Real Estate Disruptors-OVERS
Online property management Whether you own an investment property and rent it out, or you’re a tenant looking for a home to rent, it may be worth checking out Cubbi. This online platform offers a comprehensive and user-friendly alternative to traditional property management. It’s designed to support and connect tenants and owners more efficiently, reduce costs, and streamline the rentals process. How it works: Like the DIY sales websites, Cubbi guides property owners through the leasing process. Rental enquiries are sent via Cubbi. The owner then hosts inspections and meets potential tenants. The rental application is then submitted and approved via the Cubbi platform. Cost: You can list your property for free on Cubbi, or pay $199 to have it added to all 10 major real estate websites including realestate.com.au and Domain. Cubbi charges 2% of the rent collected on the property.Good to know: While Cubbi provides guidance and support to both parties, it doesn’t make decisions on your behalf or negotiate between owners and tenants.
COPIEDListing and sellingFor decades, real estate agents have held the upper hand across all aspects of property sales and marketing. But thanks to a wave of online innovation, this situation is rapidly altering, with power shifting back to the vendor. Perhaps the most well-publicised real estate disruptor is the UK based company, Purple Bricks. Launched in Australia in 2016, this ‘hybrid’, low-cost real estate selling platform charges an up-front flat fee to list and market your property (either by private treaty or auction). The fee buys you a ‘for sale’ board, basic photography package and marketing on traditional online avenues as well as the Purple Bricks website, and a Purple Bricks agent will negotiate with buyers on your behalf. You handle inspections yourself. You also oversee the sales management and legal processes, but this is facilitated by the Purple Bricks online platform and their customer service teams.
COPIEDOnline property management Whether you own an investment property and rent it out, or you’re a tenant looking for a home to rent, it may be worth checking out Cubbi. This online platform offers a comprehensive and user-friendly alternative to traditional property management. It’s designed to support and connect tenants and owners more efficiently, reduce costs, and streamline the rentals process. How it works: Like the DIY sales websites, Cubbi guides property owners through the leasing process. Rental enquiries are sent via Cubbi. The owner then hosts inspections and meets potential tenants. The rental application is then submitted and approved via the Cubbi platform. Cost: You can list your property for free on Cubbi, or pay $199 to have it added to all 10 major real estate websites including realestate.com.au and Domain. Cubbi charges 2% of the rent collected on the property.Good to know: While Cubbi provides guidance and support to both parties, it doesn’t make decisions on your behalf or negotiate between owners and tenants.
COPIEDAlong with the no-commission/flat fee pricing structure, Purple Bricks offers a high level of transparency around how your sales campaign is progressing. The Purple Bricks online sales platform allows sellers to tweak their advertisement (including price) at any time, monitor viewings, receive and respond to viewing feedback or buyer queries, and see all offers as they come in. With this online platform, Purple Bricks really aims to give the seller control over the sales process.Cost: In Queensland, WA and SA: $4999 for a private treaty sale and $6369 for sale by auction (Purple Bricks will co-ordinate the auction and provides an auctioneer on the day). In Victoria and NSW, you’re looking at $5999 and $7369 respectively. The company also offers upgrades,where customers can pay extra for accompanied home viewings, extra advertising, additional photography, and a printed brochure.Good to know: You have to pay Purple Bricks their fee regardless of whether your home sells or not.
COPIEDNext Address is an online property-matching tool designed to take the hard slog (and expense!) out of buying or selling a home. The site uses algorithms to ‘match’ buyer wish-lists with properties for sale. The site was founded in 2015 by Ballarat-based ex-real estate agent Julie O’Donohue and today, it features 6000-plus registered properties from all around Australia.
COPIEDHow it works: Those looking to sell their home through Next Address create a listing on the site, including as much detail as possible. The platform will then match your property with buyers from its database. Those looking to buy a home set up an account and enter their property ‘wish-list’: number of bedrooms, storeys, location, etc. The more detail you can provide, the better. The site then recommends properties that align with your wish-list. Inspections are then arranged directly with the property’s vendor. Essentially an agentless model, NextAddress brings the buyer and seller together. Inspections, negotiations and legals must be managed by the buyers and sellers, although Next Address does offer online and phone support. Cost: It costs $1250 to list a home for sale on Next Address. This fee includes:online home listing and property-matchingonline and phone support from qualified agents‘for sale’ sign e-brochureonline system to manage inspectionssocial media marketing program.Good to know: This is a brilliant concept which will get even better as listings grow and its reach spreads across more locations....
COPIIERThe pricier packages include extras such as professional photography, copywriting for your advertisement, a consultation with a real estate agent, upgraded ad listings, professionally printed brochures, and negotiation assistance. Plus, if you want to sell by auction, an extra $895 will get you some professional support and an auctioneer on the day. When you sell your home with Buy My Place, you’re the sales agent for your home. You decide when to open up for inspections, you take potential buyers through the home. You’re in control from start to finish. For some, this is a positive: you love your home, and you know more about it than anyone else does, so who better to sell it? Others may feel uncomfortable about delivering the sales pitch, handling administration and negotiating prices without an intermediary.
