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The business of real estate touches two sides of human nature. On one hand, buying and selling a home is emotional, and on the other it’s a decision grounded in facts and figures.
Now, more than ever, those facts and figures are critical to agents and their clients, winning the listing, informing authoritative discussions with sellers and buyers, and securing the next sale.
Domain is supporting agents’ digital transformation, now and in the future, by making its Platinum-exclusive data and analytics – Market Insights and Market Trends – available to every customer for a limited time.
And as agents look ahead and nurture ongoing relationships with potential buyers and sellers, to ensure a vibrant business after COVID-19, Market Trends and Market Insights are an essential to fostering those leads.
This unique Domain data helps agents to stay across suburb-level market movements, building trust through insightful, well-informed conversations, and positioning themselves as the agent of choice for when a vendor is ready to list.
Harcourts Solutions group director Brendan Whipp knows the power of Domain’s insights well.
His Brisbane-based team has been using fast-tracked data and analytics from Domain’s Market Insights and, more recently, the newly launched suite of Market Trends to inspire confidence among buyers and sellers in an evolving COVID-19 market.
He said agents generally had access to data that was quarterly, broad and based on state or city level stats, but that didn’t help to isolate the specifics that apply to individual clients.
However, the timely data and analysis provided by Market Insights and Market Trends do just that – they are precise to a property, and an area, so conversations and campaigns are more bespoke and incisive.
“The good thing about Market Insights and Trends is that it is more relevant to the actual client they are sitting in front of,” Whipps said of his agents.
“They have the ability to drill down suburb by suburb, and the data is timely – the past seven days, or 14 days. When you break it down, it becomes a relevant conversation with vendors and buyers.
“There is an appetite for what is happening right now.
“We transact circa 600 to 800 sales a year, so we have our finger on the pulse and we come with the credibility to say ‘this is what we are seeing within our business’, but when you can also say ‘this is what is happening in your suburb’, coupled with the strength of our team, it is certainly very powerful.”
Fletchers auctioneer and director Tim Heavyside, based in Melbourne’s eastern suburbs, said sharing Domain’s sharp insights with buyers, in particular, motivated them to move forward and ink the contract.
Domain’s up-to-the-minute, tailored data provides the foundation that reassures buyers of a property’s value and appeal.
“It is information which is very important,” Heavyside said.
“You might be explaining statistics to a buyer to give them the confidence to act. A lot of the time they need reassurance that they are making a good decision, and not paying too much.”
Market Insights, and the new Market Trends, are accessible to Domain Platinum, Gold, Silver, Branded and Basic customers from April 30 to August 31, 2020.
Domain Market Insights helps agents shape an astute campaign based on property-specific market dynamics and analytics.
Agents can view supply and demand trends, estimates of property values (including rental prices and yields), compare sales strategies, time-on-market performance, and explore breakdowns of the postcodes potential buyers are coming from.
Market Trends provides insider knowledge on suburbs and surrounding areas, positioning agents as the agent of choice in their market.
Customers can explore data around supply and demand (revealing current supply, competition and new listing trends in a specific suburb and surrounding area), potential interest (higher-intent activity such as requesting a contract, inspection, or phone and email inquiries), and Homepass Check-ins (to monitor and track property seeker interest, now and after COVID-19).
Domain’s property-specific Market Insights were released earlier this year, followed by Market Trends in late April, and the Domain Group Director, Commercial, Tony Blamey said last month the Insights series would be added to.
The suite will be expanded to include professional performance insights, to assist agency directors and principals to attract, retain and mentor talent based on results.
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