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Does the idea of buying property entirely online with no need for human interaction seem far-fetched? One company is making it happen.
A new ‘Online Reservation System’ from property marketplace iBuyNew.com.au is seeking to revolutionise the property market by encouraging transparency and lessening the need for human interaction in new and off-the-plan property transactions.
“This is a revolutionary development in real estate. To be honest we can’t even find anyone globally who has deployed this technology before like the way we have,” said Mark Mendel, founder and CEO of iBuyNew.com.au.
“We are always looking for ways to make the process of purchasing new property easier for prospective buyers. This system means buyers no longer have to wait for a real estate office to be open in order to put down a deposit on a new property... it allows a buyer to reserve their desired property in a matter of minutes at any time of day from anywhere in the world. Even a foreign investor in China can simply log on to the reservations system on our website and secure a property in Australia,” said Mr Mendel.
The technology, developed by IBN, allows buyers to browse, view full price lists, floor plans and related property documents, then reserve their chosen property though a three-step process by supplying purchaser, solicitor and deposit payment details.
The company believes this new tech will not only make it easier than ever before to purchase new property, but also improve transparency.
“iBuyNew is committed to using technology to reshape the new property buying experience, making it fairer, more efficient and more transparent. Our plan is to become the number one destination for new property buyers in Australia,” Mr Mendel said.
IBN has recently turned its eye to the Australian property market, last month acquiring Nyko Property, a research and advisory business servicing the needs of mortgage brokers, accountants and financial planners.
Off-the-plan is a property before any structure has been built upon it, usually marketed by developers so that they can have funding and that buyers can secure favorable finance terms.
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.