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The Adelaide-based offer management platform which aims to take the “friction” out of the private treaty offer and acceptance process is kicking goals.
The technology company, which originated in South Australia, is now reporting it has helped 130,000 Australians to make an offer on a property.
With offer values exceeding $3 billion total, RESO said it is seeing demand pick up across all mainland states, with Queensland, NSW and Victoria leading the charge, ahead of its use across its home market of South Australia and neighbouring Western Australia.
The chief executive of RESO, AJ Chand, believes the demand is being borne out of the fact that “no one likes missing out on their dream home”.
He also acknowledged “most buyers these days are digitally savvy and prefer the convenience of an app that’s always available and up-to-date, rather than relying on emails and phone calls”.
With the RESO app capable of providing buyers an instant snapshot on where their offer ranks and make negotiating decisions based on the data, the company noted that it is now fielding and uploading “multiple” listings a week from vendors who had previously bought their property using the platform.
Chand conceded that it’s oftentimes “challenging for real estate agents to nurture multiple competing offers”.
In a competitive marketplace such as Australia, “this creates a lot of work for real estate agents and buyers and, as a result, vendors can be left with doubts whether they ended up accepting the best offer”.
And it’s why RESO was developed, aiming to give people back their time as well as “take the friction out of the private treaty offer and acceptance process”.
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