In the dynamic landscape of real estate, innovative solutions are essential to overcome the evolving challenges faced by property developers and buyers alike. Tom Ogilvie, Head of Sales at Coposit, is one individual at the forefront of this change. As a key figure in Coposit, Tom is instrumental in realising Coposit's mission to make property ownership accessible to a broader demographic, thereby transforming the way we approach real estate.
"We believe we can close the gap between property and ownership for everyone."
Tom Ogilvie, Head of Sales
In this blog post, we gain insight from Tom into the innovative solutions that Coposit offers and the real-life success stories that attest to its effectiveness.Tom Ogilvie, Head of Sales at Coposit
At the core of Coposit's mission is the belief that property ownership should be accessible to a broader demographic of buyers, including those who were previously unable to enter the property market. Coposit seeks to fast-track the property buying journey for all types of property buyers, while addressing the challenges declining homeownership rates in the real estate industry. As Tom states, "We address a demographic of buyers previously unable to access the property market, and fast-track the property buying journey for investors."
Overcoming Resistance to Purchasing Off the Plan
One of the significant challenges faced by property developers is convincing potential buyers to consider purchasing properties off the plan. Many prospective buyers are hesitant due to the uncertainty associated with buying a property that is not yet constructed. Coposit aims to empower these buyers by providing them with the confidence and resources they need to explore off-the-plan purchases.
Funding Constraints for Prospective Buyers
Another obstacle in reaching a broader customer base is the financial constraints faced by potential buyers. Coposit recognises that not everyone has the full deposit amount readily available or their funds tied up in other ventures. To address this issue, Coposit offers a solution that breaks down the full deposit into manageable weekly payments, without charging interest or fees. Buyers can now secure their dream properties sooner than they might've previously thought possible, as Tom points out, "Buyers now only need a minimum of $10,000 to secure their property."
Stimulating Supply and Mitigating Risk
Supply shortages in the real estate market present a significant challenge for developers. Coposit understands the importance of stimulating supply while minimising risks for all parties involved. Through its innovative approach, Coposit helps create a win-win situation for both developers and buyers by mitigating settlement risks and ensuring a consistent flow of projects.
"Our rapid success in the industry speaks to the clear need for Coposit and the shared determination and passion within our team. Take, for instance, our latest project with Frasers Property Australia – a 3,300-unit masterplan in Macquarie Park. This partnership exemplifies our commitment to providing fantastic benefits to their customers." Tom Ogilvie, Head of Sales
Coposit's commitment to providing innovative solutions is evident in its approach to making property ownership accessible to a previously excluded customer segment.
Affordable Deposits and Diverse Projects
Coposit revolutionises the traditional property buying process by offering affordable deposits. With a minimum requirement of just $10,000, buyers can secure their chosen properties. Moreover, Coposit's platform provides a wide range of projects, including apartments, land subdivisions, and house and land packages across Australia, catering to diverse preferences.
Breaking Down Barriers to Entry
Coposit's solution removes the financial barriers that have traditionally kept many potential buyers out of the market. By breaking down the full deposit into manageable weekly payments, Coposit empowers individuals to take their first steps towards property ownership without the burden of excessive upfront costs. There have been buyers as young as 19-years-old purchase their first property using the Coposit model.
Real-Life Success: The George in Seven Hills
To illustrate the real-world impact of Coposit's innovative approach, consider the case of The George in Seven Hills. In this pilot project, 66 purchasers successfully secured and settled on their properties using Coposit. What's remarkable is that 15 of these buyers would not have been able to make their purchase without Coposit's assistance. The remaining 51 buyers had the full deposit at their disposal but chose to buy with Coposit. This case highlights Coposit's ability to supercharge a developer's sales while minimising settlement risk, thus benefiting both developers and buyers.The team behind Coposit
Coposit's journey in the real estate industry to date has seen considerable success and growth. By aligning its goals with those of property developers and project marketers, Coposit has consistently delivered strong sales results. The key to this success lies in achieving the required debt cover, kickstarting construction, and addressing the pressing supply issues in the market. As Tom proudly asserts, "We are now working with or in the process of onboarding some of the industry's biggest brands, delivering strong and consistent sales results for both property developers and project marketers."
In a rapidly changing real estate landscape, Coposit presents a new way to property. By addressing the challenges faced by both developers and buyers, Coposit has successfully bridged the gap between property and ownership for a diverse range of individuals. Its real-life success stories, like The George in Seven Hills, serve as testament to the positive impact it has had in the industry. Coposit's mission to make property ownership accessible to all is reshaping the real estate industry, one innovative solution at a time.
If you're a property developer looking to accelerate sales and tap in to a new pool of potential buyers, drop us a message and we'll get back to you. While you're at it, follow us on LinkedIn to learn about new partnership and project announcements.