RESO fast gaining a reputation as a game-changer

Archive for Ideas – Page 2

RESO fast gaining a reputation as a game-changer

First National Real Estate Lewis Prior Sales Consultant Nick Rogers knows that hard work, dedication and communication provide the strongest foundation for success in real estate.

Selling or buying a home is one of the most significant experiences we have to navigate through and so Nick is always looking for ways to simplify and improve the buying and selling process.

“Achieving the best outcome for my clients and assisting them in what is traditionally a highly stressful time to make the move in to the next stage of their life in a stress-free fashion is the most rewarding thing I can be involved in,” Nick says.

“A property I sold recently in Camden Park using RESO was the perfect example of providing a simple and streamlined process for the potential buyers and the vendor – and the time I saved going online was a game-changer.”

The property at 24 Whelan Avenue Camden Park was sold as a ‘Best Offer’ campaign running over three weeks, and both the vendor and the buyers were thrilled with the final price and the instant, yet still personal, online registering, documentation, offers and contract completion processes. 

24 Whelan Ave, Camden Park

“I am always keen to try new technology and I believed this property was likely to have a good response in terms of large numbers of people coming through open inspections and then subsequently having multiple offers,” Nick says.

“So, I thought this was the perfect opportunity to give RESO a go and it was because we had 39 groups through, 14 offers through the platform and I was still able to negotiate a mutually agreeable final price for a quick sale.

“When we are in a hot market the old ways of making times to meet with buyers and discuss offers may have been suitable.  But when we are in a more changing and challenging market, like we are now, having all the tools up your sleeve to make it far easier for a buyer to make an offer is essential.”

First National Real Estate Lewis Prior Sales Consultant Nick Rogers

To get all the details, Chelsea Dwyer, BDM & Trainer of RESO, sat down with Nick and asked him to talk through why RESO is such a game-changer and now a vital part of his exceptional approach to communicating and optimising outcomes for vendors and buyers…..

Chelsea: Was the RESO platform easy for buyers to register and then move to offering?

Nick: All the feedback I have had from the buyers from the Camden Park sale has been really positive with everyone finding the process smooth.  And that RESO has a great interface, that they didn’t have any problems navigating.

C: Did you upload any documentation to the RESO platform for this sale and, if so, what did you say to the buyers about the process?

N: I uploaded the contract and the Form 1 so all the documentation was accessible.  I explained that RESO provides the opportunity for them to submit their offer instantly.  And when we rank the offers they can see where they stand in the offers and can subsequently revise their offers and conditions as often as they like. 

C: What did you find after ranking the offers during that sale process and did you personally get in touch with all the buyers?

N: With ranking I found that one buyer, in particular, increased their offer three times.  Not everyone did revise their offers but those who did, moved to their final and best offer and revised either price or conditions, or both. The platform meant that I was making less phone calls but was able to focus those calls on the top few offers.  This streamlined the process and made it more time efficient.  And having the ability to follow up the ranking with the courtesy message “we are now moving into final and best offer” did make it so much easier and more user-friendly for everyone.

C: What was the highlight of using RESO to sell this property and would you like to use it to buy a property?

N: Being autonomous and seeing people be able to get in there and change their offers at 7pm at night while I am at home and getting alerts was a highlight. It was great to be able to monitor the process as it was happening.  And personally, I think RESO is a good system.  Some of the buyers referred to it as an online auction platform which isn’t correct because it does give people the ability to have their offers subject to other conditions like finance or building inspections.  I think it is just about educating buyers and helping them understand and feel at ease with the (buying) process.  They still have the ability to ask questions across the whole the process but importantly it makes it all more transparent.

C: Did you find with the best offer by sale that you got offers faster than you would have doing things the old paper way?

N: Yes, we had two weekends of open inspections before offers closed and everyone who came through was sent the invitation to register and submit an offer.  I did get an offer on the night of the first open inspection which put me in a position where I could categorically say to people there were offers on the property. 

C: Do you think the ability to submit offers online was the reason you got so many?

