As the Australian property sector grapples with the restrictions of COVID-19 and social distancing requirements, tech-savvy property developers are utilising innovative technologies to continue to market and sell off-the- plan real estate.
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Developer Multipart Property last week did a virtual launch of its new $120 million Bowline luxury waterside development at 10 Dangar Street in Wickham.
In what is believed to be an industry first for the off-the-plan sales market, the 14-level Bowline was launched using Immex, a new virtual display suite platform.
Potential buyers have complete unrestricted access to a 3D model, can shortlist favourite apartments and correspond directly with the agent, as well as inspect individual apartment floorplans and view corridors.
Multipart Property's development manager David Desson said the technology allows for a "business as usual mentality in what is a very unusual time".
"Our move to prop-tech has been consistently evolving and, with the rapid escalation of COVID-19 effectively changing residential real estate marketing overnight, we were very fortunate that we had the foresight to introduce these online selling approaches prior to COVID-19 becoming a truly global challenge," Mr Desson said.
Created and powered by Immex Group, the Immex online, off-the-plan sales portal replaces the traditional display suite's building model and static images of floorplans and views to deliver a totally digital buyer- oriented sales journey.
Immex founder James Byrne said the applications of Immex were vast and extended to a complete online real estate transaction with the ability to exchange legal contracts and make a deposit.
"Immex is a game-changer for off-the-plan residential real estate, especially in the current climate," Mr Byrne said. "It is effectively a virtual display suite. While the platform is online, it is also interactive and can be accessed on any computer or mobile device but also via touch screen in a real estate agency or sales office. Bowline is the first apartment project to use the Immex platform and in a short time it's already proven an invaluable analytical tool for agents."
Ryan Houston, partner of PRD New Projects who are the sales agents for Bowline, said buyer feedback to the digital technology "has been phenomenal".
Sales in the development so far have included $1.5 million for a three-bedroom penthouse.
Bowline will be built adjacent to the new Newcastle Interchange on the site of the former McCarroll's car showroom. There will be 97 apartments in total - a range of one, two and three-bedroom configurations with prices starting from $465,000. On its lower four levels will be offices and retail spaces.
