Digital lender and non-bank challenger MoneyMe has revamped its ListReady product for real estate agents in a bid to create a more seamless process that allows them to focus on what they do best, while empowering sellers in a shifting market.
The new-look, rebranded ListReady now offers agents a significantly improved referral process, and no longer requires them to be responsible for any paperwork, admin, and risk.
Instead, vendors will be able to pay invoices and transfer funds straight from their ListReady account and manage repayment at settlement, empowering agents to focus on selling properties and building all-important trust and relationships with customers.
The new offering will simultaneously create greater convenience, simplicity, and flexibility for vendors wanting to invest in the saleability of their home without being out of pocket, maximising their property’s selling potential ahead of sale.
MoneyMe Founder and Chief Executive Officer Clayton Howes said this created a win-win situation for real estate agents and vendors
“Agents are such an important driving force behind Australia’s strong property market, playing a vital role in creating liquidity and helping buyers and sellers to realise the dream of homeownership,” he said.
“ListReady assists by removing the need for any awkward ‘money conversations’ with vendors regarding the expenses needed to prepare their property for sale, while allowing vendors to avoid the lengthy process of refinancing or expensive credit cards.
“In cases where properties are not in need of renovations or improvements, there are often other expenses in the sale process that add up, such as auction fees, styling and cleaning costs.
“By removing the friction in the process of accessing credit for a range of important pre-sale and sale activities, ListReady is helping to empower sellers in all types of market conditions. This will always benefit the agent as well.”
Using ListReady, eligible owners of Australia’s 10.5 million dwellings can access up to $35,000 on demand to spend on activities that will help to maximise their property’s selling potential, with nothing to pay until the property settles, or for six months.
These activities can include marketing, advertising, photography, and floor plans; repairs and renovations; landscaping and gardening; styling and staging; building inspections; auction, conveyancer, and solicitor fees; accommodation during auctions; and more.
MoneyMe reported an upward trend in the spending of ListReady users, with the average amount of funds used 25 per cent higher in 2022 compared to 2021.
The most common uses of ListReady are to pay for marketing and advertising, renovations and repairs, and styling and staging.
On average, these categories account for roughly three quarters of users’ total ListReady spend.
The remaining quarter goes towards a wide variety of activities such as landscaping, conveyancing fees, and even hotel costs during auction, highlighting the diversity of activities sellers are performing to prepare a property for sale.
A simple and low monthly fee with no hidden extras ensures the cost is transparent, while the 100 per cent digital application process allows for simpler and faster approvals without sacrificing responsible lending, thanks to proprietary artificial intelligence and innovative technology.
ListReady is available to Australian residents who are 18 years or older and who own property.
