A fast-changing property industry needs a new approach

A fast-changing property industry needs a new approach

07 September 2015 by Dawie Verryne 1 comments
Dawie Verryne

Over the past 20 years, there has been a fundamental change in the way business is done – and much of that is due to the impact of information technology. It hasn't just changed the way we work and interact, new technology has also heightened customer expectations of service.

Those who embrace this technological change will stay ahead of the game. That's been proved across multiple industries, and the property sector is no exception. Those who don't will lose out in terms of efficiency, customer acquisition and retention, and revenue.

So, where are we now?

We've been using desktop applications for everything from customer management to financials for some time. The problem is, we have too many of them. They're starting to make workflows less efficient as we juggle one with the other. Worse still, information is becoming fragmented in separate databases. That makes it difficult to have a complete view of customers, often leading to lost opportunities – or lost customers. Then there are the complications of managing applications, as well as the infrastructure that supports them.

More recently, smart apps and mobile devices are enabling people to work and communicate from just about anywhere. On the one hand, that makes everyone more productive and responsive. On the other, it means the pace of business has dramatically increased. Moreover, customers are expecting quicker access to information and support. The reality is, you have to pedal faster just to keep up.

Where do we need to go?

To succeed in an increasingly competitive and fast-paced environment, property professionals need to be more efficient and flexible.

Firstly, they have to streamline workflows. Instead of switching between multiple applications, they need a single interface that allows them to seamlessly access all of the functions they need. Equally important, they should have a unified view of customer activities.

Secondly, they can't be tethered to the office any more. Desktop applications simply don't deliver the anytime, anywhere responsiveness that's needed in today's connected world.

We've found that real estate agents are now looking for a technology solution that combines all aspects of their business, and that products have been purpose-built in close consultation with the property industry.

Agencies are also looking more towards integrating workflows with data, analytics and banking functions, while providing a single view of operations and where information is accessible 24/7.

Dawie Verryne brings a solid understanding of software, IT and internet-based business models to his role as chief executive of PropertyIQ. A joint venture between CoreLogic and Macquarie Bank, PropertyIQ gives property professionals a single operational view of the industry and their business through an integrated, cloud-based software platform. Accessed anytime, anywhere and on any device, PropertyIQ provides greater insight to improve efficiency, profitability and professionalism.

More articles from this author:
promoted content
Recommended by Spike Native Network
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
At the top of his game: how this agent evolves to stay number one

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?