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Real estate marketplace ListingLoop.com.au has launched a new referral program that will see brokers provide clients with up-to-date property information on all available properties, including off-market sales.
A survey of 50 local real estate agencies found that around 30-35 per cent of all residential sales transactions occur off-market, meaning there could be a large proportion of homes that buyers may miss out on.
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As such, the ListingLoop website alerts buyers in real time if a property comes available, either on-market or off-market, that meets their home buying criteria.
According to the service, finance brokers Australia-wide have signed up to test the service along with its broker referral program, allowing brokers to better service their clients, and potentially providing brokers with a new revenue stream.
ListingLoop.com.au CEO Rhett Dallwitz said: “More than ever, customer service initiatives that go over and above are truly standing out. Finance brokers can offer their clients tremendous convenience and value by gaining insider access to all the latest new listings.
“It’s a great touch point and reason to connect with clients while supporting them in their home-buying journey,” Mr Dallwitz said.
“In addition to offering clients’ exceptional service, finance brokers can also get paid for minimal work and effort,” he added.
By referring a client to ListingLoop.com.au, a broker can earn 25 per cent of the property advertising fee, which is 0.22 per cent of the total sale price of a property.
If a broker invites a client to the platform, they are then linked to that broker forever, so each time that buyer purchases property through the platform, the broker gets commission.
A ListingLoop representative said: “In this heightened digital world, intelligence tools are generating deep consumer insights helping to orchestrate first-class experiences that are personalised and tailored.
“Finance brokers should take advantage of the knowledge and speed that technology offers to deliver best-in-class service for their clients. The added benefit is that they can make an additional income stream without a lot of extra work.”
[Related: Brokers diversify income as EOFY looms]
