Off-market property site Nokk launched in Australia
01 Nov 2018
Nokk facilitates what’s known in the industry as an “off-market sale,” by enabling property owners to create a property profile through which they can solicit non-binding offers from prospective buyers.
It’s similar to Soho, a startup founded by AirTasker co-founder Jonathan Lui, that similarly connects buyers with sellers of unlisted properties. Unlike Nokk, Soho also accepts listings from agents and helps homeowners and property investors manage their property documents.
“In a downturn market, owners want a light touch solution so they can dip their toe in the market to see what a buyer is interested in spending on their property, without committing to a hard sale,” he said.
Voltz and his co-founder — former commodities banker William Evans (LinkedIn profile) — have already signed up 7,000 users and have almost 3,000 properties listed on the site.
By contrast, Soho — which also operates in Singapore — has 65,000 property listings. More than 3,000 agents have also signed up to Soho, making up more than 90 percent of the listings on the site, according to the Financial Review.
Even so, Voltz says that Nokk’s focus on off-market sales only gives it the competitive advantage.
“Our properties are unique to Nokk and solve this problem of how a buyer can access stock without a signboard being out front. We’re focused on delivering that result, rather than building tools for owners to understand their property.”