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Online Bidding Platform for Property Market

A comprehensive online bidding platform that brings together real estate agents and buyers, enabling them to participate in property auctions remotely and significantly expanding the market's reach.

Client

An Australia-based startup that offers a digital platform for real-estate trading.

Problem Statement

The traditional, in-person property auction model focused solely on the buyers in the local market. The client's challenge was to break this geographical barrier and implement a secure, digital solution capable of handling complex transactions, like real-time bidding and contract execution, on a global scale.

Industry

Real Estate

Solution

Digital Experience

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Quick Summary

QBurst partnered with the Australian startup to build a robust web and mobile platform for online property auctions, transforming the traditional bidding process and delivering a new digital experience.

  • Enhanced Participation: The platform enabled remote bidding, saving buyer’s travel time and costs with a 28% increase in auction day turnout.
  • Real-Time Experience: A real-time bidding portal with ultra-low latency video and audio streaming ensured a seamless and engaging auction experience.
  • Full-Cycle Digital Solution: The solution streamlined the entire process, from property listing and bidding to contract signing and payment, all within a single platform.
     

Client

Our client is a startup business venture that caters to the real estate market in Australia. They offer a digital real estate marketing platform for the competitive world of real-estate trading.
 

Limitations of the Traditional Auction Model

  • Geographical Constraints: Physical auctions restricted the pool of potential bidders to those who could attend in person, limiting buyer reach.
  • High Costs and Inconvenience: Buyers had to travel to multiple locations to view properties and attend auctions, incurring significant time and travel costs.
  • Inefficient Process: The end-to-end auction process, from bidding to contract signing, was manual and time-consuming, creating friction for all parties involved.
  • Lack of Transparency: Bidding information and history were not easily accessible to a wider audience.
     

QBurst Solution

QBurst developed a comprehensive, multi-module digital platform to address the client's needs. The Angular-based solution includes web and mobile applications for various user roles, all designed to facilitate a smooth, real-time online auction experience.

The key modules of the platform:

  • Master Admin and Agency Web Apps: These provide a centralized hub for managing properties, agents, and auctions. Admins can manage users, view reports, and handle invoices, while agencies can upload property profiles and access auction analytics.
  • Customer Mobile and Web Apps: These applications allow buyers to view properties, register as bidders, place real-time bids, and receive instant updates via a live "bid ladder."
  • Auction Input Platform (AIP): A dedicated tool for auctioneers to record bids, accept or reject online bids, and initiate the post-auction contract signing process.
  • Auction Streaming Platform: This module ensures an ultra-low latency video and audio stream from the physical auction floor, providing a live and immersive experience for online participants.

Technical Highlights

  • Real-Time Data Sync: Used PubNub integration to ensure real-time reflection of bids across all user platforms.
  • Ultra-Low Latency Streaming: Leveraged TokBox for a high-quality video and audio stream, making the remote experience feel like being on the auction floor.
  • Integrated Workflows: Seamlessly integrated with DocuSign for a secure and efficient post-auction contract signing process.
  • Robust Tech Stack: The solution was built using Angular 4, Material Design Lite, and native mobile technologies (Android Studio, Xcode), with a backend powered by PostgreSQL, Redis, and RabbitMQ to handle high traffic and transactions.

Impact: A Comprehensive, Multi-module Digital Platform

  •  Increased Market Reach: The solution enabled a global buyer reach, resulting in a 28% increase in auction day turnout and more competitive bidding.
  • Enhanced Agent Performance: Agents experienced a 25% increase in listings, benefiting from the platform that advertised their skills and delivered better sales results.
  • Reduced Time-On-Market: The platform's efficiency and wider reach helped reduce the average time properties spent on the market.
  • Improved Customer Satisfaction: Buyers gained instant access to properties that met their specific criteria, price, and location needs, leading to a more satisfying experience.
     

Client

Challenges

QBurst Solution

Technical Highlights

Impact

Recognized for Growth. Trusted for Impact.

Deloitte Technology Fast 50 India, Winner 2024

Deloitte Fast 50 India, Winner 2024

Dun & Bradstreet

Leading Mid-Corporates of India, 2024

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Major Contender, QE Specialist Services


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QBurst acknowledges the Traditional Owners of Country throughout Australia and their continuing connection to land, waters, and community. We pay our respects to the people, the cultures, and the Elders past and present.

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