General insurance broker network and underwriting group Steadfast has joined forces with fintech innovator ListSure to deliver finance and insurance solutions to the real estate sector.
As part of the joint venture, Steadfast and ListSure will provide real estate agencies with access to insurance products and bespoke risk mitigation tools that will underpin the sector to support its ongoing success.
ListSure co-founder and managing director Brad Melman said the joint venture allows the real estate industry specialist to roll out its unique offering, Pay on Success, and roll out some new initiatives to better serve the real estate industry.
ListSure's Pay on Success provides finance and insurance for the marketing expenses to prepare Australian residential properties for sale. Specifically, the offering allows property sellers to only pay their agreed marketing expenses when they successfully sell their property. If they do not sell, they do not need to pay these expenses.
Steadfast managing director and chief executive officer Robert Kelly said the joint venture with ListSure aligns with the group's commitment to providing market-leading products to meet the insurance needs of its broker members' clients.
“We recognise that the real estate sector is underserved when it comes to risk management, and the joint venture provides the opportunity to design and deliver products that meet the needs of this dynamic sector,” Kelly said.
Melman added: “The real estate sector manages a wide variety of financial transactions but has access to a limited range of insurance products to mitigate risk.”
