Ann: IBN launches new marketplace and appoints senior executive-DVI.AX, page-9

Hi Tony,

IBN has been profitable for the last 4 years.Last year FY15 they sold 106 properties for a profit of close to $1 million.So far this year 9 months they have sold 126 properties.They are a quasi internet real estate agent.They employ real estate agents as consultants to sell the best suited property for the buyer.The model can be used in any country.All they need to do is to set up an office in the area targeted where the salesman operates and start to obtain properties and advertise on the site..For example they plan to trade in WA and SA by the end of the year so would just set up an office in say Perth and Adelaide.If you look at the site they have quickly set up a number of house and land packages in the last few weeks.The new property market per annum is 150.000 dwellings.