Leading boutique network Professionals has identified the intelligent use of information that is currently swaying the future of Australian real estate, claiming that it is likely to increasingly continue to do so.
General manager Alastair Lias said that agents will know more, sooner and for longer, about their target markets as the industry evolves.
“The biggest tech driver is likely to be the use of technology to pinpoint prospective sellers early in the customer journey and the ability for programs to assist, nurture them to listing,” the GM added.
“This means that the more automated the process, the better to assist in reaching desired customer touchpoints and targeting.
“We are also heavily relying on lead generation websites that have been internally developed with automated sending and receiving of data between agent and client.”
Mr Lias said that there are other pressure points the industry is likely to encounter.
These will come in the form of the “standard” real estate agent not adapting to the winds of change blowing through the industry.
“Them not being able to keep up or ignoring the pressure put on from third-party companies or disruptive models,” the GM said.
“Unless they make fundamental changes to their value proposition, it will be a further pressure on fees and business running costs.”
He also said that recruitment, due to law changes, has and will continue to be a challenge for all agents.
“And especially for the smaller operations,” Mr Lias said.
“We are seeing a further divide with either an agency being a very small cost-efficient agency or those that grow into large agencies able to sustain the rising costs within the industry.
“The average middle guy will have to grow or change to a more efficient model.”