N: We live in a world where we are time poor so taking a couple of hours out of your day to meet with an agent and place an offer – I can see how people might see that as a drawback. Providing all the documents up front through the platform is good because it gives people the time to look through it all, seek advice and be confident so that the transition from letter of offer to contract is then just so much easier.  With this property we had 39 groups through and 14 registered with RESO to give an offer. Nine groups made offers but there were  14 actual offers because some made multiple offers.  It was a great outcome.

C: To define that process in physicalhours rather than as a digital option – how many hours would you estimate it would’ve taken?

N: If I was managing that sale in the way that I have before and physically sitting down with all the people interested and putting offers directly into the contract of sale you would at least be talking about an hour to 1.5 hours per appointment.  With nine offers that would be a minimum of nine hours plus driving.  And then add to that revising offers – there is certainly a great deal of time saved with RESO.

C: How did you find the RESO process in terms of facilitating the negotiation process?

N: It didn’t inhibit that process at all in, in fact, it facilitated a smooth and mutually beneficial negotiation.  The successful buyer was a result of negotiation from their “final and best offer” on the RESO platform.  When I was with the owner presenting all the offers from the RESO platform I had the contract filled out and ready to sign with all the final offer details submitted through RESO.  But the owner wasn’t quite happy so we simply rang the successful buyer and negotiated a mutually agreeable price.  So I was able to negotiate manually but I just didn’t have the time lag of having to re-do paperwork and shuffle it all back and forth.

I will be definitely using RESO again, in fact, another property has just launched.

If you would like a quick and easy run through of the platform give Rachel a call on 0447675958 or Chelsea on 0488002539 or you can email info@reso.com.au  

Or check out https://www.reso.com.au/agents/

Main photo: Chelsea Dwyer, RESO BDM & Trainer with First National Real Estate Lewis Prior Sales Consultant Nick Rogers

Change brings opportunity

In our everyday life, as more and more tasks become digitised, the technology available to us is being adapted and enhanced at a rapid rate.

Over the past few years the real estate industry has been focusing significant energy on technology and innovation and how they can help improve productivity and provide even better customer experiences.

The recently released fourth edition of KPMG’s Real Estate Innovations Overview, in collaboration with Global PropTechand Holland ConTech & PropTech, shows just how much, changing technology will drive transformation of the industry over the next few years.

KPMG has identified a set of key industry trends – in the image below – that they believe require technological solutions to ensure real estate businesses can adapt and thrive.

Global Lead of Real Estate Consulting, Sander Grunewald, says the Real Estate Innovations Overview shows a bright future across real estate for those leveraging innovation, but only if it is part of a long-term strategy.

“The real estate sector needs to act to embrace innovation and increasingly recognise the opportunities of this digital transformation in their strategy,” Grunewald says.

“Over the past three years we have seen an increase in interest in PropTech and real estate innovations.

“In our view, any real estate company not exploring and exploiting property technology and innovation should question its strategy.”

Recently more than 700 speakers from around the globe shared their technology ideas at the 5th FUTURE: PropTech event in London.

Key players in PropTech, like Heather Staff, the co-founder of Spectrean online tool that helps agents find properties to sell, described how quickly things are changing.

“Until recently there has been a lack of innovation in the area of helping agents do their day to day job better so there will be a lot happening in that space in the next few years,” Staff says.

RESO CEO Kate Chalk says Real Estate Sales Online(RESO) is an example of technology that helps agents work more efficiently – reducing their costs of doing business through automation, speed, a seamless end-to-end process and scaling of the property purchase.

Agentswho use the RESO platform can upload a property in a matter of minutes and provide buyers 24/7 access to the registration, offer and contract process,” Chalk says.

“More and more agents are sharing with us that time and energy are being saved in spades with buyers being able to access all stages of the buying process online and respond to the different stages instantly wherever they are in the world.” 

To see how RESO can help agents improve their efficiency and enhance relationships with buyers go to www.reso.com/agents/

From hands…to heads…to hearts

The future of work for Australians, and people all over the world, is endlessly being questioned by those who fear the “robot revolution”.

