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Gone are the days of investors having to rely on slow-moving processes, with the technological disruption in the real estate industry speeding them up tenfold.
Speaking to Smart Property Investment as part of the proptech special, Managed co-founder and director Nick Bouris said the opportunities provided to investors off the back of digital “disruption” have been plentiful.
“I think as a property investor, proptech disruption has augmented the way we invest,” Mr Bouris said.
“Information is now out our fingertips. [There are] listing portals like realestate.com.au and tonnes of information you can get when searching for certain property configurations and areas around metropolitan Australia. This kind of info, certainly from an investment point of view, helps you for a thesis.”
Among the add-ons, according to Mr Bouris, is an ability for investors to obtain up-to-date median property prices and weekly rental prices for both houses and units; recent comparable sales; nearby schools and infrastructure information; average demand for property, as measured by number of clicks per property per month against state averages; profiles on the people, lifestyle and homes; and finance calculators.
“Negotiating is also another point [to make about these platforms]. A tool I always like to look at when investing is RP Data — you can get info like what the previous owner paid for the property, you can get a look at strata plans/floorplans and square metres prior to inspecting the property, too. We all know how deceiving listing photos can be,” Mr Bouris noted.
In addition, Mr Bouris said technology has made professional selection that much easier.
“Picking the right sales agent/leasing agent or property manager has been made a whole lot easier,” he said.
“If you’re self-managing a sale, lease or general property management, tools like Airtasker, HiPages and our business Managed App are great for finding trades, too.”
Different investing structures have also resulted off the back of the implementation of advanced technology, according to Mr Bouris.
“Fractional property investment has been a thing in Australia for a while now, with the likes of BrickX and listed REITs, but now there’s a new player run by a friend of mine, Darren Younger, called Bricklet.
“Where BrickX allowed you to fractionally own property via a real estate investment trust with a digital layer, Bricklet takes things one step further and via a deal with land and registry services can put as many property investors as you like on title, making direct property ownership more affordable than ever before.”
Finally, property management has also seen big wins from the likes of digital disruption.
“Services like our own company Managed App are changing the way owners are getting paid on their investment properties,” Mr Bouris said.
“We’re paying owners in real time as soon the rent is paid by tenants — no more waiting 30 days for end of month, meaning they can manage their cash flow better.”
See more of our proptech coverage here:
An estate refers to the assets a person owns at death that could be used to pay their debts, including all personal property, real property and other liquid assets.
An estate is the value of an individual’s net worth including assets, properties, financial securities and other valuable assets.