The new generation of clients expect real-time updates as events occur and agents need to adapt to meet their needs, says Tom Russo.
Mr Russo, the general manager of Elders, said that agents will need to evolve to meet the needs of clients that expect smaller but more regular updates.
“The new generation doesn’t necessarily want to sit and hear a detailed weekly campaign briefing from their agent,” Mr Russo said.
Instead, many clients will expect real-time updates and that will require a change in attitudes from agents.
“Success will require agents to adapt to evolving client expectations in the context of technology continually changing the vendor-agent relationship,” the GM said.
Mr Russo said that the industry’s focus must remain on the client and that “best practice” is an ever-changing ideal.
“What has traditionally been considered best practice is often no longer good enough as our clients demand communications, decision-making tools and real-time access to detailed information to be delivered in a form dictated by them,” the GM said.
Mr Russo said that while many agents are apprehensive about technology, he doesn’t subscribe to the view that technology is a threat to the industry.
“Many people in our industry seem to approach proptech or realtech from a defensive position and are pre-occupied by the notion of digital disruption and disintermediation,” the GM said.
One of many examples of a positive technologic change is in the property management sector, including electronic payment options and automated maintenance management applications, Mr Russo said.
“If embraced, this technology can create significant efficiency improvements in any agency, pushing up margins and strengthening the business,” the GM said.
Even the sales agents have benefitted from new technology that is enabling greater efficiency.
“The advancement in CRM platform development, clever digital deal origination products and intelligent prospecting applications utilising ever-expanding data sources enable[s] agents who are willing to embrace best practice to be even more effective and successful,” the GM said.
Elders is embracing technology and is about to launch a new website that will benefit consumers and their own team.
“Our upcoming new website launch will showcase some of our findings into lead generation capture and management as well as enabling consumers to research and understand their market in an easy and transparent way,” Mr Russo said.