Over the last two decades, industries of all kinds have experienced technology-led innovation and disruption on a grand scale. While examples like Uber, Carsales.com.au and Booking.com have all become so familiar to us now, these were groundbreaking advancements that drastically altered consumer expectations, and how industries operated.
Convenience and efficiency are the key drivers of these changes, which enable consumers to access far greater transparency and visibility through real-time data and the democratisation of information.
But while travel, taxis and selling cars have all been transformed by these centralised platforms, the Greenfield property industry has been immune - until very recently with the launch of LandNow.
So how would a centralised platform bring together buyers and sellers in the land industry?
On the Landnow platform, this includes being able to see available stock in real-time, along with accurate descriptions and relevant documents - rather than waiting for a sales representative to phone back with this information, which can create bottlenecks in the customer experience.
From an efficiency perspective, this dramatically speeds up the end-customer's purchasing journey.
Through the builder or developer, they are dealing with, all parties have access to quick, accurate information in real-time, as they don't have to wait to see if a lot is available or for a land representative to follow up with other potential buyers before phoning them back. This greatly improves the buyers experience with both the developer and the builder.
Additionally, it increases trust by offering home buyers real-time data that provides greater confidence. House and land purchases are large, expensive, and involve a lot of emotion, so having accurate and current data keeps customers informed and in the loop. If consumers feel comfortable and are given accurate data and the correct facts, they will form trust and are far more likely to convert through those large buying decisions and make a purchase.
These innovations will further improve the relationship dynamic between salespeople and buyers, and similarly between builders and developers.
Salespeople are no longer required to engage in mundane admin tasks such as hard copy pricelists or emails full of attachments.
Buyers are already able to view up to date photos, product specification and pricing comparisons which saves everyone time within the purchasing process and keeps the process transparent. This time saved can be spent nurturing trusting sales relationships between both parties, ensuring great customer service and following up where needed.
Developers and vendors can also benefit greatly from this, as the real-time data will have massive positive effects on how they view and change their sales approaches. They can adjust pricing as and when the market fluctuates by increasing and decreasing land and house prices when appropriate.
The democratisation and transparency of this information are all factors that will enhance the consumer experience, as buyers can make their own autonomous decisions. Who knows, in time it may even be possible to buy a land package completely online!