5 minute read
Q&A with Luke Watson, Home Live
home.com.au HOW WE VIEW REAL ESTATE
Luke Watson is CEO of the live streaming company, Home Live, the world’s first dedicated ‘remote engagement’ platform for real estate. A co-founder with Jon Tyson, Luke says Home Live emerged from a realisation that while virtually all aspects of life have been transformed through technology, real estate marketing is largely the same as it was almost two decades ago. It was time to catch up!
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VIEW caught up with Luke to find out more.
What is Home Live?
LUKE: Home Live is a way for agents and property managers to host live, interactive property walk-throughs in a way that is purpose-built for the industry. Our singular focus is on equipping real estate professionals with a toolkit to meaningfully engage with buyers and renters wherever they may be.
Why has it become so popular?
LUKE: There are a few reasons. Firstly, there is a lot of technology trying to replace the human element of real estate. Efficiency is great, but not if it comes at the expense of a great experience. Agents love Home Live because it puts them front and centre to start building rapport with prospective buyers even before they walk through the door. Secondly, Home Live is a great entrée to a physical inspection. Agents can use it to lead to a property inspection or as a great filter to qualify buyers/renters before they view in person. Finally, there’s been a big, long-term trend towards using live streaming for property marketing, but up until now it has relied on generic streaming solutions that sort of do the job but actually create a ton more work for the agents if they want to get results.
What has the public demand been like for live streaming?
LUKE: We completed a study into real estate discovery just recently and the statistics were fascinating. Under normal circumstances, 76% of respondents would request a live stream if they knew it was an option and 81% would watch a live stream if available. Those numbers jump considerably when factoring COVID-19, with 97% preferring a live stream prior to any inspection.
Why is Home Live better than other live streaming like Facebook Live, Zoom or Facetime?
LUKE: These are all great products that share live streaming as a central feature, but beyond that, they are very different. For example, Home Live integrates with agency CRMs so that properties and leads are all synced automatically.
Our messaging during the live streams is private so that viewers can ask questions of the agent without any other viewer seeing. Our post-stream surveys are also incredibly useful as they allow viewers to give more information about their interest in a property. One of the most exciting things is our Smart Embedding. In addition to live streams being viewable through our website, this makes it possible to view them directly within the corresponding property page on the agency’s website. We are the only company in the world offering a feature like this and I’m delighted that RE/MAX Australia has chosen to Home Live-enable remax.com.au
Why is it the most costeffective digital way to market your home?
LUKE: One great way to think about Home Live is that it supercharges your existing marketing. Take portals advertising, for example.
You might have thousands of people viewing your property then have a handful come to an inspection. If you add Home Live into the mix, you could double or triple the buyer interest.
Add that it is only $29+GST per month for unlimited properties and live streaming, and it becomes a bit of a no-brainer. Pre-recorded videos can cost $200 to $400. 3D models might cost $2500.
VR can run into thousands. Again, these are all great marketing tools for the right property, whereas Home Live is suitable anywhere.
HOW WE VIEW REAL ESTATE
How do I get on Home Live?
LUKE: Agents and property managers in the RE/MAX Australia network have Home Live available to them today.
Locate the property you are interested in on remax.com.au and rsvp (or request a stream if there are none scheduled).
You can get more information at home.com.au, or homelive.co.nz for readers in New Zealand.
Viewing properties remotely should pique the interest of buyers living overseas. Has there been noticeable interest from international markets?
LUKE: Yes. Our clients have noted people from Asia, especially Hong Kong, are using it; but what has been very interesting is the growing traffic from North America.
I guess Australia and New Zealand have become even more desirable places to live given the recent turmoil in the world! When open house inspections were banned in response to Covid19, real estate agents were left with three options. They could do one-on-one visits to the property. They could do a pre-recorded video. Or they could embrace a third option – livestreaming with Home Live.
Home Live is a pioneering live streaming solution built for real estate agents globally.
In what ways can sellers and agents approach marketing homes differently today?
LUKE: New technology like live streaming means home buyers can get a live, interactive experience remotely. That is huge, as everyone is so time poor these days.
Home buyers want convenience. On the other hand, sellers don’t want to have strangers coming through their homes all the time. Sellers are increasingly aware that marketing should lead to direct results, as are agents.
Also, we should not forget that this is the biggest purchase most people make in their lives. It is hard to overstate the value of giving them a convenient and personal way to engage with a property.
Where to from here? Do you have any thoughts on how we’ll be showing and viewing real estate in the future?
LUKE: Richer remote engagement is really where this is headed.
There is a convergence of high bandwidth and low latency internet, super high-resolution video, and immersive ways to interact with people and spaces.
It is an exciting time and a future we are building towards at Home Live.
Having said that, this is still about a person feeling joy when they walk through the door of a home.
