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Domain has launched a new feature that’s set to see house hunters given early access to properties that match their search criteria before they are listed.
Domain’s new off-market property alerts come as the group looks to capitalise on the vast competition playing out in Australia’s property market, with regions such as greater Sydney seeing interest from high-intent buyers for houses, up more than 27.5 per cent compared with the same period last year, according to Domain’s Buyer Demand Indicator.
The new function works by allowing users in Victoria, NSW and Queensland to sign up and create a property alert via Domain. Users can import what they’re looking for and gain access to information about off-market properties via email and app notifications before they become officially listed.
“Off-market property alerts address many of the common pain points buyers and sellers face throughout the traditional property journey,” commented Jason Chuck, group director, consumer, at Domain.
“Too often, buyers miss out on properties they love. Off-market properties give buyers a competitive edge by helping them get in early. Buyers can preview, inspect and make an offer before other buyers.
“For sellers, it removes the down time between when your property is signed with an agent, and the weeks before it is officially listed. Instead of waiting weeks until the paperwork, marketing and photography is ready to officially list, you can start reaching high-intent buyers within days and often hours from signing with an agent.”
Mr Chuck said the new feature comes at an opportune time for buyers.
“The last six months have brought with it unfamiliar territory, and while COVID sent buyer demand into hiatus, activity from people likely to buy has rebounded in all capital cities apart from Melbourne. In fact, it’s significantly higher compared to last year in these cities, with many looking to the outer suburban areas. Competition is tough, so any off-market edge buyers and sellers can have is important,” he said.
“We remain focused on inspiring confidence and helping Australians at every stage of their property journey. Off-market property alerts is another way we’re helping to do this, offering a new way that people can buy and sell. It’s a win for everyone.”
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.