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.
While demand is surging in the market, one of the primary concerns users have reported is the difficulty to find authentic listings. To help property seekers instantly understand the authenticity of listings and enjoy a much more seamless search experience, we launched our exclusive property authentication solution a few months before the pandemic hit the world. Following this, in a survey we conducted in late 2020, more than 33% of property seekers in the UAE reported that the presence of fake listings has been the biggest challenge when it comes to online property search, confirming that authenticity remained a priority.
When TruCheck™ was launched, early reports showed 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, we 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 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.
Get the latest tips for Real Estate Success
“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.
Based on this 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 fake 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.
What Does Validating a Property with TruCheck™ Mean for the Industry?
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 that 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. Showcase your genuine property listings by validating them with TruCheckTM today!
If you looking for tips on improving your listings and a detailed look at validating your listings, check out our range of resources and take the leap to achieve your goals! You can also sign up for our in-depth workshops at Bayut Academy to attend our interactive sessions on mastering the skills needed to excel in the real estate industry,