Dubai, United Arab Emirates: A recent analytical study conducted by Bayut, the region’s leading property portal, has shown that while the property market in the UAE has seen tremendous growth in the last few months with more people buying their first homes and tenants looking for attractive deals in more spacious homes, one of the primary concerns users have reported is the difficulty to find authentic listings. More than 33% of property seekers in the UAE reported that the presence of inaccurate property listings has been the biggest challenge when it comes to online property search, confirming that authenticity remains a priority.
To help property seekers instantly understand the authenticity of listings and enjoy a much more seamless search experience, Bayut had launched TruCheck™, their exclusive property authentication solution a few months before the pandemic hit the world. When TruCheck was launched, early reports had shown that listings validated with this advanced solution, received up to 5 times more leads and 20 times more impressions.
In 2020, a year into the launch of the feature on Bayut, the team decided to compile real-time data to understand the significance of this property validation tool in the overall property search experience. This study was conducted between two of Dubai’s real estate agencies, Agency A and Agency B respectively.
Agency A had twice the number of property listings as Agency B, but only a few properties of these were validated with a TruCheckTM badge. We found that:
- Agency B had 10,845 leads while Agency A had a significantly lower 3,584 leads
- Agency B had 16,532,460 impressions while Agency A had 2,959,074 impressions.
In other words, Agency B had 202% more leads and 459% higher impressions than Agency A.
On taking a closer look, it was observed that Agency B had 93x more TruCheckTM badges on their property listings, which is the main driver behind this performance.
“Our study has shown consumers are looking for evidence of validity and authenticity, and when a property seeker spots the TruCheck™ on a listing, they feel like it is of higher quality than the others. Knowing that the property has been validated makes the search easier for them too”, says Caroline Tinkle, Senior Industry and Training Manager at Bayut & dubizzle.
According to the study, it is evident that listings with the TruCheck™ badge have an edge. At a time when Covid 19 restrictions made it harder to go for property viewings, TruCheck™ simplified the process and helped active property seekers to avoid any inconvenience because of inaccurate listings.
Users find the TruCheck badge as a symbol of the property being ‘real’ and available on the market, a concern which several property seekers in the UAE have, when looking up listings online.
Agents can validate their listings and get the TruCheck™ badge in two steps: first by uploading the required documentation and receiving a Checked badge on their listings. Following this, the agents have to use the BayutPro app at the property and share photographic proof that the property is available and accurate. Other than building trust with their potential clients, agents also have the added benefit of showcasing their properties higher on Bayut’s search pages, attracting more impressions resulting in more leads and business with Bayut.
Confirming the popularity of TruCheckTM with UAE’s agencies, Khurrum Farooq the CEO of AZCO Real Estate said: "Thanks to Bayut’s TruCheck our clients at AZCO feel more comfortable and secure. It has helped us to generate more business as clients instantly trust listings which have been validated with TruCheckTM."
As clients demand more transparency in property listings in UAE, ensuring these needs are met will play an important role in the success of an agency.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
