Report sharing for property inspections taking off in Australia

There is new competition in the Australian property market among platforms who provide building inspection reports for potential property buyers, thus helping people share the costs of reports. Michael Ferrier, Founder of Eyeon, a web-based report-sharing service, wants the government to support this sharing system to help give consumers more confidence in the system. This trends is seeing more and more firms and estate agents offering their own reports at a discount price. Ferrier believes that once the credibility of report-sharing is accepted, report-sharing has the potential to rise like Uber and Airbnb to become the norm.  

Under Eyeon’s system, the vendor pays a discounted fee to have all necessary reports done, which are then put on the company’s website for potential buyers to buy at a rate about 20 per cent of the normal cost – $99 for house building and pest reports, and $69 for strata reports. Alternatively, all buyers pay the full price for the same report where the vendor hasn’t contributed to the cost, but then the ones who don’t succeed in buying receive a rebate.