BuySell Real Estate
From Wikipedia, the free encyclopedia
| BuySell International Real Estate | |
 |
|
| Type | Privately held company |
|---|---|
| Founded | Paphos, Cyprus, (2001) |
| Headquarters | Paphos, Cyprus |
| Key people | Philippos Nikiforou, Managing Director |
| Industry | Real Estate |
| Revenue | Unknown |
| Employees | 200 (2006) |
| Slogan | The LARGEST selection of properties |
| Website | www.BuySellCyprus.com |
BuySell International Real Estate (BuySell) is a real estate company with a mission to “revolutionize the way people and business deal in real estate.” Through the use of a variety of marketing and advertising tools and channels, including an internet portal, a monthly magazine, weekly newspaper multi-page supplements and a Satellite TV Channel, BuySell enables property owners, land developers and real estate agents to advertise their properties to potential buyers.
BuySell, a privately held company, was founded by Philippos Nikiforou in April 2001 and is headquartered in Paphos, Cyprus. The company employs approximately 200 employees and operates 17 offices in Cyprus and the UK. For the year 2005, BuySell accommodated approximately 3000 sales and its members generated close to 500 million Cyprus pounds (or about one billion US Dollars) in property sales. BuySell lists approximately 25000 listings on its website.
BuySell’s innovative business model enables real estate sellers and buyers to advertise and search for properties for sale through a technology platform where the unhindered flow of information in real time and the accuracy and transparency of information is the corner stone of the BuySell Concept.
According to the BuySell “One Hundred Rule,” property sellers can advertise their properties for sale for one hundredth of the cost and reach one hundred times more potential buyers. BuySell charges a flat advertising fee in exchange for marketing the property to over one million potential buyers. BuySell’s fee is payable only if the property is sold.
Contents |
[edit] History
[edit] Growth
BuySell began as a real estate advertising service in April 2001 by Philippos Nikiforou, a school teacher, then, at the age of 25. The full name of the company was BuySell Cyprus Real Estate which accurately described the services of the newly formed company. In 2005, the name was changed to BuySell International Real Estate to reflect the company’s international expansion, although the company is more often referred to as simply BuySell.
Out of its first office in Pegeia, a touristy coastal resort in Paphos, Cyprus, BuySell started out as an advertising service addressed to local land developers. BuySell gathered local listings and published them on its website, BuySellCyprus.com, its main advertising channel at the time. The concept was to provide visitors with as much information and as accurately as possible in real time.
In May 2002, BuySell issued the BuySell Magazine, its very first monthly property listing magazine, an A5-sized, 104-page, color magazine with an amateurish design and approximately 500 listings .Nevertheless, all 2000 copies of the May issue were sold out as this was the first and only property publication in Cyprus.
As Cyprus popularity as a tourist and retirement destination grew, so did BuySell’s success and domination in the market. The company’s commitment to transparency and dedication to provide instant access to accurate real estate information set it apart from every other real estate company in Cyprus. The company was the first in Cyprus to publish the prices of every listing in its database.
By the end of 2002, BuySell had taken its local business plan to two more coastal districts, Limassol and Famagusta where it established new offices. In the following two years, BuySell opened offices in the remaining districts of Cyprus, in Larnaca and the capital of Cyprus, Nicosia.
In February 2004, BuySell published its first property supplement. It was a 20 page, black and white, tabloid sized publication that featured the most recent listings. The property supplement was inserted on a weekly basis in, Cyprus Mail, a popular English newspaper in Cyprus. By the end of 2005, the company had 6 weekly property supplements inserted in Greek, English and Russian newspapers and in March 2005, BuySell issued its first property supplement in the UK. The 16 page supplement was inserted on a monthly basis in Daily Mail, one of the largest newspapers in the UK.
In 2005, BuySell’s headquarters moved to a new building. The new 15,000 square feet building houses the management and administrative staff along with the Marketing and IT Departments. In order to better service customers and associates, in February 2005, BuySell established a 50-seat, state of the art call center which is also housed in the comapny's headquarters. The call center soon evolved into more than just a customer service and call centralization center. It became an important marketing tool as more than 5000 outbound calls are made for telemarketing campaigns.
