A startup based in Victoria has launched a unique service intended to act as an “insurance policy” for home sellers in Australia’s unpredictable housing market.
Brickfloor’s new “Home Price Guarantee” has the company commit to buying a seller’s home for a competitive price based on comparable home prices, the seller’s provided information, market trends, and proprietary models.
If the seller receives a higher offer from a third party during the sale process, the seller can sell to the third party and keep 100% of the difference. If not, Brickfloor buys the home for the agreed price, minus a 2% fee of the offer amount which is payable upon settlement.
Brickfloor said that providing a competitive, guaranteed sale price for homes before listing addresses “one of the greatest stressors for Australian families: uncertainty around selling the family home.”
“Buying first is a great strategy in a rising market, but our research shows less than 20% intend to do this because of uncertainty around the sale process,” said Dean Fraser, founder and chief executive officer of Brickfloor.
“Brickfloor eliminates this uncertainty and empowers homeowners to buy first. Our ‘Home Price Guarantee’ is an innovative advancement in the residential property sector that puts home sellers’ needs first and removes uncertainty and stress from one of the biggest financial decisions of a person’s life.”