Property developers worldwide need better access to property investors. investors don’t have a reliable channel to validate developers, projects, and transactions. There are also severe restrictions on buying landed property (house and lot) in most countries around the world. Property prices overseas are often higher for foreign buyers. in addition, there are often extra fees charged for broker and sales agent commissions (up to 8%) and third-party marketing channels, that can add an additional 15-20% markup.
With the current system, an investor who wants to purchase foreign real estate often relies on friends and family to connect with local brokers, who in turn work with international brokers, and then local brokers in the country where the purchase will be made. This process is time- consuming, involves too many intermediaries, and the cost to the buyer could well balloon up to 30% more than the market price of the property in that country. The core of the problem is the lack of a comprehensively available platform for validating buyers, property developers, and transactions that would provide a direct and frictionless conduit between property developers and buyers.
AQWIRE is a Global Property Marketplace that handles cross-border payments, property listing, and buyer/developer verification (KYC - know your customer process). Qwikwire (the company launching the AQwire platform) is already the leading and fastest growing cross-border payments platform for international real estate transactions in S.E. Asia.
To complement this, we are building AQwire for property developers and property buyers all over the world. By reducing the number of brokers/agents and bypassing multiple marketing/sales channels, it can offer significant discounts to property buyers (20 - 40%) and unprecedented access to these international buyers for property developers. The more developers and buyers we get to use the platform to buy and sell real estate internationally, the more Qwikwire will grow as a payments platform within AQwire.