Int'l Properties to launch real estate on-line
International Properties Group Ltd IPX
Shares issued 33,352,562 Aug 31 close $0.95
Tue 31 Aug 99 News Release
Mr. David Steele reports
International Properties Group Ltd. has launched a major technology
initiative to enter today's $4.5-billion e-commerce market. IPG plans to
accomplish this with the introduction of on-line proprietary Internet
products and services that management believes will dramatically change the
way North Americans invest in real estate.
Already a dominant player in the real estate investment market, IPG will
take its proven and established real estate investment operations on-line.
Currently, IPG has an unparalleled track record in the industry; its
projected total revenues for fiscal 1999 have climbed to $115-million, a
55-per-cent increase over 1998.
IPG's state-of-the-art e-commerce initiative will target middle-to-upper
income North American investors, allowing them to assess the benefits of
real estate investments, examine IPG's investment portfolios, and pinpoint
properties with the greatest upside potential. Investors will be able to
browse through a user-friendly interactive menu that includes:
an educational tour of the benefits and risks involved in real estate
investing and extensive interactive tutorials;
detailed location maps of areas where IPG's properties are situated,
outlining their investment appeal and demonstrating their proximity to such
key services as schools, parks, shopping centres and churches;
a virtual wrap-around room-by-room tour and description of the suites,
showing views from the windows and balconies as well as walk-throughs of
common areas, including swimming pools, recreational facilities, parking
lots, and lobbies;
a due diligence package with third-party appraisals and engineering reports
documenting the quality of the properties;
costs and pricing on a sample IPG property with comparisons to similar
types of real estate investment; and
on-line purchase documents, credit applications, and secure mortgage
processing.
The site will also feature an interactive database of mortgage term and
rate options. In the comfort of their own homes, investors can review the
options best suited to their individual needs, alone or with their
advisors. To ensure that all questions are answered in a timely fashion,
real estate coaches can be contacted immediately, with dedicated e-mail and
1-800 help lines available. With the click of a mouse, investors will be
able to view, reserve, and eventually purchase a property on-line.
In the last few years, there has been a massive shift within the financial
community to online services. A recent report from Forrester Research Inc.
of Cambridge, Mass., predicted that by the year 2003, some $3-trillion
(U.S.) will be managed in on-line stock brokerage accounts. Forrester also
estimates that mortgages that originate on-line will capture nearly 10 per
cent of the $1.3-trillion mortgage market by the same date. Over the next
five years, it is predicted that more than 85 per cent of e-commerce
business will be sophisticated transactions for such commodities as
mortgages, stocks, mutual funds, and real estate investments.
"While the Canadian market is educated and receptive to IPG's real estate
investment model, we view the U.S. as virtually untapped," Phillip Carroll
said. "We've undertaken extensive research and we are convinced that the
market is prime for real estate investing as an alternative to the stock
market."
According to U.S. Census Bureau estimates, individual investors in the
United States alone own more than 50 per cent of the more than 20 million
multifamily units representing $1-trillion of real estate. IPG's investors
have acquired over half a billion dollars worth of real estate with its
proven model. "Given the size of the market and our past success in real
estate investment, there is good reason to expect exponential growth for
our program," said Mr. Carroll.
"IPG has developed a model that will make real estate an investment product
that is as accessible as buying a mutual fund," explains David Steele,
president of IPG. "Our proven system has allowed thousands of individuals
to add well-selected real estate to their investment portfolios. The
scalability of our process will enable us to make opportunities available
to new investors across North America."
"We are excited about the potential to change the way North Americans
invest in real estate with our new e-commerce platform," said Mr. Carroll.
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