Red-I and PropertyEngine Join Forces

Red-I and PropertyEngine Join Forces

Property development listings need to have as much information as possible in one place, and what often happens is that the majority of homes available in developments, when advertised online, are listed as a single residential listing.

This is not ideal, says Simon Comley, director of PropertyEngine, because it is not usually possible to fit the entire development’s information or units available in that type of listing, nor will it do the development justice. To this end, a service agreement has been entered into between PropertyEngine and Property24, whereby PropertyEngine feeds development information into Property24’s development-specific listing section, which is wholly unique to PropertyEngine at this point, says Comley.

RED-i (Real Estate Development Interactive) and PropertyEngine, in turn, have entered into a separate collaboration agreement allowing their development information, via PropertyEngine, to be published on Property24. As a leader in development sales information and management systems, RED-i is a rich source of content on various residential projects. “Collaboration between the companies was obvious,” says Comley.

Different Listings are Important

A single residential listing is one unit in a development, but generally developments have more than one option from which to choose. The problem here is that the house hunter will not know that. The house hunter might find a listing for a two-bedroom unit, but is looking for a three-bedroom unit — and will not know what that development has on offer unless he or she goes back to the search and goes through all the other listings in that area, which is very time consuming. The New Development Listing solves this problem by providing all the plans and information in one place.

“The attention, therefore, is being focused on the buyers’ and developers’ needs,” says Andrew Kumm, a director at RED-i. “With PropertyEngine now feeding both the Property24 and HelloHouse listing platforms with pertinent information on new developments, potential buyers have a better idea of what is on offer and the developer has a better mechanism to showcase the project.”

Developers vs Agents

“In our recent marketing efforts we’ve talked a lot about this new way of listing developments and why our clients should be publishing their developments on it. Developers tend to understand the importance of this but agencies don’t often grasp why. The reason tends to be the same; most estate agencies (at least the big ones) already have a feed to Property24, often through their own proprietary software or via PropControl. They often use this feed to publish an example unit for a development onto the site and so they feel like they already have a presence there,” says Comley.

But there is often more to a development than just the houses available for sale within it. Some developments are like whole new cities with gyms, hospitals and even top schools. The New Development Listing gives the house hunter a list of facilities available on that development, so they will be more aware of what’s on offer and if it’s suitable.

Cater by Categories

And last but not least, says Comley, is that developments are selling new houses and not previously owned ones (resales will, in all likelihood, come later), so the New Development Listing gives the user the ability to hone in on the categories they need.

“The New Development Listing space on the portals has improved dramatically, and I would encourage the marketing teams and selling agents of new developments to consider the needs of both the buyers and sellers (developers) when listing. The technology is there and should be utilised in the interests of all stakeholders,” says Kumm.

 

Contact Details

  • Andrew Kumm:  082 870 4346 or email andrew@red-i.co.za
  • Tower Property Fund:  021 685 4020.

 

Words: Andrew Schaefer, MD of Trafalgar

 

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