{"id":35548,"date":"2023-10-20T14:39:15","date_gmt":"2023-10-20T14:39:15","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/sydney-startup-brings-social-media-approach-to-real-estate-startupsmart\/"},"modified":"2023-10-20T14:39:15","modified_gmt":"2023-10-20T14:39:15","slug":"sydney-startup-brings-social-media-approach-to-real-estate-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/sydney-startup-brings-social-media-approach-to-real-estate-startupsmart\/","title":{"rendered":"Sydney startup brings social media approach to real estate – StartupSmart"},"content":{"rendered":"
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A Sydney startup has launched a new social network for real estate which the founder says is the \u201cmost significant change\u201d in the industry in the last decade.<\/p>\n

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Followit<\/a> is a communications platform that takes a social media approach to real estate and allows people interested in buying or renting property to follow specific segments of the market.<\/p>\n

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\u201cThis is probably the most significant change in how consumers connect with the market in the last decade,\u201d Followit executive director Michael Sheargold tells StartupSmart. <\/em><\/p>\n

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In some ways, Followit works like Facebook<\/a> with a real-time feed of updates that are customised to your preferences.<\/p>\n

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\u201cI can choose what I follow whether it\u2019s a house, street, agent or building,\u201d Sheargold says.<\/p>\n

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The platform allows consumers to select preferences for what they want, including price range, and then delivers relevant listings directly to them.<\/p>\n

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\u201cYou can be notified just like on social media,\u201d he says.<\/p>\n

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Sheargold, who is also a business coach that specialises in real estate, says this creates a completely different way for agents and consumers in the property market to connect.<\/p>\n

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An additional feature of the site is it lets people browse the market anonymously and contact agents through the messaging system when they choose.<\/p>\n

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\u201cIt\u2019s fantastic to stop searching and start following,\u201d he says.<\/p>\n

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\u201cAnd you can keep an eye on the market without being hassled by agents.\u201d<\/p>\n

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How it works for agents <\/strong><\/h3>\n

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One of the tricky things about marketing property listings is reaching an \u201caggregated audience\u201d, Sheargold says.<\/p>\n

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The aggregated audience comprises a target pool of people who are looking for assets with attributes that match an agent\u2019s listing.<\/p>\n

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Traditional property marketing – which Sheargold says is still important for building profile – broadcasts a listing to thousands of people with the hope of reaching a handful that will actually find it relevant.<\/p>\n

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Though the platform is free for followers, it generates revenue through agency fees that allow real estate agents to use its communication services and push notifications.<\/p>\n

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In addition to REA Group\u00a0and\u00a0Domain, agents will be able to promote listings through followit, which is linked to all the major customer relation management platforms used in the real estate industry.<\/p>\n

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The plan for launch<\/strong><\/h3>\n

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Followit\u2019s beta testing in Sydney\u2019s Northern Beaches now has 85% of all agents in the area using it.<\/p>\n

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Sheargold says they are using this time to make tweaks and enhance the platform before launching in new markets across Australia.<\/p>\n

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\u201cWe\u2019re not rushing it,\u201d he says.<\/p>\n

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In the same way Facebook started one campus at a time, Sheargold says his team is planning a staggered approach to hit Perth, Sydney, Melbourne, Brisbane, Adelaide and other major regional centres.<\/p>\n

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Considering that one of the key challenges will be gaining sufficient content to meet consumer demand, this will enable them to build a good product that grows as more people start using it, he says.<\/p>\n

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\u201cThe staged roll-out allows us to build traction, momentum and word of mouth,\u201d Sheargold says.<\/p>\n

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Follow StartupSmart on Facebook<\/a>, Twitter<\/a>, LinkedIn<\/a> and Soundcloud<\/a>.\u00a0<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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