Thursday, May 03, 2018

Driving change in real estate tech

Over the past four years, Suzannah and Genevieve have been building the next generation of real estate technology. They've put a great deal of smarts and money into developing new tools never seen before in the real estate industry. We call it ToopTech. 

ToopTech allows buyers and sellers as well as landlords and tenants, to be able to transact using large completely up-to-date managed data sources - utilising proprietary software developed right here in Adelaide. Toop&Toop has received national accolades for our work in the technology space by setting new standards and essentially re-inventing real estate. 

ToopTech, which includes tools such as the ToopVault and ToopFIX is world-class technology that has been in play in South Australia for more than two years now. It looks like it may be more of a disrupter technology. As an industry, we have been stuck in the dark ages. We believe we need to improve our ways, and as agents we should step up and provide more to our clients. At Toop&Toop we are delivering on this promise.

While the industry gets their heads around what's happening, we are working on the application of artificial intelligence and robotics in order to reduce costs and improve results for Adelaide property sellers, but also for Adelaide landlords. 

With ToopTech, we keep it simple. To understand all the moving parts (all the functionality) is cool, but not necessary. For our team, they don't need to know all of the back end, they just need to know how to use it for our clients. The average home seller only needs to see the outcomes. Here is the punch line believe it or not: "Better, cheaper, faster, more compliant and yet more personal than ever before."

Suzannah has launched her own technology company this year as we continue to invest in the ongoing development of ToopTech, for those that have a few hours, our IT team would welcome you to visit our Innovation Lab in Norwood. It's impressive and we are getting visitor clients from all over Australia these days. Today, we are selling ToopTech in the space of property management solutions to Property Management agencies from around Australia. 

It's a whole new world out there and the technology changes are just getting started. Some people get frightened of all of the 
changes coming, we get energised. Everyone 
is talking about it, we are doing it.  

Thursday, April 26, 2018

‘Off-market’… the new buzzword.

There is a lot of media attention around off-market sales in real estate at the moment. For Team Toop, this 'off-market' trend isn't new to us. Proprietary smarts and database technology has allowed Team Toop to take off-market selling to all new heights.

Databases are talked about in real estate constantly, however unfortunately not everyone in our industry truly understands how to operate a database and how to unlock its serious power. Our six full time software engineers have a full understanding of how these work and their importance to maximise service levels offered to both sellers and buyers... and the results are incredible!

Our ToopVault is proof of this! ToopVault is what we like to call, our buyer bank, and has been growing exponentially since its inception. It's the chance for serious buyers to see Toop&Toop properties prior to reaching the market and has been extremely successful in marketing and selling clients' properties.

We sell properties every week through the ToopVault, saving our clients' valuable time, hassle and marketing costs. Apart from this, we're also helping buyers finally get ahead of the competition and purchase their dream property. It's a win-win! 

In our business alone we could quote a range of different database numbers. Our master database of 180,680 people is considered in itself impressive, from a pure numbers point of view. However, the question that first comes to our mind is... so what? This number is just a number, unless it delivers actual tangible results to sellers and value to buyers.

ToopVault, our specific database of more than 12,000 active buyers, is growing by over 150 members a week. Why? Because people currently in the market for property recognise that it is adding genuine value to them as buyers. It's a free service where users hear about our Toop&Toop properties before the public and have the ability to refine their search criteria, view on any device and choose how often they receive property alerts.

As a result our clients' homes are the winners!

So far this financial year, ToopVault has sent out 744,596 Vault email alerts to our buyers... that's 2,039 notifications per day! To buyers who actually WANT to hear from us. We've also had over 75,000 clicks through to our clients' property web pages for more information, wanting to see the full descriptions, floor plans, photos and videos of our clients' homes.

Want to find out more about our ToopVault?
 Be sure to give us a call.

Thursday, April 19, 2018

Opportunities for landlords in 2018

With the current market as it stands right now, we believe there is great opportunity for investors to buy their first property or grow their portfolio. 

