Agents must be willing to adapt to technology or risk being swept aside by their competitors, according to an industry executive.
Agents who use technology to their advantage have a significant advantage over those who are not digitally inclined, according to CoreLogic RP Data executive general manager – property and partnerships, Greg Dickason.
“My firm belief is that digital disruption is going to enable some agents to disrupt other agents,” Mr Dickason told REB.
“You’re not going to be disrupted by a robot, you’re going to be disrupted by the agent who is more digitally aware and more able to use the tools that are available to them.”
Mr Dickason said with technology only enhancing efficiency and effectiveness of agencies, gone are the days of traditional methods being enough to sustain healthy business activity.
“The whole idea that you can do a letter box drop twice a month and some cold calling and keep getting listings, that’s the old-school way of thinking,” he said.
“What you’re going to see is market share growing for those who are much more efficient with technology.
“The digital tools available help you get hold of more listings and conversely sales. You’ll find that the smart, digitally aware agents’ gross commissions will just go up and up, and they’ll be doing that at the expense of the agents who are not using those tools.”
Mr Dickason added that agents who are concerned about technology destroying “that personal touch” should think of technology as a complement to their service, not as a replacement for total interaction.
“I actually think the best agents spend more time with clients because they’ve got the right tools, and the right technology, to help them,” he said.
“It’s still a very emotional business, you don’t buy a house unless you’ve got a huge emotional commitment to it, and the same goes with the seller, so yes you still need to have face time with the customer but that doesn’t mean you ignore technology, it means you make technology work for you.”
The 2016 REinnovate conference will deliver practical insights on how to achieve fast growth by mastering and applying the latest available technology tools as a way to generate more leads, enhance profits and boost productivity.
The one-day conference will be held at The Star Event Centre in Sydney on April 5.
Following the REinnovate conference, REB’s Top 100 Agents 2016 will commence, unveiling the best real estate agents across the country.
Click here for more information.