By Peter Cai
It is only open to property developers, real estate agents, financial planners and immigration agents — individual buyers cannot access the site. “We are purely business-to-business.
There is a whole ecosystem of players in the sector, from big property developers to suburban real estate agents, benefiting from foreign appetite for Australian bricks and mortar.
Ellis says he has more off-the-plan projects on his website than realestate. com. au, the most dominant property sales platform in Australia, which is majority-owned by News Corp Australia, publisher of Business Spectator.
We have a lot more information on properties than other sites and manage transactions on our site too,” Ellis says. “We are more akin to a very large project marketing agency than an off-plan property site.
Ellis believes that if you are a Chinese national who is not familiar with the Australian market, it is unlikely that the potential buyer is going to begin an unguided self-search for off-the-plan properties. “Your search will be guided by experts and local experts in your country,” he said.
Meanwhile, Investorist has multiple revenue streams, such as listing fees from property developers, real estate agents and financial advisors, and transaction fees.
And as to the controversy and the intense media focus on overseas buyers and Australian real estate, Ellis says the debate is “completely misguided”.
Ellis, who once worked for the property development giant Mirvac as a marketing manager, describes the evolution of his business as a "very slow burn". "I didn’t have a light bulb moment in the shower like most online entrepreneurs do," he said.
Ellis also licenses his software to large real estate agents for $4000 a year.
Read more here: Business Spectator