Real estate industry needs agents to rise to the occasion: Listing Loop
The global pandemic has dramatically changed the way real estate agents do business but the role they play in helping buyers to find the right property and representing sellers in navigating the sale of their home for the best possible price has never been more important.
For varying circumstances, there are still buyers in the market that need to buy and sellers that need to sell. These people are looking to real estate agents for their expertise, local knowledge and importantly, to help them in a time which commands working together towards a common goal.
Agents have been forced to be more agile, get creative, leverage technology and go the extra mile in building client relationships. Former marketing strategies no longer work and determining how and where they spend their clients’ money to advertise their properties is reshaping how agents do business.
Proptechs like ListingLoop.com.au have become a lifeline in supporting agents to maximise their time, grow relationships with their buyer database, save their sellers thousands of dollars and help them earn an additional recurring revenue stream.
ListingLoop.com.au, which recently announced a partnership with the Real Estate Institute of Victoria (REIV), and calls NBA and NBL basketball legend Andrew Bogut as an ambassador and investor, is Australia’s first buyer industry database. Agents can advertise their sellers’ properties for sale on ListingLoop.com.au under a no sale, no charge success-based advertising model where they pay for a result, not an advertising space. If there’s no buyer on ListingLoop.com.au, there’s no fee.
ListingLoop.com.au CEO Rhett Dallwitz said that “no sale no charge advertising provides an appealing, no risk solution during this current market. We understand that sellers don’t want to pay upfront advertising fees, while agents are not in a position to carry these fees on behalf of their sellers. Our model provides a safe digital solution that connects motivated buyers to the right properties faster than ever before”.
The ListingLoop.com.au platform saw a 23 per cent increase in buyer registrations last month demonstrating that there’s still serious buyers out there ready to take action. The company anticipates further buyer sign ups as people become more and more accustomed to our ‘new normal’ way of living.
Buyers receive superior and timely service by registering their homebuying criteria and receiving an alert in real time the moment there’s a just listed or exclusively listed property that matches their needs. It’s a fresh and efficient take on the traditional model of property ‘searching’, especially now that not all properties listed for sale are on the major real estate websites due to the upfront advertising fees.
A property listing and property photos taken from a smartphone can be uploaded to ListingLoop.com.au in less than 30 seconds, including immediately after an agent has got the job and signed the listing authority. Registered matching buyers are notified instantaneously.
For sellers that need to sell but don’t want everyone knowing, all property information such as the address and the sale price are protected behind a login. The property is only seen by registered matching buyers on ListingLoop.com.au and is not visible in search engines such as Google and Bing, shutting out the window shoppers.
Unlike markets such as the US, real estate agents in Australia typically generate revenue through their sellers. ListingLoop.com.au is the first industry platform to financially reward agents for the work they put into helping buyers find their home. Up to 50 per cent of ListingLoop.com.au’s advertising revenue is paid back to an agent when a buyer purchases a property from within the ListingLoop.com.au network and from outside of their agency. If that buyer purchases property through ListingLoop.com.au multiple times in their lifetime, the agent receives a recurring revenue stream.
If a buyer purchases a property that’s the agent’s own listing, or if the listing falls under the agency that the agent belongs to, there is no fee. ListingLoop.com.au’s ‘community over competition’ approach to real estate has never been more relevant.
Agents are working more closely than ever with buyers as we collectively recognise the value of home and how much our homes matter. ListingLoop.com.au provides agents with free buyer intelligence tools that helps them instantly identify the buyers within their database that are actively looking for properties and those that could also be potential sellers.
“Despite a substantial drop in transactions, the role of a real estate agent has never been more important. Home is where we are eating, sleeping, playing, working and home schooling right now. An agent can tap into new tools and technologies to help buyers find the place that’s right for them, while supporting their sellers with targeted and cost-effective solutions that generate sales,” Mr Dallwitz said.
