One Sydney-based north shore agency has put themselves miles ahead of their competition - at least in the eyes of investors - with an innovative mapping process.
The exclusive software, developed by husband and wife team Matthew and Samantha Bourn at mcconnell bourn, indicates areas providing an excellent return on investment, along with other important data for investors.
Speaking to Real Estate Business, Mr Bourn stated that the 'Hotspotting' software has given their agency a market advantage because they are using data more effectively. Mr Bourn explained that the database holds very specific information about individual houses and streets across the marketplace over a period of time, allowing agents to find exactly where the highest activity is.
“Hotspotting is currently being rolled out and tested at our Wahroonga office and we are very pleased with the outcome,” said Mr Bourn.
He believes the tool could prove beneficial for the industry as a whole and plans to launch it to other agents and agencies from next year.
“This software means increased productivity and a greater focus on a specific area. It allows the agent to zero in on a target market, creating a better return,” he told Real Estate Business.
The agency has proved itself as an innovator right from its establishment in 2004, with Mr Bourn operating as a lone salesperson to the 37-strong team they have today. The agency also won the Boutique Independent of the Year - Under Six Offices at the recent Australian Real Estate Awards.
Mr Bourn said that implementing strategies such as working with agents on a one-to-one basis to develop their knowledge and skills, creating a positive workplace culture and joining the Real Estate Results Network have contributed to the growth of the business. The agency has currently achieved a total of 207 sales for 2013, at a value of $320 million.
Mr Bourn also attributed the success of the business to operating as an independent agency rather than as a franchisor.
“We are an individually tailored agency – there’s no hiding behind the name of a franchisor, it’s our name on the door and everything we do reflects on us,” said Mr Bourn.