REA home buying tool reduces stress of one of life’s biggest decisions
PARTNER CONTENT: Australia's leading property site has unveiled a new tool that instantly tells buyers if they can afford a home, removing uncertainty from the househunting process.
From its humble beginnings in a suburban Melbourne garage in 1995, realestate.com.au has grown to become Australia’s largest and most trusted property resource – visited by more than 12 million Australians every month.
REA Group chief product and audience officer Jonathan Swift said it was far more than just a buying platform, offering advice and insights for sellers and renters too.
This article is part of the Back Australia series, which is supported by Australian Made, Harvey Norman, Westpac, Bunnings, Coles, TechnologyOne, REA Group, Cadbury, R.M.Williams, Qantas, Vodafone and BHP.
He said more than four million homeowners actively tracked their property’s value on realestate.com.au to determine the best time to sell.
The platform also offered other valuable selling insights, such as reviews and performance results for property agents to help vendors decide who to engage to secure the best sales price.
Constantly evolving to meet the needs of buyers and sellers, realestate.com.au took its responsibility to Australians seriously, Mr Swift said.
“Australians hold us in high regard, they trust what we tell them, they trust how we use their data and we work to ensure we maintain that trust,’’ he said.
“Buying and selling a property … is the most emotional, high-stress decision you are ever going to make. But realestate.com.au is that companion, that trusted adviser, to make it a little easier.’’
As Australia’s number one address in property, realestate.com.au is doing the math for homebuyers and removing the anxiety about what they can afford to buy.
REA Group’s online platform provides free, personalised calculations on whether listings are within an individual’s buying capacity, based on their income and expenses.
Using current interest rates, the affordability calculator, which appears on every listing, even those without an advertised price guide, allows buyers to select their preferred loan type before determining whether a property fits their budget.
Mr Swift said the calculator – one of many tools available on realestate.com.au to assist buyers – removed much of the worry about purchasing a home.
“Tools like this on realestate.com.au help to build (buyer) confidence,” he said.
“They help you build a little bit more of an understanding of the process (of buying property) and they give you access to the information that takes away a lot of worry and uncertainty.’’
With more properties for sale than anywhere else, Mr Swift said realestate.com.au could also put forward other suitable listings that matched a buyer’s preferred location, house type or price range.
He said those who used the suggested property feature, which applied filters and information gleaned from an individual’s previous real estate searches, viewed three times more listings than those who didn’t use the suggested properties feature.
“It gives (buyers) new suggestions, such as new areas (suburbs within their price range) that they may have never considered,’’ he said.
“Just by saving a property that you like (using the clickable button on each listing), you are teaching us what types of properties you are interested in and … helping us to find others (suitable to your needs).’’
Once buyers had identified suitable listings, Mr Swift suggested they go to property.com.au – a companion site to realestate.com.au – to further research the address and gain information, such as bushfire, flood and heritage overlays, school zones and internet and mobile phone coverage.
“Buyers are more informed than ever before yet they’re telling us they want more information,” he said.
The realestate.com.au site continues to invest in new features that help buyers on their property journey through more personalised and immersive experiences.
“We recently launched a new video discovery hub on the homepage that is designed to engage consumers and inspire deeper discovery. For us, immersive experiences like video and 3D tours are about creating more opportunities for consumers to learn about aproperty and feel confident to make informed decisions.”
This article is part of the Back Australia series, which is supported by Australian Made, Harvey Norman, Westpac, Bunnings, Coles, TechnologyOne, REA Group, Cadbury, R.M.Williams, Qantas, Vodafone and BHP.
