Australian basketball star Andrew Bogut has endorsed Listing Loop, a proptech start-up that consolidates “just listed” and off-market property listings from top real estate agencies. As an investor and ambassador, Bogut aims to promote the company’s vision of a real estate model that benefits everyone and educates consumers about off-market property transactions. Having developed a keen interest in real estate, Bogut’s experience in Silicon Valley while playing for the Golden State Warriors has fueled his enthusiasm for technology investment.
Bogut stated, “I enjoy getting in on the ground floor with companies I believe are going places. Listing Loop is transforming real estate for the benefit of everyone as it’s the only platform designed for buyers, sellers and agents to all come out on top. From first-hand experience, I see that off-market property sales are growing and Listing Loop fills a gap by centralising off-market properties into the one convenient location,”
Listing Loop, a real estate platform that specializes in off-market properties, has attracted the interest of seasoned investors in both the tech and property industries. The company successfully raised $3.3 million in its initial capital raise, in addition to capturing the attention of these investors along with former NBA player Andrew Bogut.
Listing Loop defines off-market properties as those that are available for purchase but are not advertised through traditional channels of marketing.
- Pre-market: Referring to “just listed” properties that have recently been signed up by the agent for listing with the seller. It may take up to 10 days for the agent to prepare the necessary marketing materials to showcase the property on leading real estate websites. During this period, a potential buyer who is eager to make a purchase might miss the opportunity to learn about the property.
- Affordability: In order to avoid the upfront expenses associated with property marketing, some sellers may opt for an off-market sale. This is particularly true for those who are working with a tight budget. For instance, in Melbourne, the average cost of a property marketing campaign can range from $6,500 to $8,000.
- Privacy: Some sellers, particularly high-profile individuals, prefer a more confidential approach to selling their property. They may also opt for an off-market sale if they do not have an urgent need to sell. In such cases, the property is sold without any advertising campaign, and the seller relies solely on the agent’s network of buyers to find potential buyers. Unfortunately, other interested buyers who are not registered with the agent’s database might not be aware of the property, even if it matches their buying criteria.
Listing Loop is a unique real estate platform that brings together off-market properties for sale from various leading agencies, not just one. This centralizes the process for buyers, who can easily access these exclusive properties without the need to browse multiple databases. Additionally, buyers receive priority access to just listed or pre-market properties, giving them an edge in discovering their dream home before others.
Sellers can utilize Listing Loop’s services through their agents, with the added benefit of a no sale, no charge fee structure. This means that sellers do not have to pay substantial upfront marketing fees to advertise their property for sale, reducing risk and maximizing potential profits.
For agents, Listing Loop presents a valuable tool for increasing their number of listings and selling properties faster. The platform connects agents with a wide network of qualified buyers, enhancing their ability to match the right property with the right buyer. Overall, Listing Loop provides an innovative solution for the real estate industry, benefiting all parties involved.
According to Rhett Dallwitz, CEO of Listing Loop, a growing number of real estate agencies in urban areas are conducting between 10 and 35 percent of their residential real estate transactions off-market. Listing Loop aims to become Australia’s primary platform for off-market properties, with a goal of national expansion. During their soft launch in Melbourne, over 650 agents have signed up and uploaded over $500 million worth of property, resulting in thousands of property leads and sales.
To make investing in their platform more accessible to a wider range of individuals, the company’s founders have launched an equity crowdfunding campaign. With as little as $250, investors can enter the market and grow alongside Listing Loop, potentially benefiting financially as the company expands. Dallwitz notes that many of the world’s most successful companies began with equity crowdfunding, and he hopes Listing Loop can follow in their footsteps.
