With the quick development of real estate portals all over the world, the industry is starting to move with the times as new technologies improve efficiency.
The four biggest American proptech firms, Compass, Opendoor, Redfin and Zillow have brought online property transactions into people’s daily lives, leading to a more transparent and liquid market with the lower transaction costs.
Since 2012, American venture capitalists invested tens of millions of dollars in proptech each year, and by 2019 that had climbed to $6 billion. These four best firms have a combined valuation of $23 billion, selling massive homes each year.
One of China’s largest developers, Evergrande Group (previously Hengda Group) now allows buyers to view and buy properties online due to the drop in demand following the Coronavirus outbreak.
In February, over 47,540 apartments were reserved within three days, and it has received 58 billion yuan ($11.4 billion) deposits with a conversion rate of around 70 per cent.
Last Friday, 13 March, 14 luxury apartments valuing 600 million yuan ($139 million) has been sold out in eight seconds after the properties were released to the public in Shenzhen.
Technology manages to really change the makeup of the residential real estate market, and it would get to a point where the algorithm beats the human.
In Australia, apart from the most visited portals REA and Domain.com, Australians now have a new way to purchase property with digital home-buying portal Swooper launching nationwide in February 2020.
Swooper is revolutionising the Australia real estate industry by making massive property projects seamless to the property buyers and providing end-to-end services.
By using the top-notch technologies, Swooper features a wide variety of top-tier new property developments from across the country, and implements customized digital campaigns into each project to ensure the precise exposure to potential buyers.
With the mission of reinventing real estate in the buyer’s favour, Swooper has introduced its cashback policy that buyers can potentially get the property with a deposit of as little as 2 per cent to 3 per cent so as to enter the property marketplace easier and faster.
The portal has processed several offers, with some acceptance already.
The other features including virtual reality (VR) property tours, online chats and appointments, and online property reservations with e-contract will be introduced on Swooper in the next quarter, empowering buyers to be able to going through the buying process without the face-to-face interaction, and developers are welcome to register early and join Swooper’s prelaunch campaign.
Swooper would only select four listings per region as its feature listings to promote to buyers.
Listing the project development on Swooper is free of charge, and with this developers will also receive access to the exclusive agent channel and massive buyer network.
“Our targeted campaigns provide our developers with a large number of leads for their projects, while also receiving a team of advisors working on selling properties within the development,” Swooper general manager Lesley Gregg said.
“As an end-to-end servicing portal, Swooper has its own certified property advisor team, and empowers external real estate partners after the qualification.
All Swooper online enquiries are accompanied with the allocated property advisors, who will empower buyers throughout their buying journey by offering them with intelligence and simplicity, and creating a service experience which is second to none.” Swooper chief executive Alan Lung said.
Thanks to specially designed software systems and proprietary data, Swooper has an edge in guiding buyers to the right decisions and helping developers with fantastic efficiency.
Swooper’s ultimate goal is to add value to the real estate space through the power of technology.
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