Cyprus: BidX1 to open proprietary platform to wider real estate industry for the first time
BidX1, the digital marketplace for real estate, has today announced that it will make its platform available to other real estate vendors, allowing them to complete sales online.
In a note to vendors, Head of Property at BidX1 Cyprus, Kritonas Onisiforou, said that the decision was a significant one for the company, aimed at increasing collaboration in an industry that is facing unprecedented challenges.
“This is a very challenging time for all of us. In our own industry, vendors across Cyprus are fighting to keep operations running as smoothly as possible, to support their staff and to serve clients, for whom our advisory role is now more important than ever.
“We have found ourselves trying to maintain ‘business as usual’, in the face of conditions that are the very opposite of this but as we have seen at a national level, it is collaboration and community that will be crucial.
“In this spirit, BidX1 have taken a decision to make our platform available to other vendors for the first time - we are inviting them to partner with us, combining their own expertise with the reach, transparency and flexibility of our online sales.”
BidX1 has seen steady sales of Cypriot properties, despite the national lock-down, as the digital model facilitates fully online transactions – from virtual viewings to exchange of contracts.
Recent sales include a residential plot in Limassol and a three bedroom apartment in Nicosia, while bidding will open today on an attractive seven bedroom house in Moniatis, Limassol. A virtual walk-through of the property is available on the BidX1 platform, and bidding will open at €225,000.
BidX1 sales attract a global audience as potential purchasers can make an offer online from any device, anywhere in the world, securely and transparently. This week, a British/Cypriot buyer was able to take a virtual tour of two properties in Nicosia from London, view the relevant legal documents on the platform, and then purchase the properties through BidX1’s online system.
“It is heartening to see people using technology to connect and collaborate, from social engagement to remote working. This challenge may also be the catalyst for permanent change in our own industry, leading to greater adoption of technology across the sales cycle, from marketing to digital contract signing.”
BidX1 are market-leaders in the digitalisation of property transactions, having sold over 9,000 properties across five markets. Such a collaboration would allow agents across Cyprus to partner with BidX1 to transact sales online using their bespoke platform.
Property professionals who would be interested in discussing a potential collaboration can get in touch with Mr. Onisiforou: firstname.lastname@example.org / +357 22 000 380.
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