Kerry Dimmer
One of the newest players in the market is LOOM, a strategic real estate data provider that helps agents understand their focus areas and the properties within. Julian Scott, a key accounts manager, explains that LOOM “is a platform where property practitioners will find everything they need to stand above their competitors, through the provision of accurate data and tools that will not only bring in new stock but also guide their sellers when discussing price.”
The word LOOM depicts the manner in which the organisation weaves together data acquired from various trustworthy industry sources. Those include property shareholders and even the Deeds Offices. Once acquired, the data is “LOOM-ed” together to present a one-system-for-all opportunity applicable to a myriad of real estate movements.
It is not for nothing the company says it is effectively “Real Estate empowering Real Estate”, given its approach: Private Property, like LOOM, is part of the BetterHome family tree, and the two have affiliated alongside some other big names in the industry, to boost business opportunities for agents and agencies. “It’s a system that is driven and built by the industry for the industry,” explains Scott.
Build a portfolio
Two years ago, when LOOM was created, the traditional method of building a report or portfolio of property required an enormous amount of manpower and/or a subscription to a number of different service providers who had different offerings. The LOOM founders felt this was a massive opportunity to consolidate the data under one banner, enabling a quicker portfolio build. Scott says that with LOOM, just the single subscription translates into “less time searching, and more time selling”.
“We are here there not to break wallets but to help fill them up, and we do this through a cost-friendly subscription offering that allows property professionals to tap into our value-added and bespoke products.”
For example, LOOM offers unique features that assist real estate professionals in their day-to-day activities that you will not find on other platforms. “We have transformed the slog of finding new potential listings with tools that are easy to use and upgraded as new methods and features become available. This makes it far easier to find new potential listings and tools to assist when selling and enables price counselling with sellers.
LOOM is a very visual user experience, and its range of offerings is layered, depending on the client’s needs. That’s why Scott encourages interested parties to request a demonstration.
He can tell us that the granular breakdown of LOOM’s data, including general information, including GPS coordinates and images of a specific property and/or its suburb, to Deeds Offices and a history of registrations, is exceptionally valuable. If an agent wishes to reveal trends influencing a property or quickly determine a real-time market value, LOOM can provide this.
In Scott’s opinion, data is our era’s ‘new magic’. “It means you can make informed decisions about canvassing, listings, deeds, mobile use and lifestyles, market insights, estimates, and solar.” The latter is a unique tool that determines how suitable a property will be for a solar installation, a real differentiator for buyers (and sellers) who have a sustainability focus or wish to move off the grid.
A strong focus has also been on the subscription fee to LOOM’s service, driven by affordability, so even an independent agent will not feel the pinch. “We currently have four subscription options, and users can upgrade to a higher package whenever they need more reports on a monthly basis.
“Our most popular version is the unlimited package for R750 ex VAT p/m per branch,” says Scott. “This includes access to our mobile App, which allows an agent to stand in front of a property and build a report about it there and then. Our contact credits are once-off and pre-paid, making it easier to keep track of usage without fearing a surprise bill at the end of the month.”
This differentiator challenges competitors who Scott acknowledges as significant game-changers. “They have really made an impact in the industry and we have much respect for their contributions and their teams. LOOM is obviously the ‘new kid on the block’, but we are here to stay and inform the industry about how data and technology are transformative. “Our team is always hard at work with new technology, which has incredible benefits. This will enable LOOM’s growth, and we believe it will boost the way we do real estate and make room for agents to do what they love most, which is being part of someone’s new journey, whether it is selling or buying. We look forward to being one of the catalysts of the future of real estate.”