Proptech Industry Helping Developers In Difficult Market Conditions

As technology continues to become embedded in our day-to-day lives, the property industry is turning towards new technology that can help attract and engage more buyers, even as market conditions soften.

The proptech industry is currently booming, with technology now available to help developers appeal to a wider range of purchasers, while keeping buyer engagement levels high throughout the entire sales process.

From virtual reality technology, to 3D modelling and blockchain, proptech is effectively overhauling the way the property industry operates from a marketing and sales perspective.

As the market continues to tighten across the country, and the apartment market remains soft, turning to technology can be a key way for developers to differentiate both their own brand and their projects to potential purchasers.

One proptech company that is leading the way is Snaploader.

Snaploader has developed a number of unique 3D modelling and virtual reality software solutions that developers across the country are adopting to help their sales and marketing teams.

Related: New Technology Helping Developers Secure More Buyers

Snaploader, part of the Charter Hall's Proptech Accelerator Program in 2018, understands the importance technology plays in the property industry and how it can be used to enhance the customer journey and streamline purchases.

For buyers, physically viewing a property is a key part of the purchase process, especially when it gives them a general ‘feel’ for the property and its surrounding location – making these interactive technologies even more crucial for selling property off-the-plan.

By implementing virtual reality and 3D modelling technology – both online and at a physical sales office – it allows buyers to interactively engage and ‘view’ off-the-plan apartments, helping developers create an extremely realistic viewing experience.

This interactive viewing experience actively assists buyers with their purchasing decisions by making buying off-the-plan a much less daunting experience while keeping potential buyers engaged with the sales team for longer.

Next generation of buyers are more tech-savvy and are looking for tools which offer more transparency in the complex process of purchasing property.

As a support to the buying process, contemporary formats for asset visualisation significantly add to the understanding that a buyer has for a property.

“Potential purchasers tend to spend more time reviewing floorplans and become more engaged and interested in the different unit types.”

“The technology gives them more confidence in the purchase since people want to touch and see exactly what they are buying.

“This technology is especially beneficial for clients who like to visualise. The other benefits are that we are able to share the building links to purchasers and also other agents who can then utilise this selling tool anywhere they are,” Neal said.

Although buying property is one of the biggest decisions that an individual will make, most people are time poor highlighting the need for bridging tools which support faster and better decisions offer a high level of satisfaction for buyers.

In an increasingly difficult market, it’s technology solutions like interactive 3D models that are proving to be an essential point of difference in the sales process – as was seen in Geocon’s project High Society in Canberra, which saw technology play a major role in its record sales numbers.

“Geocon offers a range of purchaser incentives, locations, developments and unit types to suit every budget and lifestyle,” Geocon marketing director Melanie Hindson said.

“To accompany these offers, the 3D technology empowers our customers make the right decision to suit their needs when it comes to property investment.”

Working with leading developers across Australia, Snaploader’s technology plays a key role in the proptech industry while highlighting that developers who think outside the box when it comes to technology are going to reap the benefits.

With innovation continuing and technology becoming increasingly ingrained in society, the proptech industry is quickly becoming the future of the property and development.

Both software developers and property developers are now working together to make buying a property easier, quicker and more engaging for buyers.

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