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The listings portal says this is the most significant upgrade to its capabilities since launching its app more than a decade ago.
As the company explained in a release, the new features “enhance the consumer search experience on Domain, making crucial property and price data more accessible and improving transparency and confidence across the buyer journey”.
This is achieved through the new Immersive Sold Listings Experience, which integrates comparative, recently sold listings data into search results, to provide buyers with access to information that helps them better understand what they can afford.
According to Domain’s data, just 7 per cent of buyers currently search through recently sold properties, meaning that many are missing out on integral information to help them understand the fair price of a property up for sale.
“This is perhaps the most significant upgrade since we first launched the Domain app in 2009,” said Jason Pellegrino, managing director and CEO of Domain.
“Currently most other property search apps, solutions or experiences on the market globally prioritise a dated classifieds listing experience that was borrowed from the age of newsprint – not the needs of customers,” he added.
Mr Pellegrino said this latest update had come out of a desire to challenge the market norm, by providing a more tailored experience to users.
The firm’s chief product and technology officer, Nathan Brumby, echoed his CEO’s comments, noting that the firm had felt it important to respond to the current challenging market conditions that were causing more and more Australians to give up on their goal of buying a property.
“Home ownership is an essential part of the Australian dream. It’s the most important asset for those on the property ladder and the most desirable for those who are yet to realise their dream. Unfortunately, realising that dream is not easy, with too many Australians forced to rely on trial and error and lived experience,” he said.
Also debuting is the firm’s Dynamically Integrated Map and List View Experience, which allows buyers to toggle between listings data and a bird’s eye neighbourhood view. With a similar aim of making property information more accessible, this tool is designed to enable users to understand not only individual properties, but the neighbourhoods they sit within.
Mr Brumby highlighted that the new app experience aims to “help all buyers from lower intent to high intent buyers find a property”.
“We know that accessing and understanding price, and organising their search are the biggest challenges buyers face, and these upgrades address that. We want to help buyers better understand and explore the market, and unearth rich data and insights that give them a comprehensive and confident understanding of a property and the local neighbourhood,” he added.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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