The Real Estate Institute of Victoria (REIV) has teamed up with ListingLoop.com.au, Australia’s first industry buyer database, to provide a digital solution that connects buyers to properties faster than ever before. The ListingLoop approach has already proven to help agents, vendors and buyers during the Covid-19 pandemic which has impacted on the real estate industry by banning open homes and restricting private inspections.
What is ListingLoop?
ListingLoop is a real estate marketplace and Australia’s first industry buyer database where house hunters can discover new property listings tailored to their specific criteria. Real estate agents can use the website to advertise their newly listed properties before anywhere else which gives them the ability to directly advertise their vendors’ properties to interested buyers. A property listing, including photos taken from a smartphone, can be uploaded to the site in less than 30 seconds, making it fast and easy to use. There are no listing fees or subscription fees to use ListingLoop.
How ListingLoop is helping agents
ListingLoop provides agents with a detailed buyer dashboard and a recurring revenue stream. Agents receive a free dashboard which provides information on the activity of their invited buyers. This, in turn, allows agents to create additional listing opportunities, tailored to those buyers’ interests.
An agent is paid up to 50 per cent of their advertising revenue when a buyer purchases a property from within the ListingLoop network and outside of their agency. If that buyer purchases property through the network multiple times in their lifetime, the agent receives a recurring revenue stream. Should a buyer that’s assigned to an agency purchase a property from within that same agency, there is no fee.
There is also a no sale – no charge advertising approach. If the portal fails to bring a buyer to an agent, there’s no fee payable. This no-risk advertising makes it safer for agents during the current economic uncertainty. Additionally, any fee payable doesn’t need to be paid until settlement or for 90 days, whichever is earlier.
What’s in it for vendors?
ListingLoop is no-risk solution to selling a property during the current and uncertain Covid-19 pandemic property market. The site attracts ready and qualified buyers, experiencing a 23 per cent increase in buyer registrations last month alone. It also provides a financially risk-free way to list a property for sale as there is a no sale – no charge for advertising approach for both you and the agent who is required to fund the advertising. Property information is also protected, which includes your address and the sale price, behind a secure login. This information can only be accessed by registered buyers and are not visible in search engines such as Google and Bing, protecting both your and your agent’s data.
How ListingLoop helps buyers find property faster
ListingLoop provides buyers with an alternative to the traditional way of searching for a property. When you sign up to ListingLoop as a buyer, you’ll provide information on the types of properties you’re interested in. You’ll then receive a free dashboard that displays your personalised property matches, as well as real-time alerts. The moment an agent has listed a property that matches your personalised property criteria, you’ll be notified so you can be among the first to view the property.