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LJ Hooker has revealed a groundbreaking digital offering that could dramatically transform the face of the Australian property market.
LJX-Lab is a digital research and development vehicle and is part of a $100 million commitment the network has made to boost the best practices of the industry and put Australia on the global map.
The first development to roll out of LJX-Lab is Real Edge, a digital learning and coaching platform that will provide all agents – including those not aligned to LJ Hooker – with the training they need to ensure continuous personal career growth.
“Our heritage is as the training ground for the industry. You look at a lot of the leaders in the industry, they came out of the LJ Hooker school of real estate. It’s been hard for us to progress this legacy and the knowledge until we had this platform and it’s very exciting that we’ll be able to take that legacy and that heritage into the 21st century,” LJ Hooker chairman L Janusz Hooker said.
“It’s taken seven years for everything to line up. The technology is there now, the consumer is there now. The consumer is demanding lots of things they weren’t before and the final piece of the equation is our industry. We’ve taken the best ideas we’ve gathered globally and the best ideas from here in Australia, [and] LJX-LAb is going to bring global best practice technology, products and services to the Australasian market.”
Real Edge will partner with the network’s face-to-face training in an online platform that provides streamed lectures and tutorial-style training in everything an agent needs, from compliance to day-to-day duties.
“Real Edge appeals to this, allowing 24-hour online access to engaging videos, practical role-play scenarios and up-t-date legislative content to strengthen knowledge and daily activities. If you’re in real estate, part of your DNA should be the desire to learn something new every day and consistently develop your knowledge and skills to the highest levels. Our modules are designed to provide that,” LJ Hooker network chief Graeme Hyde said.
The platform will also provide agents with a live chat option, the chance to recommend training to their peers and the chance to set goals and be coached on how to reach them via the platform and other agents.
“LJX-Lab creates an environment of competitive learning. You want to learn more because everyone else is learning,” Mr Hyde said.
“It will provide you with the learning when you need it and provide you with the content to achieve your goals. The goal setting is very powerful. It also allows you to be coached from anywhere in Australia on where you’re at, and why you’re not where you need to be and how we can help you get there.”
The site will also be offered to external agents, which LJ Hooker hopes will help boost the standards of the industry.
“Primary focus of the external site is to give back. LJ Hooker means real estate and it’s up to us to lead the industry and we want to lift the standard by setting the standard and then sharing with the broader industry how to come up. You have to have a global perspective to be competitive going forward,” Mr Hooker said.
Agents will be able to train wherever they are, whenever they are free. They will also have access to training conducted by external property experts such as Tom Panos who has contributed videos to the platform.
“We’ve got this amazing network, the knowledge in those people is extraordinary and we’ve been waiting for a platform that can deliver that knowledge,” Mr Hooker said.
“Developing real estate professionals, developing a real career, serving the broader Australian community better and where we’re letting ourselves down is the quality of the training. As an athlete, you’re only as good at your coach.
“LJX-Lab will help [agents] become elite [in] what you do, not just average at what you do.”
LJ Hooker also announced the team of advisers they have been working with to formulate the LJX-Lab products, more of which will be rolled out in the coming year.
The network worked with freelancer.com CEO Matt Barrie, founder of Black Bird Ventures Bill Bartee, co-founder and principal of RFR Holding, Michael Fuchs and director of Zoopla.com Grenville Turner.
“These specialists had no prior professional interest in real estate but are inspired by our digital strategy which enables them to apply their experiences working in global tech players to the real estate industry,” Mr Hooker said.
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