Promoted by Domain
Hocking Stuart has always been ahead of the curve when it comes to trends in real estate – one of the first agencies to publish its listings in a magazine format, one of the first to conduct auctions on Sundays, and one of the earliest adopters to recognise the power of the internet and launch the then-cutting-edge online property alert in 2001.
When Hocking Stuart’s Director Joe Ledda started noticing off-market listings growing in popularity, he knew they needed a better solution to support their existing database.
“As good as our database is, it’s not real-time data. There’s new people entering the market all the time, and you don’t get them until you actually make contact with them, whether it’s through an inspection or an inquiry.”
Never ones to be satisfied with the status quo, Ledda and the Hocking Stuart team went searching for a new solution.
“I like to do things differently and try to keep ahead of the game as much as I can. We’re always looking at what new solutions are out there and if it looks like it’s got potential, we’ll go for it.”
Domain’s Early Access tool was exactly what they were looking for, giving them the ability to match their vendors’ properties with high-intent buyers across the nation who are actively searching for similar properties.
“There was nothing in the market we’d seen that looked as good as Early Access.”
Tapping into a qualified buyer pool
The fact that Early Access provided Ledda and his team access to a pool of high-intent buyers searching for homes similar to his vendors’ properties was a key selling point.
“They’re qualified buyers who are actually looking for a particular home. That’s why it was so attractive.”
As early adopters of Early Access, Ledda admits he was initially cautious about the results.
“We weren’t sure how it would reach the market. We were told that it would capture people who were inquiring on similar properties, but I wasn’t sure how it was going to work.”
Once they started using it, the benefits were clear.
“Early Access helps us reach buyers we haven’t been able to reach before. We’ve used it on four or five properties so far and one of the properties received 10 inquiries, and that’s even before it got listed.
“Without Early Access, it was hard to try and capture all the buyers who were looking at that particular time.”
Easing vendor concerns during COVID-19 crisis
Ledda says Early Access can help alleviate common vendor concerns around low buyer demand, which have been particularly strong during the COVID-19 pandemic.
“It really opens up a discussion around demand, allowing you to say, ‘Let’s see how many buyers are out there before we actually go and market it’.”
The current restrictions in Victoria have meant the Hocking Stuart team has not been able to use the tool as much as it would like, but once restrictions ease the team is planning on utilising its full capabilities.
“We have a lot of properties that we’ve signed up but aren’t ready to be marketed because of the pandemic, but we’re planning on using Early Access for all our listings. As soon as we list it, our first stage will be to put it on Early Access and see what the feedback is before we start a full marketing campaign.”
Inspire vendor confidence and get access to high intent buyers. Discover what Domain Early Access can do for your agency.