Words: Ashley Rigg
Published: 13th November 2008
Globrix: coming to a country near you
UK free-to-list property portal, Globrix.com is preparing an assault on the domestic property markets of Continental Europe, USA and Central and South America.
Using a licencing model, the portal is already in the advanced stages of development in several countries and is in discussions with potential partners in many others. Using the Globrix technology, the first free-to-list portals will launch in early 2009. Founder Daniel Lee is reticent to name the countries he expects to launch in first, so as not to put unnecessary pressure on his partners, but he says the USA is “3rd of 4th on the list” with countries “closer to home” coming on stream first.
Due to the size of the markets, Spain, France and Italy are likely to be on high on the list of priorities. The globrix
technology works in multiple languages and offers translation facilities for their partners and agents.
Lower prices for agents
Agents in countries with less developed portal markets than the US and UK stand to benefit most as this move significantly reduces barriers for new entrants. A new portal will be able to use the technology to quickly develop a critical mass of property to compete against incumbents. In the medium term the result should be more choice and lower prices for real estate agents.
Ambitious global plans
Having spent over £1 million developing their unique technology, Lee is keen to monetize it in new markets and expects international revenues to far exceed those in the UK within a few years. “It’s a low risk, high reward business model” says Lee. With the right partners on board it could also be model that transforms the dynamics of some significant property portal markets across the world.
User Comments
We await this great move by globrix, come on the spanish version!!
Antrhony Duggan,
LivemedCoast Sl