A better way for Buyers & Sellers...✅
What if there was a better way to transact real estate? We may have created it.
The draconian methodologies of Real Estate, especially in Queensland, have proven to be quite prohibitive and restrictive at times for either side (and often both), of the real estate transaction. Let's look at our two most common methods, being, Private Treaty and the 'Dreaded Auction' and then let's discuss how we are reinventing them.
Both have been designed to apply as much pressure as possible on both buyers and sellers to rush through a decision that can and, in many cases, will shape the rest of their lives. This is nonsense, and I am 100% an advocate of people making better decisions when they are well informed. To have time to consider their position, and then the process to make the offer, is both quick and professional.
Let's talk Auction first...
For buyers to be expected to be at a particular place at a specific time with a briefcase of cash and no Building & Pest reports as a safety net can, in many cases, be deemed inappropriate and too pressurised. I have two businesses, two kids and two dogs, timing can at times be challenging due to many unforeseen circumstances, it is just life.
What we have created with our Hybrid Auction functionality: a date for the property to be sold, buyers can go into the online portal and make as many offers with or without conditions as they’d like, up until the end of the set date. The property is open for viewing via private inspections and open home inspections to work around the buyer's schedule. (example of the sale of 79 Bollard Circuit).
Suppose a buyer is interested and wants to make an offer. In that case, they can do so immediately and from anywhere using a smartphone, tablet, PC, anything with internet basically, even your smartwatch.
The buyer can make an offer based on their terms and conditions, typically finance and/or building & Pest, maybe even subject to sale (which can potentially weaken an offer); this offer, when made, goes straight to the owner in real-time, no more agent games. The owner can decide on the spot as to whether they take the offer; it does not need to run through to the auction deadline; sounds better for both sides, right?
And Private Treaty...
OK, so in this case, a buyer has seen a property, likes it, and wants to make an offer (I have done this in the last two weeks, and the agents still haven't responded to my offers).
The property has a price or an interest offer indication or similar, so there is a guide around the price expectations of the seller; now let's be mindful that a seller never really knows the true market price of a property until the market comes to them by way of an offer or multiple offers.
So two different buyers make an offer and both sit anxiously waiting to see if their offer has been accepted, declined or countered. And they wait. And wait....nothing.
Of course, the sales agents call the winning bidder and congratulate the buyer and whizzes round to their house in their rented European sports car and suit to fill in the paperwork. The other buyer sees the sale price published in a few weeks and says, I would have paid more. D'Oh!
Using our real-time offer functionality backed with our easy-to-use support systems to execute contracts, collect deposits etc, we deliver transparency on submitting offers on Private Treaty campaigns so the buyers can see where the bid is at and make informed decisions as to whether or not they want to participate.
The owner has real-time information on the offer status and chooses the offer that is most suitable for them; for example, an offer may be slightly lower in price but is unconditional, so the seller decides that the lower risk is worth something to them in $ terms. So a win can be had for buyers and sellers, and transparency is achieved in real-time. Great, right?
Who the hell are we?
Our Vision: Why we get out of bed each day
- To be unlike any real estate agency in the country
- To use technology to completely change the way people buy and sell homes
- To champion change throughout the industry
- To put customer satisfaction at the centre of our business
- To become the benchmark for professionalism and standards
- To establish ourselves as an authority on real estate
- To become a trusted presence across the Australian real estate landscape
How we plan to achieve our vision
- To build a team of highly experienced and respected people who cut through all the usual estate agency bullshit.
- Utilise and develop intelligent technologies to provide support
- Systemise and automate as much as possible
- Lower the cost of marketing for all home buyers/sellers
- Develop stronger relationships with the best builders and developers in the land
- Scale nationally using the best technology, systems and people
- Establish our brand as the future of the real estate
Our Mission:
Our mission is to provide an innovative, personable, and efficient property service on the Gold Coast.
We are Smyth Real Estate.
We look forward to helping you achieve your property market objectives.
