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LJ Hooker says that the corporation is constantly pioneering new ideas as it predicts and adapts to industry trends, benefitting all agents in its network. Here are the four trends it watches most closely.
1. Consumer behaviour
LJ Hooker network chief Graeme Hyde adds that change is inevitable and that the real estate industry changes in tandem with the changing needs of consumers.
But he adds that the industry is probably experiencing now the most rapid period of change in history.
“This is due to the expectation of buyers, sellers, landlords and tenants that relevant information is available at their fingertips in a mobile and highly connected digital world,” Mr Hyde says.
“In this digital age, a real estate specialist without a holistic offering that boasts contemporary digital services at its core, risks becoming irrelevant.”
He says that 15 years ago, you could have a very successful real estate career by simply having good local market knowledge and being a good listing agent.
“Those days are gone,” Mr Hyde says.
“We now make sure our business owners and their teams are highly skilled with a 360-degree proposition that combines online and offline value.”
2. Legislation
Mr Hyde adds that entering (and staying) in real estate is going to have its own set of new challenges as well.
“Legislative enhancements to raise the entry level into the industry in New South Wales are likely to be broadened around the country,” the network chief says.
“LJ Hooker’s training institute is working closely with real estate institutes and RTOs to ensure our network is best prepared to meet future licensing requirements.”
3. Business coaching
Mr Hyde says that LJ Hooker identified “some years ago” that a network requires the franchisor to be more than a service provider — it needs to be a business coach and success partner.
“To that end, we have developed a panel of world-class real estate coaches — including Christine Mikhael, Jason Rose, Amy Sanderson and Andrew Friebe — to partner with our franchisees to drive growth for their businesses.
“Our panel of growth specialists have 80–90 years of combined elite experience which we proactively share with our network partners to increase their market share, enhance profitability and acquire and retain talented agents.”
4. Digital engagement
Mr Hyde also points to the LJ Hooker digital strategy, calling it the centrepiece of LJ Hooker’s experience.
“There is an overwhelming number of digital products required to run a real estate business nowadays — everything from CRMs and office suites to apps for data collection and customer engagement.
“We have some of the best digital minds at LJ Hooker who can identify the best-in-breed digital products and develop proprietary technology through the research and development centre, LJX Lab.”
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