Ground Breaking Online Real Estate Company Goes Live

Is The Traditional Real Estate Sales Person Dead And Buried? Ground Breaking Online Real Estate Company Goes Live

Wellington: 6 July 2011 :

Providing feel-good winter warmth to frustrated home sellers, New Zealand Real Estate / Technology company 200 Square takes residential property sales online across New Zealand, saving sellers thousands of dollars by doing away with the traditional real estate sales person and unnecessary commission charges.

The system is the result of a team bringing together real estate, technology management, design, engineering, and legal skills. 200 Square is a uniquely New Zealand company, conceived, developed and managed specifically for the New Zealand real estate market, “As we were building the system we analysed the processes around residential property sales and found that we did not need the traditional, commission based, real estate sales person, says 200 Square’s Grant Wakelin.

200 square is a fully licensed real estate agency, but it costs nothing to list a property for sale with the company and a flat success fee of just $1,299.00 incl GST is charged when the property is sold. All listings are advertised on the major real estate websites at no charge to the seller. The property owner can also choose from a range of other premium marketing options should they want to.

“We have combined the best of technology and automated the business processes, including listing, marketing, negotiation, and preparation of contracts. Home owners still want advice and support, so we have build extensive help and guidance online. They can also contact experienced real estate professionals directly via an online Q&A, email, or telephone should they need to” says Wakelin.

“We’ve invested a lot of time into building an efficient back office system” says Tech Lead James Nisbet. “ We use the latest in web technology in order to make us dramatically more efficient. We call it ‘Bionic Agent’ and it automates many of the traditional sales and back office processes removing the need for administrators and reducing overheads”. The home owner is in the heart of the sales process. Communication simply flows back and forth between seller, agent, and potential buyers and is recorded via a Q&A section so transparency is ensured for all parties.

The 200 square system uses online technology and offline services to focus intently on the needs of the residential property seller. By entering the address in the search box and following directions the seller is led through the registration and listing process - all online.

The user’s online account becomes their control panel for the entire sales process, from listing, through marketing, negotiation, and contract. Buyers access the site directly at, www.200square.co.nz, or are channelled through 200’s online suppliers including Trade Me and realestate.co.nz and offline through newspapers, flyers, and signs.

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