360° Verification & Legal support
Problem:
We are all familiar with on market property transactions. But when it comes to buying and selling specialized high valued objects like factories, hotels hospitals offmarket is the way to go. Which basically means a transaction between organizations or HNIs through their dealers. The dealers communicate among their network mostly in an off line fashion.
If you sell on market you are broadcasting your property and related data to the whole world.
This means that you are transferring the data to anyone and everyone who can see information which is sensitive. Which makes it hard to retract on the price once the data is published. It's really hard to retract the price for example even if you find out that the price quoted was either too high or too low. Any price corrections will be valued negatively.
you cannot control the flow of this data because you never know who is receiving it. if you are on the other side of the spectrum which is the buyer side. you will have a different type of problem. The issue here is you never know the data, description, expose you are seeing if they're all correct and verified. This mechanism still works for on market transactions because the type of properties and the documents needed to sell those properties are in most cases fairly standardized.
however, when it comes to off market transactions this process does not work anymore. This is mostly for the following four reasons
- off market transactions are normally high-volume transactions which entails that there are various different types of documents involved into such a transaction
- The properties are fairly disproportional when it comes to their size, type and price
- In many cases there are specialized objects, which requires deep due diligence activity to make sure the properties have all the necessary clearances for the transaction
- High volume transactions are never done between two parties its almost always between more complex groups of people or companies or departments of those companies
Now this can be a real big problem if you are selling off market or complex properties which are malls, hospitals, portfolios, where it’s very important that you have control over your data and that all the necessary data and documents are available, and they are all proper.
The solution is to know your partner. Identify you partner to be sure that your partner is really interested, and he is also able to buy. And only after legally verifying your partner you should start showing your data.
In this case, you are not broadcasting anymore, you are just sharing peer to peer, so you have control over your data. And if you are an expert, before you open your books and show that you are able to purchase the property, before you let somebody else see your financial situation you also want to be sure that the offer property is for real, and it will also be published so that the data is written correctly.
How does Crossmarket help:
Crossmarket makes sure that each and every partner in our partner ecosystem is only registered after a strict background check.
also, all properties which are offered on the crossmarket platform are checked for the validity and existence of all the necessary documents. This makes it guaranteed that every player in the crossmarket platform can always be sure to negotiate with someone who has verified credentials.
What is also important is that every partner in the cross-market network is responsible for every other partner, that’s how we build the circle of trust. So, every partner in the network will sign the contract which is created by our lawyer to guarantee that he will play by the accepted set of rules and he will not do anything that could harm anybody in the network.
And so, the crossmarket solution combines the safety of anonymity with the flexibility and ease of transaction like any other on market deal.
We achieve this by making sure that you are dealing in a verified network and you will not have to stress over fake partners and you will only deal with pre qualified properties.
This gives you the freedom to concentrate more on the negotiation itself.
You will have no fear of losing control of your data and on the other side as a buyer you always have the right feeling of a network of trusted partners.
At crossmarket we call this playing in the Champions League.
