Technology & Innovation |

CRIBZ sees growth potential in softening property market

Sydney based real-estate startup CRIBZ says user growth is rising on its Facebook Messenger app, citing growing interest among both buyers and sellers, as property markets soften along the east coast of Australia.

CRIBZ recently launched a new feature to help homeowners find the best-performing agents in their area. The launch comes after Sydney property prices continued to fall in March, albeit at modest levels. According to Corelogic, Sydney home prices are down just over 2% for the year.

CRIBZ CEO Peter Esho says the agent selection tool is now more important than ever. “You only find out who is swimming naked when the tide goes out. That’s a famous Warren Buffett quote, often used in the stock market. But also important when it comes to real estate”

“Many agents aren’t capable of achieving premium results, particularly in a tough market. But the best are and they shine in markets like this. So we’ve built one of the most sophisticated databases, to pick the winners from losers. Selling your home is one of life’s biggest and most stressful decisions. We can help make it easier by introducing you to a result proven agent”

The agent finder service also includes an online Masterclass — with hours of content for prospective property owners to consider before appointing an agent.

Esho previously spent more than six years with NASDAQ listed Morningstar Inc, valuing companies across different markets. He says other CRIBZ features under development include the ability for homeowners to value their property directly in a Facebook Messenger conversation. “I’m really excited about that. Imagine getting an instant valuation within a simple chat”

According to Esho, CRIBZ is gaining a steady following among millennials. User engagement within the Facebook Messenger assistant is averaging 150% monthly growth. He says recent Facebook privacy issues are serious, though Messenger is still a dominant, separate chat platform.

CRIBZ also provides neighborhood guides, buying services and tools to help renters find locations within their budget and lifestyle preferences. Find out more by chatting with CRIBZ on Messenger.