Sydney developers have found innovative ways to reach buyers and sell off-the-plan apartments and house and land packages, despite social distancing measures, border closures and economic uncertainty for much of 2020.
Leading Australian proptech company DisplaySweet has played an integral role in assisting developers through the year, providing a remote sales presentation platform when face-to-face inspections have been limited and sales galleries closed.
By fast-tracking its new platform OpenPlans, dozens of developers have been able to continue selling off-the-plan property remotely, allowing prospective buyers and new leads to explore properties at home uninterrupted.
DisplaySweet Co-CEO John Paige said it has become a natural adjunct to the existing DisplaySweet sales gallery technology as a way for developers and sales consultants to reach consumers before and after they inquire on a project.
“We fast tracked the release of OpenPlans to help our clients keep selling during the restrictions but this was never meant to be a once-off. We specialise in enhancing the consumer experience with technology but we’ve always done that within a sales gallery setting. OpenPlans is an entirely new way of approaching how you interact with buyers outside of the display,” Mr Paige Said.
OpenPlans is a web-enabled platform allowing sales teams to present projects online using video conferencing software of their choice. It showcases all sales and marketing content, including interactive 3D buildings, masterplans and floor plans with live property data availability and the option to integrate with a team’s preferred CRM system. Buyers also intuitively explore the project in their own home, in their own time and in their own language.
DisplaySweet, which was launched six years ago, is the leading new sales gallery technology in Australia. The platform rolls out across a variety of immersive sales gallery experiences from touchscreens to life-size projected immersion rooms and interactive digital masterplans.
“Figures show by enhancing the buyer experience there is an increase in conversion rates. When you combine the power of an incredible consumer experience within the sales gallery and then extend it to the buyer when they’re at home, you add value to far more of the sales journey and naturally get better results,” Mr Paige said.
Despite government restrictions on open homes and inspections, Sydney-based developer Crown Group, which has used DisplaySweet across its Sydney projects including Mastery and Eastlakes Live, announced $63 million worth of luxury apartment sales including three penthouses, in February, March and April.
Sales technology by DisplaySweet for Crown Group, Mastery
Crown Group director of sales Prisca Edwards said in May that some segments of the luxury real estate market were exceeding expectations, particularly for completed products, and predicted that off-the-plan sales would be the next to pick up.
“People are seeking the certainty and security of property right now and those with some capital are prepared to secure it,” she said.
Crown Group adopted OpenPlans for remote presentations and as a way to introduce customers to their developments in tandem with DisplaySweet in their sales galleries.
“We have seen the innovations we rolled out really pay off,” Ms Edwards said.
“We have had a huge level of interest. Our online enquiry and web traffic increased to their highest ever levels. We expect that to continue even once displays reopen – we’ll keep using those tools because they actually lead people to come in and see the homes in person. It’s now part of the sales journey.”
The platform is now used across Australia, Asia and in the UK, where innovative UK developer A2 Dominion Group used DisplaySweet to provide an end-to-end sales solution for Wyndham Studios in London’s Camberwell.
DisplaySweet technology for A2 Dominion Group in London
The onsite installation was successfully completed in early June by one of DisplaySweet’s international installation partners and the DisplaySweet team provided Wyndham Studios’ sales and marketing team with virtual training and support as they showcased all aspects and features of the 58 design-led residences and managed buyer communication from within the one platform.
More than 25 per cent of apartments sold within the first two weeks of launch, as buyers explored interactive maps and a 3D model within the DisplaySweet app.
Most recently, prestige developer Thirdi Group took its highly anticipated luxury Kurraba Residences on Sydney’s Lower North Shore to market using DisplaySweet and in the second week of November sold 16 of the 24 apartments on launch.
Selling agents CBRE Residential’s Ben Stewart and David Milton achieved an average sale price of $6 million on the day with negotiations continuing on the remaining apartments, including the penthouse.
The appetite for DisplaySweet and OpenPlans technology continues to grow with the company having its most successful year to date, launching more than 25 developments in the December quarter.
“Social distancing measures and border closures have made it tough for everyone this year. This pandemic forced us to change how we communicate with each other, even my mum uses Zoom now. Real Estate and how we communicate in general has evolved and it will become permanently more virtual and that’s a good thing. Those who embrace it will do well. Enhancing the buyer experience increases your sales conversion rate, regardless of market conditions,” Mr Paige says.
Crown Group, Mastery, Interactive Model