Property platform Domain has unveiled a brand-new property tool it says will help agents build interest and demand for a vendor’s property prior to its listing.
A statement announcing the product’s launch said that Early Access matches “high-intent property seekers with off-market properties in close to 30 minutes after a sales authority is finalised and all the required documentation has been uploaded”.
According to Domain, it acts “as an additional touchpoint to the traditional sales process” — removing the downtime between when a property is first signed with an agent and when it is listed.
Available to agents of Domain across Victoria, NSW and Queensland, Early Access allows agents to create an alert “by simply adding the property address, price, a short description and completing a few additional fields online”.
The alert is then matched and sent to high-intent property seekers who have indicated an interest in similar properties in the form of an off-market property alert.
It works by scraping data already available to Domain, and will allow agents using the platform to “access active, high-intent property seekers beyond their own existing database”, according to Domain Group commercial director Tony Blamey.
The property platform hopes the new tool will “drive competition, build early momentum and test market interest”.
Mr Blamey said one of the consistent challenges that’s been noted by agents recently is how they can market properties faster.
“Early Access brings forward demand for a property to the very day the vendor commits to their selling agent to put more momentum behind the property from the very first step of the selling journey,” he stated.
According to the director, “Early Access helps agents market properties more efficiently to reduce days on market, enabling more sales cycles each year”.
He’s also flagged the tool will help agents and vendors “gain good-quality price feedback in uncertain times by instigating high-intent property seeker interest early”.
“These insights then play a crucial role in understanding the market conditions to inform the broader marketing campaign once the property is officially listed,” he added.