As we head into the second quarter of the year, we think units are certainly the ones to watch. Whilst house prices recorded a slight decline (0.4%), the average price of units across Adelaide rose. 

We believe the popularity is due to their affordability. Units open up locations that may not have been previously available to purchase in, giving investors more choice. Tenants also certainly enjoy the low maintenance that these properties offer. The lower price point for units, particularly in the eastern suburbs and off the back of an incredible year of growth for houses in 2017, is the key driver here. 

You can pick up a unit in sought-after suburbs such as Norwood, Kensington and Toorak Gardens for around $350,000, whereas houses in these areas can have a median house price as high as $1.4 million. This vast difference in pricing is creating huge opportunities for landlords looking for increased cash flow and higher yields (as opposed to high capital growth). Tenants love being so close to the action, and those units that have a fresh feel with modern amenities aren't staying on the market for long. Tenants will pay a premium for location, convenience to the CBD, and if local shops, schools and cafs are close by. 

Unlike other capital cities, units in Adelaide have not kept up with the same pace as housing growth in the past 12 months. This is where we see the opportunity lies.

Whilst the first quarter of property results show that the 9% growth predicted for houses may not be on the cards, units are a different ball game. Tim Lawless, Head of Research at CoreLogic RP Data, describes Adelaide as a steady and resilient marketplace despite a national slowdown over the first quarter of the year. 

We see the opportunity for landlords to make the most of the current market, with units as a potential front runner. If you want to find out where we are seeing the best investment opportunities in the state or what property types are providing the greatest returns, please give our team a call today. We'd love to chat with you and share what we are finding out in the field!

Thursday, April 12, 2018

What’s trending in our market right now?

How’s the market? This is one of the most common questions our team is asked out on the ground each week. Real estate is a hot topic and people are eager to know what’s happening in the market, what their property might be worth and how house prices in their suburb or city are performing. Staying up to date on property market trends is key to knowing when it’s your time to make a move. 
Team Toop has just released our latest Quarterly Property Report and we cannot believe how quickly the first quarter of 2018 has passed us by. With Mad March, Adelaide500, WOMADelaide, the State Election and Easter it has been a busy start to 2018. Throughout the start of the year we continued to see low stock levels in the property market creating a real urgency for buyers.

Looking to the national market... according 
to CoreLogic RP Data, trends across the March quarter showed that capital city home values were 0.9% lower over the March quarter, while values across the regional markets have tracked 1.1% higher. CoreLogic’s Head of Research 
Tim Lawless states that the Australian housing market is currently showing every sign of recording a soft landing after national dwelling values peaked in September last year. 
Despite a slowing property market, the vast majority of home sales (nine out of 10) in Australia are still turning a profit for their vendors. Across the nation, 91.1% of all properties that resold in the December quarter went for a price above their previous purchase price. 
Back home... it’s been a slower than usual start to the year for Adelaide’s housing market, with home values making a slight drop of 0.4% for 2018’s first quarter. 
These stats were quite surprising to us and our team, given analysts at the start of the year were predicting up to 9% growth here in Adelaide for 2018. However, Head of Research at CoreLogic, Tim Lawless described Adelaide’s performance this quarter as “flat rather than falling”, given previous months had shown minor growth.

Despite this slight drop in values, interstate demand for Adelaide properties remains at an all-time high, spurred on by affordability and higher yields than those on offer in the eastern states. data shows more than 4.6 million property seekers from Sydney and Melbourne eyed off Adelaide properties in the last 12 months, 9% more than this time last year.
The Adelaide suburbs where homes have been selling the fastest include, North Adelaide, Unley and those on the inner-city fringe. Our lifestyle suburbs along the coast such as Glenelg and Henley Beach, and in the Hills, such as Stirling, 
are also proving popular with buyers. 

Adelaide still remains a steady and resilient marketplace despite a national slowdown, and we are looking forward to seeing what the next quarter brings. If you have any questions about the market or would like any additional information specific to certain areas or suburbs, please feel free to contact myself or anyone from Team Toop!