Technology powering agents into the future

Archive for July 2019

Technology powering agents into the future

Savvy REIWA members all across the vast area of Western Australia have been accessing the latest real estate market data, statistics, sales information, calculators and suburb profiles online for years.

As more tasks become digitised, Real Estate Institute of Western Australia CEO, Neville Pozzi, knows how important it is for agents to embrace technology and innovation that can improve productivity and provide even better customer experiences.

reiwa.com is a comprehensive and trusted local knowledge source which provides agents, buyers and sellers with online tools that help simplify one of the biggest decisions in their life,” Pozzi says.

“Which is why developing new ways to connect and providing people with the most up to date information is quite important for us.

“Beyond sourcing valuable information, we assist our members in embracing new technologies which help to make certain tasks quicker and improves the customer’s experience with tools such as inspection apps, digital forms and making greater use of CRM’s to manage data and engage with customers.

“To remain relevant, we know that real estate agents all over the world need to embrace technology to deliver superior services, reduce their costs and make things as simple as possible for everyone involved.”

Real estate specialists from around the globe shared their wisdom at the FUTURE: PropTech 2019 event in London recently and among the key themes was the need for digital innovation to be focussed on ways to support agents to do their day to day jobs better.  

“End to end solutions, like that offered by RESO – Real Estate Sales Online – is the way of the future as the real estate industry embraces technology to become more streamlined and give consumers better experiences,” Pozzi says.

RESO CEO Kate Chalk says as technologically empowered homebuyers begin to dominate the property market, tools like RESO, deliver options for agents that vastly improve the end-to-end experience for both vendors and buyers.

Agents who use the RESO platform can upload a property in a matter of minutes and provide buyers 24/7 access to the registration, offer and contract process,” Chalk says.

“More and more agents are sharing with us that time, energy and money are being saved in spades with buyers being able to access all stages of the buying process online and respond to the different stages instantly wherever they are in the world.”

Real estate agents all over Australia work really hard to deliver exceptional outcomes for clients, but as the real estate sector transforms, they will also need to continually adopt the best technology options for digitally savvy buyers and sellers.

“In some respects the industry has been slow to embrace leading edge technology but that is all changing as businesses seek to become more efficient, reduce their costs and use technology across multiple platforms to better manage and use information collected by the business,” Pozzi says.

“RESO is an essential component in the industry’s drive to do these things to become more efficient and improve the overall consumer experience.”

Flying into the future

As a proud Lockyer Valley local, Emily Hallas knows better than most all the benefits of living in this beautiful part of Queensland between Brisbane and Toowoomba.

Emily Hallas – All Property Real Estate Gatton

Emily is part of the local and independent Agency, All Property Real Estate Gatton who have decades of experience selling properties in the area.

“Together we offer all our clients the complete package of sales and property management and a high level of service and professionalism,” Emily says.

“As an agent, RESO creates a digital platform for us to have private information ready for viewing any time of the day or night for our clients, information they want is there already available to them 24/7.

“Making an offer on a property via online technologies is the way of the future, RESO is one step ahead forging the path for agents to incorporate this technology already.

“RESO is the future of negotiating – transparent, efficient and available 24 hours in the palm of our hands.” 

To learn how RESO helps agents enhance relationships with buyers go to www.reso.com/agents/

Change brings opportunity

In our everyday life, as more and more tasks become digitised, the technology available to us is being adapted and enhanced at a rapid rate.

Over the past few years the real estate industry has been focusing significant energy on technology and innovation and how they can help improve productivity and provide even better customer experiences.

The recently released fourth edition of KPMG’s Real Estate Innovations Overview, in collaboration with Global PropTechand Holland ConTech & PropTech, shows just how much, changing technology will drive transformation of the industry over the next few years.

KPMG has identified a set of key industry trends – in the image below – that they believe require technological solutions to ensure real estate businesses can adapt and thrive.

Global Lead of Real Estate Consulting, Sander Grunewald, says the Real Estate Innovations Overview shows a bright future across real estate for those leveraging innovation, but only if it is part of a long-term strategy.

“The real estate sector needs to act to embrace innovation and increasingly recognise the opportunities of this digital transformation in their strategy,” Grunewald says.

“Over the past three years we have seen an increase in interest in PropTech and real estate innovations.

“In our view, any real estate company not exploring and exploiting property technology and innovation should question its strategy.”

Recently more than 700 speakers from around the globe shared their technology ideas at the 5th FUTURE: PropTech event in London.

Key players in PropTech, like Heather Staff, the co-founder of Spectrean online tool that helps agents find properties to sell, described how quickly things are changing.

“Until recently there has been a lack of innovation in the area of helping agents do their day to day job better so there will be a lot happening in that space in the next few years,” Staff says.

RESO CEO Kate Chalk says Real Estate Sales Online(RESO) is an example of technology that helps agents work more efficiently – reducing their costs of doing business through automation, speed, a seamless end-to-end process and scaling of the property purchase.

Agentswho use the RESO platform can upload a property in a matter of minutes and provide buyers 24/7 access to the registration, offer and contract process,” Chalk says.

“More and more agents are sharing with us that time and energy are being saved in spades with buyers being able to access all stages of the buying process online and respond to the different stages instantly wherever they are in the world.” 

To see how RESO can help agents improve their efficiency and enhance relationships with buyers go to www.reso.com/agents/

When all the stars line up at once!

It’s been a big week for anyone interested in the property market.

Data released by CoreLogic on Monday showed that property prices in Sydney and Melbourne are up for the first time since 2017.

Dwelling values in Australia’s two biggest cities rose 0.1% and 0.2% respectively, with CoreLogic analysts attributing the trend to “lower mortgage rates and improved sentiment”.

On Tuesday the Reserve Bank of Australia cut interest rates for the 14th time in the current elongated monetary policy easing cycle that began in November 2011.

The official cash rate hit a record low of 1 per cent and the RBA governor Philip Lowe suggested the bank will be seriously considering further rate cuts in the months ahead.

On Tuesday evening the government’s full tax package passed the House of Representatives, with Prime Minister Scott Morrison promising tax cut lump sums of up to $1080 would be arriving in Australians’ accounts as early as next week.

Wednesday may have been a day of financial rest for the Australian economy but then on Thursday evening the Coalition’s full $158 billion income tax plan passed through the Senate.

And on Friday (today) the Australian Prudential Regulation Authority removed the serviceability buffer that requires banks to assess all borrowers against their capacity to repay their loan at 7 per cent.

RESO CEO Kate Chalk  says that The Financial Review’s headline “APRA bins buffer, lets lending rip” says it all this morning with details emerging that “under the new rules banks will merely add 250 basis points to the rate paid in order to assess whether or not the loan is suitable for the borrower”.

“We know how hard agents all over Australia have been working to provide exceptional service to Australian home buyers and vendors who have being doing it tough for a while and we truly welcome this string of good news for the housing market,” Chalk says.

“According to CoreLogic’s Research Director, Tim Lawless, a couple with two children and an income of $150k per annum can now increase their borrowing by around $67K.

“This is really good news and along with interest rate cuts and the government’s tax cuts arriving in bank accounts very soon, its onwards and upwards.

“We look forward to continuing to partner with agents to deliver exceptional customer experiences as the Australian property market continues to adjust to changing conditions.”

For more information about how RESO – Real Estate Sales Online – can help streamline the property buying and selling process please go to reso.com.au or call 1300 123 091.