COPIEDThere is quite a proliferation of websites that facilitate the ‘for sale by owner’ strategy, if you’re that way inclined. Some are larger than others and fees vary between companies. The key benefit offered by these companies is access to realestate.com.au – a major national real estate advertising website, which will only accept ad listings from registered agents. If you’re doing a DIY home sale without access to a database of buyers, inclusion on high-traffic property advertising sites is essential. Some of the ‘for sale by owner’ websites also allow users to put their properties up for rent, which is often a cheaper option than using a professional property manager. Check out the following: Real PrivateFor Sale By OwnerNo Agent PropertyAgent in a BoxProperty NowFor Sale For LeaseSell My Property NowReal Estate Your Way ...
COPIEDRealestate.com.au offers a search function that lists the agents who work in your suburb, how many sales they’ve completed in the past 12 months, average number of days it takes for their listings to sell and median sales price. The search function on the Open Agent website is a little more sophisticated: it asks a series of questions about your property and what you’re looking for in an agent to create a personalised shortlist of potential candidates. Local Agent Finder offers a similar service, taking the user through a few questions before presenting a comparison list of potential agents, showing commissions, marketing fees, and other service information. You can then choose who to follow up with.
COPIEDTest the marketIf you’re only half-committed to the idea of selling, you could put your home up on youWish.net.au. It’s a completely obligation-free way to showcase your property to potential buyers and gauge market interest, without officially listing it for sale. How it works: Load your photos and a pretty description of your home onto the website, along with your ideal price. You will be alerted by email when someone inquires about your property. If someone makes the right offer, you can proceed with a sale. Otherwise, you’re under no obligation to even reply to enquiries. As a buyer, youWish.net.au offers a chance to get a head-start on buying that dream house, before it’s even hit the open market. Cost: Free to search for properties. Listings cost either $99 or $199 for 12 months, depending on how many photos you include. Professional copywriting, photography and videography are all available for extra cost.
COPIEDVendorable, an innovative app that hit the Australian market in 2015, presents another way of connecting property sellers with agents. When property owners are ready to sell, they can list their property on the app, along with information about what you’re looking for in a sales professional and any other relevant information. Agents will then competitively tender to win the ‘job’. The great part about this app is that it puts the seller in the driver’s seat from the outset: you can set your own expectations around access, costs and preferred criteria.Cost: All these agent-finder services are free for property owners to use.
COPIEDFortunately technology puts this previously specialised knowledge at our fingertips. A good starting point is REALas: originally designed as a tool to help home buyers see past an agent’s price-deception, this clever app takes the latest property and pricing data, local market knowledge from property experts, and input from buyers and applies an algorithm to predict a property’s sale price. According to the REALas website, the algorithm can predict within 5 per cent of what a property will sell for. Registered users can access price predictions for properties that are already for sale. So if your home’s not on the market yet, REALas can’t predict a price for you. But it will give you a clear understanding of the value of comparable homes in your neighbourhood. The service is free and available across Australia. It’s also worth checking out PropertyValue.com.au, whichwill provide an estimate of the value of your property by comparing it to nearby properties with similar attributes that are currently for sale, recently sold or up for rent.
COPIEDNeed help finding and buying a house?Your Hot Property operates as a buyer’s advocate. Its step-by-step online program, the ‘First Home Buyer Buddy’ is designed to guide first home buyers through the entire purchasing process, from finding the perfect property, to negotiating the best sales price. Your Hot Property can also help buyers secure finance, negotiate the lowest price, and co-ordinate the conveyancing/legal side of the purchasing process. Your Hot Property is based in Sydney but services are available nationally.Cost: Fixed fee. According to the company website, if Your Hot Property fails to negotiate a purchase price you’re happy with, you don’t have to pay.
COPIEDOnline property management Whether you own an investment property and rent it out, or you’re a tenant looking for a home to rent, it may be worth checking out Cubbi. This online platform offers a comprehensive and user-friendly alternative to traditional property management. It’s designed to support and connect tenants and owners more efficiently, reduce costs, and streamline the rentals process. How it works: Like the DIY sales websites, Cubbi guides property owners through the leasing process. Rental enquiries are sent via Cubbi. The owner then hosts inspections and meets potential tenants. The rental application is then submitted and approved via the Cubbi platform. Cost: You can list your property for free on Cubbi, or pay $199 to have it added to all 10 major real estate websites including realestate.com.au and Domain. Cubbi charges 2% of the rent collected on the property.Good to know: While Cubbi provides guidance and support to both parties, it doesn’t make decisions on your behalf or negotiate between owners and tenants.
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