"This record performance was entirely driven by the organic growth of the business and revenue growth far outstripped the total visits growth resulting in a stronger yield per visit," stated Gonzalo del Pozo, CEO and Managing Director of Mitula Group.
He says in the report which covers the financial year to the end of this April: “We are extremely privileged to have secured some of the best people in our industry who have a strong desire to be part of a business that is changing the way people think about estate agents and estate agency.
“We’re at an inflection point right now,” Eckardt said. “The consumer is becoming empowered and the real estate brokers are viewed as their trusted advisor, not so much the gatekeeper of information, as they were when I first got into this business.”
Purplebricks has also fired up its competitors with the country's biggest real estate agency Ray White likening the Purplebricks offering to an expensive lead generator that makes its money by paying its agents "very little".
Called the "NSW Raffle" agents had to secure a minimum 5 percent reduction on three properties to go into the raffle which offered a $5000 prize "generously supported by [Purplebricks co-founder] Kenny Bruce".
“The biggest frictions we hear of are things to do around maintenance, collecting rent and dealing with tenants, so all of the communication etc. Lodge does these three things now and aims to do more soon,” the CEO said.
This purchase won’t be the company’s only foray into U.S. multifamily. CapitaLand said that it sees serious opportunity in the U.S. multifamily market and plans to grow its portfolio beyond this initial purchase.