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One Sydney agency has transformed into a high-tech, digitally driven business, using technology strategically to streamline operations and gain a competitive edge.
When he first took over as director of Community First Real Estate Liverpool, Michael Galluzzo described it as a “dinosaur” business.
Now, seven years later, Galluzzo’s agency is one of the most high-tech offices in the area.
Having identified the advantages that technology could provide, Galluzzo didn’t waste any time in changing the way he operated his new business once he took the reins.
“As a salesperson, I had no control over it, I used what I was given. But when I went out and got my own business, I changed everything,” Galluzzo said
“I basically had the opportunity to go out and say, ‘What do I want to use?’ and then start implementing it.”
Since then, the agency has continued to embrace technology, with the majority of Community First Real Estate Liverpool’s business now operating through digital platforms.
Galluzzo said almost all of the sign-ups the agency handles now are done digitally, a far cry from when he first entered the industry 13 years ago, when everything was primarily done in person.
While he makes it sound easy, Galluzzo said the transition to an all-tech business was challenging, especially when trying to implement new technologies with staff who sometimes failed to see the advantage and did not buy into the change.
“Getting people to adopt new technology if they’ve been doing it a certain way for a period of time can be a real challenge.”
Galluzzo said his agency has been using tech across the board, with digital platforms now supporting everything from staging to property management.
According to Galluzzo, the agency has seen a beneficial change since it started using the Managed platform, which automates payments, eliminates the need for a trust account and streamlines property management.
He said the switch to Managed was a “game changer” for himself and the agency, as it allows him to receive and manage payments himself, without needing a full-time employee to handle the task.
He said that Managed has been helping the agency to save on overhead costs and saves him time in the long run.
While his agency uses more technology than most, Galluzzo said every network and agency can do the same.
“Everyone has access to the tools we use. It comes down to what you want to achieve and how technology is going to help you get there.”
“I think a lot of people are under-utilising technology,” he said.
As spring begins, he noted a high volume of properties coming to market ahead of the seasonal change and expects steady, consistent growth in sales rather than a boom, suggesting that the perceived impact of the Home Guarantee Scheme may outweigh its actual effect.
Similarly, he said Sydney’s south-west rental market is slowing after a hectic period, with rising vacancy rates, longer days on market and falling rents.
“The market went ballistic over the last two to three years but it is stabilising now,” Galluzzo said.
“The market is pulling back a bit, vacancy rates are going up, days on market are increasing and rental prices are pulling back.”
“Everything is cyclical, the load is always going to go somewhere else. You are going to pick up that busyness somewhere else,” he said.
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