Deloitte Access Economics released research this week that significantly debunks the myth that the path to prosperity is mechanical, showing, in fact, that the future of work is human.

Deloitte partner, and lead report author, David Rumbens, says while technology is driving change in the way we all work, and the work we do, we can actually use technology to create more meaningful and productive jobs.

That today’s jobs are increasingly likely to require cognitive skills of the head rather than the manual skills of the hands won’t be a surprise,” Rumbens says.

“Yet something new is also happening with jobs increasingly needing us to use our hearts – the interpersonal and creative roles, with uniquely human skills like creativity, customer service, care for others, and collaboration.”

CEO of RESO – Real Estate Sales Online – Kate Chalk, says real estate agents have always known the value of individualised attention and work tirelessly to deliver exceptional customer experiences to vendors and buyers – every day of the week.

“When it comes to buying and selling property, people want local knowledge, genuine and timely service and, of course, the best financial outcome they can possibly generate,” Chalk says.

“Deloitte’s The path to prosperity: Why the future of work is human report shows the biggest threats to our employment market could actually be a lack of workers with the right skills and a workforce that’s also feeling burnt out.

“RESO is a property technology tool that allows vendors and buyers to have an instant, transparent and simple property transaction processes from beginning to end – freeing up time, and money, better spent in other ways.

“By supporting agents to seamlessly manage sales online capturing all buyer details, their offers and conditions, from the first contact, right through to contract completion, precious time can be channeled into authentic, human interactions,” Chalk says.

“RESO ensures agents are still in the driver’s seat because the real estate transaction is personal, complicated and emotional, and agents have the skills to deliver exceptional consumer experiences.

“RESO has taken a collaborative approach with agents and the industry – working together to provide a digital choice that adds significant value to the real estate transaction process – because there is nothing “robotic” about the individualised services great agents provide.”

For details on how RESO supports agentsbuyers and sellers visit www.reso.com.au or call 1300 1230 91

Easy and innovative property transactions at your fingertips

The digital revolution has been a massive game-changer for all industries.  

Consumers now expect to receive information, answers to their questions and access to a range of services immediately, from ordering food to receiving pre-approval on a loan for a home that they then buy online as well. 

The Deloitte Mobile Consumer Survey found that 89% of surveyed Australians now own a smartphone, up from 88% in 2017 and 84% in 2016.  

Comparing the behaviours of mobile consumers in Australia with other geographies shows our level of engagement (or perhaps obsession) with our smartphones to do everything, suggests we’ve not yet reached ‘peak smartphone’ – the peak level of usage.

What does this mean for the highly valuable property transaction?

In the proptech space, these digital user experiences are delivering transparency and driving conversion in the real estate market. 

RESO is a perfect example of this.

 The simple and efficient online tool is supporting agents to seamlessly manage sales by capturing all buyer details, their offers and conditions, from the first contact, right through to contract completion.

RESO CEO Kate Chalk says vendors and buyers want instant, transparent and simple property transaction processes from beginning to end.

“Reducing administration costs and time delays and boosting transparency can only increase the value and level of customer service in what is generally the largest transaction of a person’s life,” Chalk says.

“RESO has been designed with feedback from the real estate industry to deliver to changing consumer expectations and a heightened need for speed and transparency.”

RESO now has more than 170 agents registered on the platform and is managing hundreds of properties being listed every week.

While RESO is leading the way in property transaction transparency there are also a number other proptech start-ups working on improving efficiency and transparency in other ways.

Researcher, presenter and property marketing expert, Kylie Davis,has written a blog post about 4 Proptech Innovators Creating Transparency In Real Estate Negotiations and included RESO.

“Four Australian proptech startups have introduced ways to improve communication around buying, and make the process more transparent,” Davis says.

You can read her blog post here and to see how easy RESO makes managing offers, conditions and contracts online – anywhere, anytime – the following video takes you step-by-step through the process……

RESO.com.au will help you achieve great results, so for more information please give us a call on 1300123091 or email info@reso.com.au