My guest this week got the idea for his proptech after losing entire Saturdays driving around new housing estates in Melbourne, visiting multiple developers and trying to find a block of land to purchase, only to discover that nearly everything he looked at had been sold.  

Qi Chen is a software engineer and computer developer who has experience in both real estate and marketing platforms, having worked with proptechs Landchecker.com.au and Urban.com.au, but it was his own frustration with buying a house and land package that got him thinking “there has to be a better way” and going out and doing it on his own. 

And in just a few years, OpenLot is now a one-stop shop for house and land packages, helping buyers research and compare areas openly and transparently as well as choose the right area and developer to build their dream home. It currently boasts over 1500 housing estates in Victoria alone.  

02:02 - The OpenLot elevator pitch

05:22 - How big is OpenLot and what are the successes it’s having?

08:35 - The types of OpenLot clients

11:25 - The size of the market in Australia

19:02 - Qi’s background

19:02 - Qi’s background

24:39 - The competitive landscape

26:56 - Who should be using OpenLot?

30:56 - Biggest challenges as a Proptech entrepreneur

34:19 - What does the next 5 years hold?