Disruption, what does it mean? Does disruption signify one big, significant event that catalyses change or is it more of an ongoing process? And what does it mean in the context of the property market?
Is there another potential property bubble looming and are we talking about stopping it dead in its tracks? Does disruption involve boosting the volume of new builds to meet increasing demand? Is it time to cut out the middlemen?
Can we eliminate the scourge of extraneous fees?
Last year the census revealed a 2% increase in the Irish population. Our population growth is one of the highest in Europe, in fact. According to Goodbody Stockbroker’s chief economist, Dermot O’Leary, on top of population growth, we’re seeing a pickup in the labour market. “The ongoing growth has led to increased flows of migrants in this country. That’s leading to high household formation and thus, a stronger demand”. People need houses and they’re in a good position to invest. The time is now.
A fistful of euros
Which factors are deterring most sellers from putting their properties on the market? And when they do, what’s preventing them from getting a fair deal? If time is money, then we’re racking up some serious hours on house prices.
Most people are willing to invest a little extra on getting their house up to ‘show’ standard but finding it hard to justify paying an excessive fee to a property agent. Yet traditional property agents continue to hold the upper hand in the housing market, maintaining the majority of the market share. And most of them charge a hefty sum.
In Ireland, you can expect to pay between 1 and 2.5% towards an agent’s fees. According to the Daft.ie, the average asking price for a house in South County Dublin currently sits at about €563,000. An agent’s fee of 2% would amount to €11,260 (not to mention VAT @ 23% and the marketing costs on top of that!).
Terms and conditions do apply
We’ve all been drawn in at one time or another by a too-good-to-be-true offer. Often the flat rate promised by a traditional property agent can come with several asterisks. Terms and conditions do apply and they’re not always easy to see in the fine print.
The traditional property market frequently comes under fire for lack of transparency when it comes to hidden costs including things like online and print advertising and professional photography. Agent’s fees can vary depending on location, the season and the amount of time likely to be invested in the sale but this is not always clearly stated at the beginning.
The times, they are a-changing…
…and industries and companies need to evolve with them or, face extinction. Property is one such industry that has long been in danger.
Utilising customer relationship management data (CRM) is essential when dealing with high value assets but it’s still not employed across the board for real estate agents. Sellers are often faced with archaic practices that don’t meet the needs of their potential buyers.
Most property agents only operate within normal working hours. It’s inconvenient to buyers and sellers who often have to make an appointment to see the estate agent during working hours. The nature of digital property agencies, however, means information is available 24/7. The online world offers an opportunity to engage in an ongoing dialogue with customers so they’re getting more bang for their buck.
Moovingo assigns a dedicated property agent to customers – this is where the real work starts. To begin, they will organise professional photographers to showcase your home in the best possible light and make that all-important first impression a positive one.
These pictures, along with the property’s finer details, will be uploaded to Daft and My Home. Backed by a strategic digital campaign, covering social and online marketing, Moovingo will situate your home, front line and centre of the property market – prime real estate for selling.
40% of Irish people check their phones within 5 minutes of waking. It would be remiss to ignore the influence of smartphones hold over our everyday lives and Moovingo understands the great opportunity that a mobile-first strategy holds.
The website is quick, easy to navigate and works efficiently across mobile, tablet and desktop alike. Real-time data is available from one centralised hub – customers can view updates on their property’s progress on their easy-to-use personal dashboard.
Of course, we also recognise and value face-to-face interaction and as such assign a dedicated agent to work closely with customers on their properties.
Save time, money and hassle when selling your house.
Be smart with that smartphone and get on to Moovingo now.