Why online offer management is the way forward post COVID-19

The impact of COVID-19, particularly in the Eastern states, has seen the almost total shutdown of the real estate industry at different times.

Over the past two years, residents of New South Wales, Victoria and the ACT have spent more time with either massive restrictions, or completely unable to work in a traditional sense.

It’s forced the real estate industry to change, thrusting it into the online space – one of the last remaining industries to do so.

Market Buy has been instrumental in this process, enabling agents to continue to sell properties, legally and within the COVID-19 rules, and most importantly, keep that revenue coming into the business to keep doors open.

With Market Buy, everything is done from the one place – it’s completely digital, and communication takes place in real time, from anywhere.

But the agents who have embraced Market Buy understand that the benefits and efficiencies gained through our innovative system will last far beyond COVID-19.  

One of the biggest things we’re seeing is that Market Buy is saving agents, on average, about two hours per buyer, per listing.

So, if you’re running an open home and you get 10 people through that home, Market Buy can save you about 20 hours, when you factor in processing contracts, writing up offers, and follow-up engagement.

All of that functionality is suddenly undertaken in an extremely easy fashion, and the inevitable back and forth is done automatically, and instantaneously.

That’s saving agents a massive amount of time. And from a pure benefits perspective, it’s resulting in agents having greater quality of life  – that fabled unicorn of work/life balance.

Alternatively, agents may use that extra time to increase their capacity, without increasing their workload, opening up free time to put into more dollar-productive activities.  

But it’s not just agents who reap the benefits, so do buyers and sellers, who can now add real estate transactions to the myriad other purchases they’re able to complete online, not to mention the transparency Market Buy offers.

Real estate is one of the only industries that remained resistant to online transactions prior to COVID-19.

Before COVID-19, I could purchase a new car online, including organising the test drive.

Recently, I had Tasmanian gin arrive on my doorstep with a couple of clicks. You could order or organise almost anything via the internet.

Real estate held out on that, and it took a global pandemic for that to change. It had to.

And it’s had an irreversible impact – a positive impact – on our industry.

This is how the world wants to shop, how it wants to purchase.

What clients are saying

Don’t just take my word for it.  Here’s what some of our clients are saying about what Market Buy has done for them during COVID-19, and what they expect to achieve moving forward.

Jo Mooney, Just Realty

“I was branching out into an independent agency, and it was a brilliant point of difference to have in my marketplace as a listing agent. More importantly, it aligned with my firm belief that there should be no secrets between selling agent and vendor.

“The popular message was that Market Buy provided seamless remote transactions, but the true benefit in my experience was in relation to the buyer management.

“In the absence of face-to-face opportunities, it was so important to develop trust with buyers and during the extended hard lockdowns here in Melbourne there was no such thing as a quick phone call.

“Buyers deserved and needed the transparency and full circle communication that Market Buy provides, with no additional effort from the agent, and that was paid back with strong prices as the outcome for our vendors.

“Market Buy became incredibly popular during COVID-19 for obvious reasons.

“However, the collaboration with vendors, the respectful management and treatment of buyers – these things should not be undone as we move out of COVID-19 restrictions. Market Buy facilitates all of this while giving all-important time back to agents.

“On a human level, Market Buy gives me peace of mind. The introduction of Market Buy into my selling process back in 2019 saw my average sales price increase, while the days on market were literally half that of others in my market.”

Chris Gilmour, All Properties Group

“I’ve been using Market Buy for about six years now. I wanted something that involved the seller and brought 100 per cent transparency to the buyers.

“Thanks to Market Buy, the market is pumping along despite COVID-19, and with a lot of interstate interest, it allows local and interstate buyers to compete for the property while driving up the sale price for our sellers.

“There is no other platform that can do what Market Buy can do, it’s totally flexible on how you can run an auction, fixed date sale, or a normal private treaty sale – honestly it’s the best software in real estate currently.

“Market Buy is the way forward 100 per cent, every property of ours is now a Market Buy property.

“Without it, buyers are missing out on homes and frustrated with agents that don’t disclose pricing when there are multiple offers.

“Market Buy shows where each buyer sits so they can all walk away happy knowing it was on them if they miss out – it’s a win-win for everyone

“It gives a strong point of difference in the marketplace, it’s easy to use and it will be the future of all real estate transactions in time, no doubt.”

Sam Dalby, Laing+Simmons

“I started using Market Buy several months ago, having had access prior to lockdown, but getting a really good run of it during lockdown.

“Simply put, it’s easy. It makes communication with all interested parties simple; they know where they stand subject to other offers instantly.

“There’s increased transparency, speed of communication and the best result for the vendor.

“It absolutely has a place after COVID-19, because consumers want to know how their offers compare to the rest of the market. Market Buy does this simply and effectively.

“It has saved me hours. Instead of having to call 30 buyers to say we have a higher offer they can see it for themselves.”

Source: Market Buy

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John Hellaby

John Hellaby is the Chief Executive Officer at Market Buy.

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