LandNow has created a new platform function for managing exclusive stock agreements.
On the back of its successful launch late last year, LandNow has responded to the strong market demand in Western Australia for new homes to create the latest software upgrade for land developers.
Simple to use, the Exclusive Release function allows land developers to prioritise hold requests from their preferred builders. Once accepted, these lot sales can then be managed exclusively by the builder.
“The Exclusive Release function allows developers to decide which builders they want to work with and give preferential treatment to those they have a strong relationship with,” Tony said.
“Exclusive Release lots appear greyed out to competing builders, meaning they cannot be transacted or have a hold request put on them.”
The Exclusive Release function can be set up by a land developer, or be requested by builder representatives.
Sales management teams can request builder-exclusive holds from the land developer. When the developer accepts, the lots are shown in their hold sheets automatically, removing the need for manual spreadsheets and data entry and competing builders cannot view those lots.
Additional features include the ability for the builder to leave sales notes against each lot, giving developers real-time visibility on sales updates. This removes the need for constant phone calls to check in on the sales status.
“With land in such tight supply in WA, developers don’t need help selling their lots, but they can see that the LandNow platform is the right tool to help them manage their inventory in real time,” LandNow co-founder and CEO Tony McEntee said.
“The developers we’re working with also know from experience that the market won’t always be this strong, and can see significant advantages to embracing the technology now so that they are set up for the future when the market turns again.”
This latest release from LandNow follows announcements that respected WA developers Hesperia and Celsius, along with builders Home Group WA and Summit Homes Group, have all joined the platform.
Tony said he was inspired to offer the house-and-land development industry with better solutions than the existing paper-based land inventories.
“For so long, builders and developers have been relying on antiquated methods to search and secure land,” Tony said. “Live inventory and digital mapping solutions will save builders 30 hours per month and give them the tools to create a more personalised service for buyers.
“For the developers, the efficiencies in shortening the buyer journey and receiving real-time data will change how they operate, resulting in a better buying experience for the customer”.