in the process and may ask us for agent recommendations. We are working with highly rated agents with significant sales experience and are delighted to pass on leads to them.
If you are an agent and are interested in working with us in the above ways, we would love to hear from you. You can contact us here.
