THE NEW DIGITAL AGE
THE FUTURE OF BUYING AND SELLING PROPERTY IS QUICKLY MOVING BEYOND GLOSSY BROCHURES AND SLICK-SUITED AGENTS BELTING ABOUT IN 3-SERIES BMWS. TAKE A PEEK AT WHAT THE DIGITAL FUTURE HOLDS.
In clinging to old-school practices, like agents and a standard 2.5 per cent commission, the real estate industry can seem like a smoking volcano of digital disruption, set to go Mt Vesuvius at any moment. Andrew Winter is not sentimental when it comes to the industry’s workings. With TV shows like Lifestyle’s Selling Houses Australia established as a national guilty pleasure, he’s become a familiar voice in the world of armchair real estate. “The product won’t change but the process will,” he tells GQ. At a glance, here are some of the players driving innovation.
1 buymyplace.com.au An online sales portal that doesn’t use agents or commissions, potentially saving you thousands. No experience? No problem.
2 purplebricks.com An online listing and sales service set to launch later this year. It spruiks itself as, ‘The world’s first 24/7 estate agent.’
3 Virtual Reality Already worth $1.7bn*, and estimated to triple by 2020, VR’S used by industry giants like Metricon, while REA Group has invested heavily in the new technology. “We’re going to see more VR in the way homes are sold in the future,” says Winter.