The president of the Real Estate Institute of New South Wales (REINSW) has shared why technology being introduced into Australia’s real estate market is of benefit to the industry.
Speaking on a recent episode of the Secrets of the Top 100 Agents podcast, REINSW president and director at Laing+Simmons Leanne Pilkington said despite there being some fear around digital disruption, the evolution of the proptech market is enabling greater industry collaboration.
“I think we are being forced to collaborate more effectively as a result of all the changes that are coming in,” Ms Pilkington told host Phil Tarrant.
“I go to the States every year for a conference and I was at [real estate conference] Inman earlier this year in Vegas and I was at Inman last year in San Francisco and I found it fascinating the difference in the dialogue. So, yes, there’s all this talk about technology still, absolutely. Last year, they were talking about the fact that agents were no longer going to be part of the equation. This year was completely the opposite.
“They are still talking about the importance of agents in the transaction and the focus is really on utilising the technology effectively so that agents have more time in the field developing relationships because agents with strong relationships, with strong ties to their local community, is where they see the successful agents going moving forward. So, I thought that was really interesting.”
In her role at Laing+Simmons, Ms Pilkington said she has been driving that very proposition, ensuring that her agents remain relevant during the continued evolution of technology.
“We all need to grow and evolve, and from a Laing+Simmons perspective, we’re doing that in a number of different ways. We have just launched a partnership with Laing+Simmons agency services and so what that does is provide back-end services across the entire spectrum of sales, admin and property management,” Ms Pilkington said.
“And it’s not just something that you have to use 12 months of the year if you’ve got an issue while your property manager’s away for a month, for example; we’ve got someone who we can plug in and just do your inspections and keep everything going.
“So, I think it’s really important that we look at that. We’re changing our naming protocol, so previously it’s always been Laing+Simmons, your suburb. Whereas now we’re giving more flexibility to the way those are named. More flexibility actually to do what you’re doing out there in the field. We’re working on technology that will allow agents to plug in and not have the amount of, if you like, admin support required face to face. So, yeah, there’s a lot going on.”
Going forward, Ms Pilkington advised listeners of the Secrets of the Top 100 Agents podcast to familiarise themselves with the new proptech providers coming to the market.
“There are a lot of new models coming into the real estate space. There’s a move away from physical office environments. There’s a move towards technology and higher splits as a result to our agents,” she said.
“It’s going to be really interesting to see where that lands this time next year because that doesn’t work for everybody. Not everybody is self-sufficient enough to work on their own from home, for example. Some people don’t thrive in that environment. So, I think the good thing is there are lots of choices now so you can make a decision about the best way to work for you and your family and your world.
“I think that’s exciting, but it’s challenging for people that have always had the traditional brick-and-mortar, small corner store. So, there’s going to be a big evolution I think.”
Emma Ryan is the deputy head of editorial at Momentum Media.
Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.
Email Emma on: [email protected]