[edit] 2006 and beyond
In March 2006, BuySell invested 800 thousand Cyprus pounds (just under two million US dollars) in the establishment of Cyprus Direct TV, a new travel and real estate telemarketing TV channel on Sky Satellite, a major satellite TV provider in Europe, primarily targeting the British market. Cyprus Direct TV is the first, dedicated direct travel and real estate channel allowed to advertise properties for sale directly to consumers within the UK. BuySell owns the exclusive rights to all 12 hours of real estate broadcasting available on the channel. Cyprus Direct TV features a mix of introductory lifestyle documentaries and properties for sale.
In April 2006, BuySell expanded its presence on the international stage with the opening of offices in London, UK. Primarily a daily exhibition and information centre for prospective buyers, the London facility covers more than 2,000 sq feet and is a fully operational office with staff that can assist with property inquiries, book inspection trips and provide extensive details on property investment in Cyprus. The new offices will also serve as a training center for BuySell associates.
In June 2006, the company established the BuySell Associates Program. The BuySell Associates Program is a community of Individuals and Businesses (Travel Agents, Estate Agents, Hotels, Websites, Supermarkets, Newsagents and Shopping Malls) that promote BuySell and earn commission while doing so. Through the vast network of Associates in Cyprus, the UK and elsewhere, BuySell receives hundreds of qualified property enquiries each day.
Through innovation and excellence, BuySell has transformed the traditional cumbersome real estate advertising environment into a fast track and effective, real time communication platform using advanced technological tools that offer personalized solutions. The company will continue to offer services and tools far beyond online search and multi-channel advertising, leading the industry into the future.
[edit] International expansion
Plans are in the make to expand operations internationally. A modified version of the company’s successful business plan in Cyprus will be tested in European, Middle Eastern and Mediterranean countries such as the UK, Greece, Spain, Bulgaria, Russia and Dubai.
[edit] Marketing Tools
- BuySellCyprus.com
A full-service real estate listing and information portal. Property listings with photographs, descriptions, features, floor plans, site plans, virtual tours and more. More than 50,000 unique visitors every month.
- BuySell Magazine
The BuySell Magazine is a full listing publication with more than 12000 properties for sale on display. More than 30000 copies are distributed every month through News Stands, the BuySell offices, supermarkets and kiosks.
- Newspaper Inserts
Property supplements distributed with the most popular Greek and English newspapers in Cyprus and the UK every week.
- TV & Radio Campaigns
Regular TV campaigns on major TV and radio stations, featuring Cyprus properties.
- Satellite TV
12 hours of daily broadcasting on Cyprus Direct TV, a new travel and real estate telemarketing channel on Sky Digital.
- Email and SMS Alerts
Each new property listing is automatically sent via email and SMS alerts to all prospective buyers and tenants whose requirements match the property specifications.
- Associates Program
The BuySell Associates Program is a network of Associates in Cyprus, the UK and elsewhere referring hundreds of qualified enquiries daily.
- Contact Centre
A state of the art 50-seat contact center that uses the latest telecommunications technology to carry out marketing campaigns around the clock to thousands of prospective buyers and tenants.
- For Sale Signs
For Sale signs on properties listed for sale provide additional exposure and create more enquiries.
[edit] Other Services
[edit] Financial Services
Encompassing the idea of a one-stop property shop, BuySell, in March 2004, set up a financial services company, ZAP Financial. ZAP Financial, offers financial advice and solutions on mortgages, currency exchange and insurance enquiries.
[edit] Market Research
Between 2002 and 2004, BuySell gathered an immense amount of data concerning the real estate market in Cyprus. The appropriate use of this data led to the development of the BuySell Home Price Index and the BuySell Asking Price Index in June 2004. The two BuySell Indices constitute the most valid gauge of the Cyprus real estate market and a valuable tool for buyers, sellers and investors. They are the only real estate indices available in Cyprus.
[edit] See also
- BuySell Magazine – BuySell's monthly property publication
- Cyprus Direct TV – Real estate and Travel Satellite TV channel
- ZAP Financial – A financial services company
- BuySell Home Price Index – BuySell Home Price Index
[edit] Further reading
- Stelios Platis and Marios Nerouppos (2004-06-15). Asking Price and Transaction-Based Indices for the Cyprus Housing Market. BuySell Real Estate. ISBN 9963-9266-0-6.
