Australia's first property portal to disrupt the buyers' agent market Seekology has launched today. Exclusively for property investors, Seekology offers its services for free.
Unlike traditional buyer's agencies, which charge the buyer for their services, Seekology is paid by the seller or the seller’s agent and the business claims it will save buyers thousands of dollars compared to the cost of a standard buyer’s agent, which typically costs a minimum $10,000.
The Seekology team of professionals undertake all the services required by a property investor including searching for established and new residential Australian property investment opportunities, evaluating their suitability as an investment and negotiating the price of a property on behalf of a buyer.
Seekology is the final platform to be launched by market newcomer Australian Properties International – an integrated group of property businesses run by real estate industry veteran Vicki Bailey.
National director Tim Godden tells PPW Seekology is the "penultimate part of the Australian Properties International jigsaw".
"Seekology is a disruptor – an industry game changer," Godden says.
"It forever changes the pricing model used by buyers agents throughout Australia for the last 20 years. Seekology has the potential to be a very significant player in its industry."
He adds its innovative and unique pricing model will give Seekology a leading edge against competitors.
"For an established property, Seekology earns an industry standard referral commission from the seller or seller’s agent," he explains.
"For new properties, the developer or marketing agent pays for the Seekology service. By having the sellers pay for the buyer’s agent service instead of the buyer, property investors can for the first time enjoy complimentary services of an experienced and independent buyer’s agent."
"Investors also benefit by having a team of unbiased property experts working solely for them, sourcing and negotiating the purchase of a property, as well as bidding at auction.
"Furthermore, a range of additional services include property education and management, finance, structure and tax planning, even resale of property.
The only cost to the buyer is a temporary $1,000 engagement fee, which is fully refunded once the property has been purchased.
Godden adds extensive research is required to find an investment property that provides superior financial returns.
"This takes investors a lot of time and requires specific skills and experience. A professional buyer’s agent uses their experience, knowledge and contacts to provide a highly beneficial service for investors – usually at a cost that buyers have often found unaffordable.
"The Seekology model allows investors to employ the services of a team of professionals at absolutely no cost to them.”
Fluent in English, Mandarin and Cantonese, the Seekology team provides its buyer’s agent service to Australian and international investors.