Since the outbreak of the COVID-19 global pandemic, we have published several horror stories here at Online Marketplaces. Today, however something positive in the online classifieds industry came up as we trawled through the news.
It comes from the Irish digital property platform BidX1. Whilst traditional portals and agencies toil against the economic tide with many confessing in our industry poll* to heavily revised budgets and cutbacks, Stephen McCarthy’s outfit seems to have bucked the trend. Yesterday they announced that they have secured a new tranche of properties for auction with a value of close to £30 million.
The Dublin based company’s platform allows users to sign up to buy and sell property through their phone from wherever they are in the world. Stephens attributes success in these dark times to several factors such as software that is “proprietary, developed and managed in-house,” which lends the company a degree of flexibility other don’t have.
The business is present across 4 countries already and it will be interesting to follow the evolution of this model, especially as end-user behaviour and expectations will undoubtedly change in the near future.
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