Domain Group has unveiled an array of novel app features designed to elevate the consumer search experience on Domain, facilitating improved access to essential property information and prices. This initiative is geared towards fostering greater transparency and bolstering confidence throughout the buyer journey. The freshly introduced features represent a significant stride towards realizing Domain’s aspiration of revolutionizing search and streamlining the property search process, rendering it more accessible, transparent, and insights-oriented than ever before.
The prospect of homeownership has become increasingly elusive due to escalating affordability challenges. Evidently, research indicates that approximately 65% of Australians* are of the view that possessing a home is no longer feasible for young individuals. The quest for and acquisition of a property can be an onerous, intricate, and perplexing process.
In today’s landscape, prospective buyers place paramount importance on price-related searches and the availability of accurate and up-to-date information. Notably, Domain’s research underlines that navigating and comprehending price-related information constitutes the most formidable aspect of their journey. The research also brought to light that the second most significant challenge for buyers during their journey is efficiently collating and managing potential properties.
Domain’s overarching mission to redefine the search paradigm aims to surmount these obstacles. This endeavor is concentrated on enhancing user experience, augmenting trustworthiness and openness, and furnishing enhanced insights to guide buyers, spanning the spectrum from casual interest to determined intent.
According to Jason Pellegrino, Managing Director and CEO of Domain, “This represents a monumental advancement since the inception of the Domain app in 2009. Presently, the majority of property search applications and solutions globally are centered around an outdated classified listing experience inherited from the era of printed news – not in line with customer requisites. Our pursuit of reinventing search is predicated on challenging conventional market practices and harnessing Domain’s extensive technological capabilities to provide each user with a tailored experience, replete with unprecedented insights and accessibility.”
Offering his perspective on these developments, Nathan Brumby, Chief Product and Technology Officer, articulated, “The aspiration of homeownership is an integral facet of the Australian dream. It stands as the most significant asset for those navigating the property ladder and holds a place of utmost desirability for those yet to realize this aspiration. Regrettably, transforming this dream into reality is no straightforward feat, with numerous Australians compelled to rely on trial and error as well as personal experiences. Domain is effecting a paradigm shift in the realm of search. Through innovative endeavors, research, and development, we are fostering enhanced transparency, trust, efficiency, and insights for our clientele.”
Brumby further elaborated, “The novel app experience is tailored to aid buyers across the entire spectrum, from those with a vague interest to those exhibiting a resolute intent, in discovering a suitable property and expediting their journey. We acknowledge that comprehending and accessing price-related information, along with organizing their search, constitutes the chief challenges faced by buyers, and these enhancements are designed to address precisely these concerns. Our objective is to assist buyers in comprehending and exploring the market more comprehensively, unveiling a wealth of data and insights that furnish them with a comprehensive and assured comprehension of a property and its surrounding locality. We are enthused about the imminent launch of these features and are poised to play a more substantial role in the property journey of Australians.”
The features, available to users immediately, are:
- Immersive Sold Listings Experience: The integration of recently sold listings endows buyers with a wealth of data to facilitate a better grasp of affordability and the relative value of existing listings in proximity to recently sold properties. Presently, only a mere seven percent of Domain’s buyers engage with sold property searches. The incorporation of recently sold properties within search results empowers buyers to seamlessly compare recent sales with those currently on the market, expediting the comprehension of pricing dynamics and value within their desired locale.
- Dynamically Integrated Map and List View Experience: The fusion of map and list views empowers buyers to conduct searches in an integrated manner. While the map view furnishes insights into available properties across distinct regions, the list view enables a detailed exploration of specific suburbs or localities and the corresponding properties within them. The amalgamation of these views into a unified interface allows buyers to effortlessly transition between map and list perspectives, thereby discovering properties in adjacent vicinities. This amalgamated approach enables buyers not only to glean insights about individual properties but also to delve into the fabric of the neighborhoods they inhabit.