Does the idea of buying property online with zero human interaction seem far-fetched? One company is making it happen.

A new ‘Online Reservation System’ by property marketplace iBuyNew.com.au is seeking to revolutionise the property market by encouraging transparency and reducing the need for human interaction in new and off-the-plan property transactions.

“This is a revolutionary development in real estate. To be honest, we can’t even find anyone globally who has deployed this technology before like the way we have,” founder and CEO of iBuyNew.com.au Mark Mendel said.

“We are always looking for ways to make the process of purchasing new property easier for prospective buyers. This system means buyers no longer have to wait for a real estate office to be open in order to put down a deposit on a new property.

“It allows a buyer to reserve their desired property in a matter of minutes at any time of day from anywhere in the world. Even a foreign investor in China can simply log on to the reservations system on our website and secure a property in Australia.”

The technology, developed by IBN, allows buyers to browse, view full price lists, floor plans and related property documents. They can then reserve their chosen property though a three-step process by supplying purchaser, solicitor and deposit payment details.

The company believes this new tech will not only make it easier to purchase new property, but will also improve transparency.

“iBuyNew is committed to using technology to reshape the new property buying experience, making it fairer, more efficient and more transparent. Our plan is to become the number one destination for new property buyers in Australia,” Mr Mendel said.

IBN has already sold over $500 million worth of property – including apartments, townhouses, and house and land packages – in more than 190 developments in Sydney, Melbourne and Brisbane.