Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

How agents can best utilise proptech

By Emma Ryan
13 March 2020 | 1 minute read
How agents can best utilise proptech

With digital disruption showing no signs of slowing down, agents are being encouraged to utilise technology, rather than fear it.

Speaking to REB, Peter Gibbons, managing director of Openn Negotiation, shared why agents shouldn’t be reluctant to use the proptech available in the Australian marketplace.

“Many proptech companies, Openn Negotiation included, recognise the skill set of agents and seek to safeguard their role in property transactions,” Mr Gibbons said.

Advertisement
Advertisement

“Nevertheless, customers are demanding more transparency, 24-hour service and convenience. If agents don’t adapt to these needs, the harsh reality is customers will find a way to get it without you.

“My advice to agents is invest in the proptech companies that seek to enhance your role. The next new player to enter the market may not share the desire to keep you central to the transaction process.”

Furthermore, Mr Gibbons said: “The largest industries are always the most resistant to change.

“Processes and specific ways of thinking become so embedded that they go unchallenged for decades. The real estate industry is no different.”

Mr Gibbons acknowledged it isn’t surprising to see some agents hesitant to trial new technology, “especially when it seems that every week there’s a new entrant to the market”.

“Agents ask themselves, will investing in this actually lead to a substantial return on investment? Would the time it takes to research and understand the product be better spent on prospecting for new customers? These are all valid concerns that make combating their fear of trialing proptech services difficult,” Mr Gibbons said.

“My advice to agents is to commit to a period of time each month, set a reminder in your calendar if needed, where you research the latest proptech developments. Jot down the ones that you deem worth further consideration.”

He concluded: “You can’t jump on every new proptech trend — that’s not an efficient way to do business. But there will be ones that stand out, that hit a pain point you might not have realised you had (or your customers). Those are the ones to pay attention to.”

Mr Gibbons also spoke to REB about how the rise of technology has helped bridge an important gap in Australia’s real estate industry.

How agents can best utilise proptech
computer 850x400
lawyersweekly logo

ABOUT THE AUTHOR


Emma Ryan

Emma Ryan

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]com.au

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings
Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.