With property sales slowing and homes taking longer to sell, real estate agencies are facing growing pressure to demonstrate value and give property owners more reasons to choose and stay with their agency.
Cotality’s September Housing Chart Pack shows property sales have declined over the past year, while the median time on market increased from 28 days to 39 days.
RealtyAssist CEO Tom Kellaway said agencies increasingly need ways to support clients beyond the traditional property transaction.
“Agencies are looking for more ways to demonstrate value to their clients. One way they can do that is by helping property owners and rental providers solve more of the financial challenges they encounter throughout the property journey. ”
“For years, RealtyAssist has helped agencies with one important part of that journey, funding property marketing.
“But property owners face financial challenges well before the signboard goes up and long after the campaign begins.
“We want to help agencies be there for more of those moments.”
RealtyAssist has expanded access to property finance solutions, helping property owners fund costs throughout the property lifecycle.
VPA helps vendors fund property marketing expenses, VPA+ covers a broader range of property preparation costs, and Equity+ provides early access to property equity.
RealtyAssist has also expanded into property management with the launch of Rental+, giving Property Owners and Rental Providers access to its lender’s product to help fund essential works.
Together, the four solutions are designed around different stages of the property journey from maintaining a rental property, to preparing a home for market, funding the sales campaign and accessing equity once a sale becomes unconditional.
More reasons for property owners to turn to their agency
The strategy is built around a simple idea: agents and property managers are often among the first people property owners speak to when something changes.
That could be a rental property owner facing an unexpected repair, an owner considering what needs to be done before selling, a vendor wanting greater flexibility around their marketing campaign, or a seller working out how to fund their next move.
Rather than treating those as separate moments, RealtyAssist is building its suite of solutions around the broader property journey.
Investment property – Rental+
Rental+ gives eligible property owners another way to fund repairs, maintenance, compliance-related works, special levies and eligible improvements with repayments coming out of the monthly rental income, giving property managers a finance option they can refer eligible owners to when an unexpected or significant property expense arises.
Preparing to sell – VPA+
VPA+ gives eligible vendors access to additional funds that can be used for eligible expenses before a property reaches the market, including works that may help prepare the property for sale.
Going to market – VPA
Through VPA, RealtyAssist gives eligible vendors access to its lender’s product to help fund property marketing expenses, , giving agencies and their clients greater flexibility around the campaign.
Sale unconditional – Equity+
Once a property is under an unconditional contract, Equity+ gives eligible homeowners a way to access equity from the property they are selling to help fund what comes next, including costs associated with their next property, relocation or other major expenses.
Luke Kenyon, Head of Product and Growth at RealtyAssist, said looking at the products as one connected journey had changed the way the business thought about its role within real estate.
“When we mapped out the challenges property owners face, it became clear that marketing was only one moment in a much bigger journey.”
“An agency might manage an owner’s investment property, help them prepare it for sale, take it to market and then support them through what comes next.
“We want RealtyAssist to give agencies something valuable they can bring to the conversation at each stage”
Tom said the broader strategy was ultimately about helping agencies strengthen their client proposition.
“The marketplace is more competitive than it has ever been,” Tom said.
“Providing agencies with a broader range of support to give them a competitive edge is at the forefront of our strategic thinking.
“We’re looking for more ways to strengthen the relationship between the agent and property owner.”
The expanded suite gives RealtyAssist a broader role across both property management and sales, with products designed around some of the key financial pressure points property owners can encounter throughout the property journey.
To learn more about RealtyAssist and the property finance solutions available through its lender, visit, realtyassist.com.au.