At Squirrel, we’re always on the hunt for ways to make life easier for our clients, whether they’re first-home buyers, upgraders, downsizers, or seasoned property investors.
So, when we heard about a clever new platform that aims to streamline the process of connecting pre-approved buyers with sellers whose properties match their criteria, we were very interested.
When you think about it, the traditional process for buying and/or selling a house in New Zealand is pretty flawed
As a buyer, you’re trawling through listings that give you no accurate indication of the seller’s price expectations, making it difficult to tell if you’re even in the running.
Then, say you fall in love with a house and decide to go for it… There’s always a chance that—after attending multiple viewings, forking out for a building report, and getting mentally and financially prepped for auction—you weren’t even in the same ballpark. We see this emotional rollercoaster with our clients all too often.
Selling also comes with its own unique set of challenges, particularly in a slow market.
The decision to put your home on the market in the first place can be challenging. Then you’ve got to spend all that time, money and effort getting it ready for sale—making little improvements, getting photos done and your marketing sorted, and packing your life away for every open home.
All that, and there’s no guarantee it’ll even sell.
Case in point: JB’s recent attempt at selling a rental property. After paying $7,000 in marketing and listing costs, another $3,000 to stage it, and forgoing three months of rental income (another $15,000)—he didn’t get a single offer.
As a seller, you can easily spend $10,000-$20,000 on marketing and staging and have it all be for nothing.
Now, as mortgage advisers, we have pretty good insight into the market—who’s buying and who’s looking to sell—and if we spot a match between two of our clients, we’ll always make the introduction
In fact, we’ve even got a wee case study (from many moons ago) which showcases our matchmaking skills.
If this hands-on approach has taught us anything, it’s that buying and selling a property is a whole lot easier when you already know there’s a fit between the buyer’s wants and budget and the vendor’s property and price expectations.
Unfortunately, not everyone has had access to this sort of personalised property matchmaking service…until now. Enter Yelsa Connect.
Founded by Mike Harvey, an ex-real estate agent and long-time friend of Squirrel, Yelsa Connect is a digital platform designed to connect buyers with sellers whose properties fit their criteria and budget (and vice versa).
Its mission is to streamline the buying and selling process, making it more transparent, efficient, and cost-effective for everyone involved by removing the noise of traditional property listings and advertising.
So, what does Yelsa Connect offer that’s so different to the rest?
If you’re buying:
- Yelsa gives you access to properties before they hit the market, allowing you to get a head start on your competition.
- Instead of endlessly browsing listings, you'll be sent personalised alerts for properties that match your location, price and property-type criteria.
- If you've been pre-approved for a mortgage, you can get your profile verified by your mortgage adviser, making you more attractive to sellers and agents who can reach out to your directly, but—most importantly—ONLY with properties that fit your specifications.
If you're selling:
- Yelsa lets you do a buy-match for free and without having to involve a real estate agent. That way you can get a feel for the market before you list or commit to spending money on marketing.
- Yelsa will show you how many buyers are currently looking for a home like yours, at your price point and in your area.
- When you're ready to sell, you can appoint an agent to approach pre-approved buyers directly, which can help to speed up the sales process significantly. If you've already found your new dream home before you list, this gives you a greater chance of securing an offer on your home, in time for you to place your bid.
If you're an agent:
- Yelsa is designed to complement the work of agents, not replace them.
- Agents can use the platform to connect their clients to a broader audience, leveraging an extensive database of pre-approved buyers and creating more opportunities to sell with less efforts. Yelsa simplifies the process for agents, helping them match clients with potential buyers who are ready to go more efficiently.
- It also means fewer hours spent following up with buyers who aren't ready.
In other words, Yelsa cuts out a lot of the time-wasting and unnecessary expense that can be part of the traditional buying and selling process—helping to bring buyers and sellers (and agents) together to create better outcomes for everyone involved.
How much does Yelsa Connect cost?
- For sellers, creating your Yelsa profile is free.
- For buyers, setting up your profile is free if you do it via your mortgage broker. Your broker can verify your profile and pre-approved status, and can also display your profile as one of their verified buyers—enhancing your visibility and credibility for sellers and agents. For buyers who join Yelsa directly (i.e. not through a mortgage adviser) there is a one-off flat fee of $259 to create your profile.
- For agents, it's free to create a profile and run matches. If you wish to be listed as part of the Yelsa Agent Directory, though—which allows sellers to view your profile and invite you to be their listing agent—it costs $99 per month.
Once you join Yelsa, you'll have access to your profile for life.
We love the idea behind Yelsa Connect, which is why we’re partnering with them as part of their pilot launch
If you’re an existing Squirrel mortgage client who’s either been pre-approved or settled a mortgage with us, we’ll contact you in the coming weeks with more information about how Yelsa works and whether it could be a good option for you.
For our pre-approved buyers, we’ll also help you set up and verify your Yelsa profile so you can start hunting for properties immediately.
If you’re interested in finding out more about Yelsa Connect, check out their website.