Regional News

A new Brazilian real estate firm is calling itself the “Uber of real estate”

By Editor 0 Comments NEWS, Regional News

A new startup for real estate in Rio de Janeiro is giving brokers a hard time.

Quinto Andar, founded in 2012 by two Stanford MBAs, is a ready-made brokerage, property manager and insurer offering would-be tenants and buyers an easy way to save money and find a new home — and, the best part for many? They get to avoid Rio’s current brokers as Bloomberg reports.

Quinto Andar was born out of a pervasive frustration with Brazilian brokers where bad quality photos on listings are just the tip of the iceberg. Brokers often avoid questions about properties, forcing interested parties to schedule a viewing if they want answers — often only to find the property is nothing like the listing — and that’s not counting the “hidden costs” and bureaucratic hassle before, and after, you ink a deal. (And you thought New York was bad?)

“This is a real pain for people, and it’s a 200 billion-real ($60 billion) market,” Gabriel Braga, one of the founders, told Bloomberg. “If we can fix this problem the consequences could be huge.”

Read more here

Join us in Miami from the 20th to the 22nd of June for the Global Online Marketplaces Summit. Our summit theme is INNOVATION and we’ll hear from Global Leaders who are creating the Online Marketplaces of Tomorrow.

Leave a comment

Your email address will not be published.