In a boon for homebuyers hoping to speed up their property search, and investors looking to rent out their properties, uno has partnered with new real estate platform Soho.
One of Soho’s perks is a feature called Property Match, which is effectively like Tinder for real estate. It enables users of the app to swipe left on properties that don’t interest them – and right on those that do. It also suggests properties that might not be directly in the suburb buyers are looking in, but that contain all the other attributes they’re looking for and are located close by.
“The problem with search is that your dream property might actually be in the next suburb, but you’ll never find it because you never searched for it. Our algorithm can actually suggest new properties that are going to suit you that might be around your core area,” says founder and chief executive Jonathan Lui.
“We’re doing that work for you to help you find your home, rather than you relying on yourself. The Tinder approach lets you bookmark a property so you can receive alerts and updates on that property – did the price change? Is there a new inspection? Has it been sold or leased out? – so you don’t need to waste your time on the weekends going into a property that’s already been sold.”
Likewise, you won’t be bothered by agents selling properties you’re not interested in.
Hoping to take market share from major players realestate.com.au and Domain and named for the popular area ‘south of Houston’ street in Manhattan, Soho is a free platform with a mission to help buyers into their dream homes. And because once they’ve found their home, they’re going to need a mortgage, uno is the perfect partner of choice.
The benefit for buyers
Customers flock to uno to get a home loan. We encourage home buyers to get pre-approval before they purchase, so they know how much they can borrow from the bank and don’t spend more than they should.
Once a customer has pre-approval, they have three months to find a property and the hunt is on. Soho’s network-based approach, similar to LinkedIn, can hopefully help speed up this daunting process.
“It’s a network, a community,” explains Lui. “You can search for properties, but we have a lot more offerings. You can connect to experts, you can read their market updates. You can get sent nice property match alerts as well – depending on your profile.”
With property enthusiasts and experts, buyers agents, selling agents and investors on the platform, Soho is marketing itself as a go-to for real estate insights.
“We’re effectively a publishing portal for the experts who know everything about every suburb and street. It makes sense to connect to them and they might say, ‘Hey would you like to come round, the vendor is very keen to sell, let me know’.”
Soho will soon have a data report partner that will enable buyers to get property reports for free. “You can create an account, download the report and it’s going to help you make your purchasing decision.”
Buyers can then, directly from the site, access uno’s site and apply for a loan from uno’s pool of 30 lenders. “It makes it easier for everyone to tick the boxes.”
The benefit for investors
Soho could also benefit uno customers who are looking to invest in a home and advertise it for rent, or who may already own a rental property and want to keep an eye on the market.
Whereas competitor sites such as Domain and realestate.com.au charge vendors and agents to advertise properties on their sites, Soho doesn’t. Similar to LinkedIn, sellers have the option to pay for premium subscriptions where they can see who’s looking at their property or profile.
The site also supports rentals so investors can use it to advertise their properties and fill properties quickly and have that communication between someone who’s looking for a rental property and the owner or the agent.
Check out Soho’s Proptech Carpool video with uno’s founder Vincent Turner: