Property Connect secure exclusive agreement in Gulf countries for online property platform

Australian group Property Connect has agreed a deal to be the exclusive agency to license and market the a sales auction and rental platform in the Gulf Corporation Countries (GCC).

The agreement with Pipeline Marketing Management LCC (Pipeline) will cover countries including Bahrain, Kuwait, Qatar, UAE, Oman and Saudi Arabia.

Pipeline will provide a range of services to assist the company to launch its LiveOffer platforms in the GCC.

The technology allows potential tenants to make an online offer on a rental property, with the company claiming that this helps reflect fair market value for properties.

As the company’s exclusive agent in the GCC, Pipeline will aid in property developer and purchaser relations and business development activities.

Pipeline will earn commission based on annual sales volumes on the LiveOffer sales auction platform in the GCC ranging from 10% - 15% of the licence fees received by the company for annual sales of $5 million to $15 million plus.

Property Connect has agreed to complete all customisations to its LiveOffer sales auction platform necessary for the GCC within 30 days.

The company has been working with Damac Properties to introduce its property listings to the platform.

Darren Patterson, CEO of Property Connect, said the company is now well positioned to generate revenue.

"We are very pleased to have finalised this agreement with Pipeline and move forward on the expansion of the LiveOffer sales auction and rental platforms into the GCC," he said.

"The company is now well positioned to generate revenue in a highly scalable manner from our industry leading platforms, providing a return to shareholders from our technology investment made to date."