It’s no secret that COVID-19 has forced a variety of industries to shift focus and embrace a new approach to continue to grow. When it comes to real estate, an industry based on person-to-person contact, the challenge presented was centered around how to successfully navigate government-imposed lockdowns, stay-at-home orders, and social distancing measures safely whilst still maintaining healthy economic outcomes for clients.

During a time where the world was in global crisis how did a small Newcastle based boutique agency, Green St Property thrive in the property management division?

Recognised for their innovative approach to property management, Green St Property’s Carly Pukallus recently earned two major industry awards at this years Real Estate Business Awards (REB) –‘Property Manager of the Year –  Regional’ and the evenings major award ‘The Excellence Award’.

For the past decade, the awards program has been known as the benchmark for excellence in real estate around Australia, and year after year recognises those influencing the profession, propelling the industry forward.

While the internet has become the primary source of leasing and selling property in Australia (and overseas), many agencies still rely on traditional media to promote their products – full page newspaper advertisements, billboards, small activations in major shopping destinations are among a few popular choices.

Even with the popularity and ease of online platforms, the industry failed to explore a vast majority of digital products that always had the potential to change the entire real estate experience for vendors, buyers, tenants and landlords alike.

Now 100% digital in the way they process and lease properties, Green St Property were the first in their region to introduce pre-recorded virtual tours, live property features and digital application processes seeing phenomenal results with increased rental returns for owners (compared to major competitors), securing better quality tenants with an impressive turnaround, often leasing properties within 24-48 hours.

Discussing the benefits of this new approach, Carly Pukallus speaks fondly about how this new process has changed the industry for the better.

“The issue with a traditional approach to property management such as open homes and paper applications is that they often provide a time constraint for potential residents moving into properties.”

“Pre-recording our home tours allows us to be thorough, we can talk about the homes features clearly and precisely and we can mass distribute these tours to potential residents who otherwise might not have been able to inspect in person.”

“What we are seeing is an improved quality of applications – those potential candidates who work full time and traditionally might not be able to inspect a home at 3pm on a weekday can now inspect properties from the comfort of their own desk/home or even interstate if they are planning on moving large distances. They can inspect, apply, and get approved within 24 hours which means a win-win for both the landlord and the tenant,” she said.

Green St Properties Licensee/CEO, Peter Aloupis and Chief Operating Officer Amanda Aloupis couldn’t be prouder of the progress their small local business has made within the real estate sphere, commenting on the overall benefits this process has introduced to their business.

“Utilising a fully digital approach has seen our rent roll growth improve immensely. When owners seeking to rent out their properties learn we can do it in half the time compared to our competitors, it becomes a no-brainer. They have vacant properties on the market for less time and are getting more of out their investment.”

“We have also seen a trickle-down effect to our sales portion of the business as well, now enabling us to reach overseas buyers much easier than before,” Peter said.

Each tour is recorded with the property manager acting as both the presenter and guide – with the format taking inspiration from popular travel programs, immersing the viewer casually into each home/experience.

The trend was quickly observed by competitors and similar products can now be seen within the market suggesting the innovative approach may be the new “normal”.

It is clear that real estate brands who embrace and recognise the potential that technology has to offer the industry will continue to thrive even during a period in history where uncertainty is so prevalent.

IMAGE | Green St Properties Chief Operating Officer, Amanda Aloupis, and Licensee and CEO, Peter Aloupis.