Powered by MOMENTUM MEDIA
realestatebusiness logo
Home of the REB Top 100 Agents

How to tap ‘the promising realm of off-market properties’

By Grace Ormsby
28 June 2023 | 10 minute read
kent lardner suburbtrends reb lpa95u

Agents are being empowered to break down the barriers against selling in some of Australia’s toughest markets, thanks to a new artificial intelligence-powered tool.

Suburbtrends has introduced a ‘Suburb Secrets’ off-market search tool, which purports to present agents with properties mirroring recently listed or sold ones, curated from properties that have been owned for at least a decade or more.

Suburbtrends founder Kent Lardner said agents operating in some of the tightest markets when it comes to stock on market “need to strategise and be proactive”.

“To assist them in this endeavour, we’ve developed ‘Suburb Secrets’, an AI-powered tool that delves deep into the promising realm of off-market properties.”

“With the focused targeting of our new tool, we aim to uncover off-market opportunities and boost agents’ success rates,” Mr Lardner explained.

Calling it a “potential game changer”, the founder added the variations across suburbs present unique challenges and opportunities that can be harnessed by agents.

“Our ‘Suburb Secrets’ tool empowers agents to navigate these landscapes with renewed confidence, unlocking hidden potential that might otherwise go unnoticed,” he opined.

The introduction of the AI tool comes after Suburbtrends unearthed “Australia’s most difficult suburbs for property listings”.

Scrutinising the average stock available on market over a three-month period across suburbs with more than 1,500 occupied dwellings, the research identified a number of suburbs that would be causing grief for agents, including Port Pirie South.

According to the research, the South Australian suburb has the least number of homes available on the market, averaging just 0.07 per cent.

Other suburbs to make the list include NSW’s St Clair and Hillvue, while Victoria’s Croydon Hills and Gladstone Park are also seen as challenging areas when it comes to supply.

How to tap ‘the promising realm of off-market properties’
kent lardner suburbtrends reb lpa95u
lawyersweekly logo

ABOUT THE AUTHOR


Grace Ormsby

Grace Ormsby

Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.

You need to be a member to post comments. Become a member for free today!

Comments powered by CComment

Do you have an industry update?