While it’s no doubt that the lockdown in Greater Brisbane this last weekend was a shock to many, for a number of leading real estate professionals in South East Queensland who are adopting new methods in their businesses, there was no lost momentum in the current hot market.
Agents across the Brisbane region (and nation-wide) have been fast adopting new methods of attracting and qualifying buyers that circumvent the restrictions from lockdowns and public health regulations, and these agents are now reaping the rewards.
The strategy? Ensuring buyers can access properties rain, hail, or lockdown through virtual property tours.
According to Josh Callaghan, CEO of Virtual Tours Australia, “this strategy of virtual open homes is seeing sales agents and property managers keep interest in property at an all-time high”.
“With the recent events on the weekend in South East Queensland, and the events of 2020, we have seen a huge shift in real estate professionals adopting new methods of attracting and qualifying buyers to ensure they can serve a hot market with no barriers.”
“One of these being the introduction of virtual tours on listed properties, not to market a property, but to rather allow unrestricted access to view and experience a property as part of a sales and qualification funnel.”
“In the past 9 months, vendor, buyer, landlord and tenant behaviour has changed significantly, and these ‘new’ methods are crucial to the success of the real estate industry now. This weekend was another example of this.”
“In Brisbane, our team identified 200 physical open home inspections that had to be cancelled due to the lockdown. Whereas the agents who had virtual open houses with us were virtually unaffected.”
“In fact, this weekend we saw 1280 unique groups virtually walking through open homes across QLD with a duration of 3mins plus on average.“
“This means that these properties that could keep buyers interested far outperformed any other listings on the market this weekend, exclusively snapping up the hot buyer attention with virtual inspections.”
Mr Callaghan also points to the fact that virtual open homes don’t just help in the sticky situations of unexpected or prolonged lockdowns but help the ‘every-day’ property buyer, too.
“Interstate, international, institutional, shift-working, remote, busy and family buyers are now able to go through the evaluation stage of their purchase process without friction at any time of the night or day due to virtual open homes.”
“This adoption of this method also means that a buyer calling up on day two of the campaign is likely to have spent more than 10 minutes in the house and is ready to talk offers, fast-tracking the entire sales process.”
He concluded that like any technology or method, while fundamentals are good, results are better, and he is consistently seeing sales results directly from virtual tours.
“Recently we had a client sell a property in just 3 days to an overseas buyer thanks to the virtual tour. Without that tour, that sale would likely have been impossible.”
ABOUT JOSH CALLAGHAN:
Josh Callaghan is a dynamic and seasoned leader and expert in the world of both technology and property. For over 20 years, Josh has been using his expertise in strategy, product, technology, and marketing to make significant notable transformations in fintech, proptech and the interplay of technology and humans.
His career achievements to date include launching the world’s first bank account with both variable and fixed interest, creating Australia’s first straight-through online bank account opening process, building Australia’s most used retail stockbroking CRM, building Australia’s biggest online financial comparison site and launching the world’s first digital tenancy agreement executed as a smart contract on the blockchain. Josh now leads proptech start-up company Little Hinges, a world leader in digitising spaces.