Hello everyone. My name is Patrick and I'm the founder of Bookbuild (Bookbuild), which is a new property listing platform that allows property enthusiasts to earn cash by predicting Aussie property auctions. For those that do check it out, I hope you enjoy using some of the property research features that I've been painstakingly working on Also really looking forward to chatting and interacting with everyone about real estate on this forum. What an interesting time for markets!
It appears that you're running a competition of sorts. My understanding is that this could invoke all sorts of gaming legislation and compliance. It might be wise to explore this further.
Hi Peter, that's correct - Bookbuild's purpose is to be a platform / service that facilitates competitions for real estate agents. The idea is that a real estate agent would post their auction listing and optionally a monetary incentive that would be awarded to the person who submits the closest prediction to the final auction price. Kind of like a "guess the number of jelly beans in a jar" competition but for property auctions. The idea is that people like us who like to keep a keen eye on the market can have a little bit of competitive fun predicting auction prices and real estate agents benefit from the added buzz and anticipation around their listings while also getting an insight into how much people think their property will sell for. Regarding legislation and compliance, before each user submits a prediction, they are presented with the complete terms of entry for the competition, which contains key information about the competition to ensure all participants are aware of the rules. I employed a legal service to help craft the competition terms to make sure everything was correct and above board
Cool. We ran a competition once and had to put a significant amount of effort into all that. Now we just outsource everything about it.
