Insurance insights

Technology and property: Moving the industry online

It seems like the real estate industry is gearing up for a fully digital future, as buying, selling and renting moves swiftly online.

This comes on the back of the COVID-19 outbreak, which has been the catalyst for a bunch of industries to embrace new technology.

Below, we have compiled a list of innovative new websites and apps which our landlord and property manager clients may find useful during this season.

Digital inspections feature

Realestate.com.au has launched a new digital inspection feature to enable agents to use videos to showcase listings to potential renters and buyers. According to stats from realestate.com.au, the site saw a record 10.7 million people visit in March. Following the launch of Digital Inspections, more than 44,000 Buy and Rent listings now feature digital video tours, with views of digital video tours up 96 per cent and views of 3D tours up 327 per cent.

Remote property inspection app

Realm Australia has launched a Rental Property Self-Inspection app which uses AI technology to facilitate tenants performing remote inspections. The app then automatically generates a full report which is delivered to the PM for analysis.

Virtual home open tool

UberRE has developed a tool to enable agents to continue to provide home open inspections virtually using its online open house simulation.

Remote valuation tool

CoreLogic’s ValConnect Upload Portal assists valuers to effectively conduct remote valuations by providing real-time internal images of the property (obtained by residents uploading images) and using accompanying time/date stamp and geo-coordinates as a basis for conducting a valuation.

Online auction feature

Domain has launched an online auction feature via its Real Time Agent’s Bidtracker to allow potential buyers to register and bid on a property with one click.

Live streaming tool

KONECT is a purpose-built digital live streaming app designed to reconnect PMs with their tenants from a distance. The app allows the PM to initiate or schedule a high-definition, securely encrypted session to discuss, view and record any issue, conversation or inspection with the tenant.

Free AI tech

Propic is making its AI technology available for free to all REAs during the COVID-19 pandemic. Eliven is an interactive chat module (which draws on machine learning) on the REA’s website which helps to manage new enquires, facilitate appraisals, provide requested info, make informed suggestions based on customer needs, guide customers through the sales process and other time-consuming tasks.

Partnership connects buyers to properties

REIV and ListingLoop.com.au have announced a new partnership to support agents by “offering a safe digital solution that directly connects buyers to properties”. Agents can list properties on the buyer database without paying any listing or subscription fees and no fees are payable for the advertising if no sale is made.

Main photo by Yura Fresh on Unsplash

*While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you need us we are there, contact 1800 961 017 if you have any questions.