Innovation in Real Estate

How neighborhood messaging offers social distancing solution for real estate

To combat the challenges of COVID-19 and social distancing restrictions, RuListing provides an alternative way of sourcing real estate. RuListing, a real estate networking site, connects property owners to prospective buyers and renters online enabling both parties to qualify each other before meeting in-person. And now, RuListing has enabled InMail messaging on their site for real estate service providers to directly message and build online connections with buyers and renters who have posted their profile and are actively looking for homes for sale or rent in their neighborhood. RuListing’s real estate networking platform takes lead qualification online, minimizes in-person contact, and is a faster and safer way to source real estate. 

The global pandemic has stalled the established real estate industry and traditional open house lead generation techniques, accelerating innovation behind sites that support a digital sales funnel from prospecting to closing the transaction online. Global real estate sales slumped in April with the U.S. and the Australian real estate market recording significant decline in home sales. CNBC posted a decline of nearly 18% in sales of homes for sale in the United States in April 2020, while Australia has seen a residential sales decline of 40% in the same month. Canada plunged to record levels, dropping 56% in April 2020. Home sales in the U.S. continued to plummet in May and the lack of inventory continues to plague market performance in June. While job loss and uncertainty have dampened buyer demand and seller inventory, social distancing measures have left buyers who are prepared to purchase hesitant to search for homes.  Property owners and their agents are turning to technology to minimize face-to-face contact in the sales process and keep the real estate industry moving forward. 

With RuListing, buyers and renters can post their profiles online, indicating what they are looking for and in which neighborhood. Homeowners and their agents are able to preview profiles and message with prospective buyers and tenants who are looking for homes for sale or rent in their neighborhood. The platform enables people to build relationships and qualify each other online before touring a property. RuListing’s real-estate networking platform takes the initial face-to-face sales cycle online, engaging with quality leads and minimizing in-person exposure. To help qualify leads, RuListing’s ruRTP score (ready to purchase score) measures a buyer’s likelihood of buying and helps property owners and agents distinguish between tire-kickers and serious buyers. This helps to ensure that those buyers, invited to meet face-to-face and tour a property, are serious buyers and ready to transact.

“During these social distancing times and with Zillow 2.0 accelerating its release, the real estate industry and all service providers who support the transaction will find it even harder to break through digital barriers and find qualified leads. It’s important for the industry to embrace innovation, trying new digital ways to find and message buyers online”, says Founder and CEO, Susan Joynt.

RuListing helps real estate agents and homeowners find buyers and renters in their neighbourhood, reducing the number of prospects a property owner and agent would meet with in-person. As profiles are user-populated, RuListing supports any real estate need whether buying, renting or even seeking shelter, and is anticipated it will be leveraged by international students to connect with property owners online during COVID-19, to source off-campus housing for 2021 year.

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