The outgoing Real Estate Institute of Western Australia (REIWA) chief executive has reflected on his time spent with the institute ahead of his May retirement.
Having started with the REIWA all the way back in 1977, Neville Pozzi commenced in an accounting role and has since held the positions of manager of finance and administration, deputy executive director, general manager of operations and chief financial officer before he took on the CEO role in 2012.
During his tenure, he’s seen a number of changes – with one of the most notable being the changes to technology and the advent of the digital age.
“The internet changed everything,” he said.
“It removed a lot of the barriers to information and empowered the WA public to be more informed about real estate than they ever were before.
“Where market information was once solely supplied by real estate agents, people can now go online and do a lot of that research themselves.”
Even so, the CEO sees the key role of a real estate agent as unchanging.
“The key role of the real estate agent, which is to objectively oversee transactions, has not changed in more than a century,” Mr Pozzi said.
Calling the role of the real estate agent “as important as ever”, he said: “Technological advances have changed how transactions are executed, but the fundamentals of what a real estate agent does is still critical in ensuring a successful transaction and managing the subjective expectations of buyers and vendors.”
Looking forward, Mr Pozzi expects real estate transactions will continue to move online, driven by efficiencies in the space.
“I think COVID-19 has really accelerated the need for more technological processes in real estate,” he expressed.
While he is still certain that advancements “will not replace the requirement for a real estate agent”, he does believe the technology’s ability to continue creating efficiencies will “make buying, selling, renting and investing in WA as seamless as possible”.
“The challenge will be to recognise trends before they occur and make sure the right technology is adopted and used by the industry,” he professed.
From 2 May 2022, Cath Hart will step into the role of REIWA CEO.
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Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.