Australian property start-up Brickfloor is eliminating home selling stress by providing a Home Price Guarantee for sellers.
Working alongside leading real estate agencies, including Marshall White, and acting as an insurance policy for home sellers, the Home Price Guarantee product sees Brickfloor commit to buying the seller’s home for a competitive price that’s locked in before they even list.
If the seller receives a higher offer during the agent-led sale process, the seller sells to the third party and keeps 100 per cent of the difference.
If not, Brickfloor buys the home for the agreed price. Brickfloor charges a fee of 2 per cent of the offer amount, whether the home sells to a third party or to Brickfloor, payable upon settlement of the home.
“In my 40-year real estate career, Brickfloor is without a doubt one of the most innovative products to come to the real estate market, providing sellers with total certainty and genuinely addressing the age-old dilemma of whether to buy or sell first,” Marshall White chairman, James Connell said.
Meanwhile, Marshall White director Madeline Kennedy noted Brickfloor provided immense peace of mind to a recent client and removed the usual risk and sleepless nights from the sale campaign.
“It put them in a position to reject lower offers and allowed us to stay firm in the negotiation knowing that we had a higher price offered by Brickfloor,” Ms Kennedy said.
Ms Kennedy’s client, Michael Reidy, was able to secure an additional $200,000 for his home by confidently withstanding buyer pressure to accept a lower offer after his home was passed in at auction, knowing he had a higher price from Brickfloor.
“Brickfloor was a game changer,” Mr Reidy said.
“They removed the sale stress and we were able to safely plan our next purchase. Brickfloor provided sale certainty and their model allowed us to find upside. Brickfloor empowers sellers like us.”
Brickfloor noted it was “terrific” to see the product providing real certainty for home sellers.
“Sellers are celebrating their sale success before they have even listed and are then obtaining a competitive advantage during their sale campaign through using our offer as leverage to extract higher prices,” they said.
“It is also great to see leading real estate agents embrace our product – both for their sellers and buyers at opens who need to sell to buy.”
As a part of a wider mission, Brickfloor is also seeking to build an affordable housing platform for financially vulnerable Australians.
Brickfloor’s goal is to curb homelessness for 400 Australian families by allocating 20 per cent of the properties it acquires to below-market rentals for those in need.