Are Property Apps The Future Of Real Estate Or Just Another Marketing Fad
It’s always nice to be invited to the launch of a new and upcoming real estate venture and when I was given the opportunity to enjoy an afternoon of drinks and nibblies at the Brisbane Powerhouse last Friday afternoon, of course I jumped at the opportunity.
You see, it wasn’t just the free food and wine that got me there, but I was very interested to see what this new real estate app was all about.
b4realestate.com.au. Heard of it?
Well you soon will.
It’s being launched to the public in the next few weeks and I was lucky enough to get the inside scoop on what it’s all about.
In my opinion, it’s not going to change the game, but it will certainly improve it, especially for buyers navigating a fast moving market. Quite simply it’s going to make buying property in a market where buyers are continuously missing out a lot easier.
Let me explain.
The basic concept of this new app, which by the way was developed by real estate agents themselves, is to allow agents to hit a button and send a property live to an audience of registered buyers immediately once the listing paperwork is signed.
When I say immediately, I’m not referring to after they’ve driven back to the office, filed the Form 6 and then called the people on their database, but before they even turn the ignition in the car to drive back from the listing appointment, buyers will be alerted of the new property instantly.
Like most apps of this nature, B4 requires buyers and agents to first download the app and register so in order for the app to become a success it needs to spread so that more buyers and more agents will eventually deem it as a necessary tool of marketing and sourcing property.
Are there loopholes? Sure.
For starters, it still requires the agent to make the initial contact with the potential buyer and we all know how some agents can be when it comes to call backs to buyers, especially in a hot market where agents and their assistants are struggling to manage an increased amount of buyer enquiry.
If this enquiry isn’t kept on top of, then the problem will not be the buyer knowing about the property, it will now be the delay in taking the next step to either inspect the property or make an offer.
But in saying this, the developers were quick to rebut that the app will not solve all problems in real estate nor will it replace traditional forms of property marketing.
It was made very clear the single focus of the app is simply to connect buyers with property faster.
Since a common complaint these days is from buyers who keep missing out; at least this will give them an extra opportunity, or heads up so as to speak when it comes to being one of the first to know about a newly listed property.
There will continue to be buyers who will miss out despite being a registered B4 app user but I guess it will be one more useful tool that will help facilitate property sales and overall this in my opinion is not such a bad thing.
So will real estate apps really wipe out traditional marketing?
I guess I would have to agree with the app creators and say no.
There will always be pros and cons for each type of medium we use, be it newspaper advertising, realestate.com.au, print publications or now, real estate apps, and sellers will ultimately be the ones who will dictate the use of these.
Price and value will always go hand in hand when it comes to choosing a platform on which to market a property for sale and at the end of the day, buyers will always find property through different means and varied portals.
Traditional property marketing is here to stay but if we can improve on this through apps and the rise of social media then it will only go to benefit buyers and sellers in the long run.
But for now, give it a go. If you're a buyer in the market, it's another tool for you to use to get the heads up on newly listed property.
Check out b4 here.