Red hot market spells extinction for ‘dinosaur’ agents

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Red hot market spells extinction for ‘dinosaur’ agents

As Australian property sales boom, a new challenge is unfolding in our suburbs and regions.

Properties that were once attracting only two or three buyers pre-COVID-19 are now seeing surging buyer interest as Australia’s red hot property market marches on.

This is backed by new data from online property platform, RESO which reveals there are 25 buyers on average invited into every sale.

From an agent’s perspective, that is an average of 25 people per property, plus the vendors who are demanding two-way, 24/7 communications.

Certainly, while the current boom may present a golden opportunity for agents, it is also revealing agents’ biggest challenge – the inability to handle high volumes of enquiries. 

For those versed in the old-school of printing, emailing and texting the sales process, a crisis point is looming – either get onboard with new tech and adapt, or go the way of the dinosaur.

Paperwork is dead, long live tech

If the rapid agent uptake of new anywhere, anytime mobile tech says anything, it is that the old paper contract and communication-based methods are not long for this world.

Nathan Tonich of Realmark Urban who has been using online offer, acceptance and contract management system RESO for the past 18 months said the ease of an all-in-one solution made it a no-brainer.

“You don’t have to go out at 9pm at night to write up a contract and you don’t have to rush to the airport to get a signature for a FIFO client – they just put an offer in on their mobile so we can issue a contract,” he said.

“As an agent, your capacity is greatly increased because you can handle more listings and more vendors regardless of if you run with, or without an admin person.”

“The process is simply less stressed and people have commented that I am much happier.”

Along with an emphasis on service, Tonich puts Realmark Urban’s success in slashing the amount of days properties are on the market down to RESO.

“Prior to using RESO, properties were on the market for an average of 45 days,” he said.

“Since using RESO we went to 23 days, and now with the market red hot, this has now reduced to 14 days.”

The results stack up, not only for vendors and agents, but also for buyers.

“The feedback from sellers and buyers is how straight-forward the RESO process is to buy a house,” Tonich said.

“There is no being sent away with a blank contract and trying to work it out.

“I recently had a buyer who had offered on 12 different properties in the last six months with different agencies – he said using RESO was by far the easiest way to buy the property out of the 12 different listings.”

And with a new generation of buyers and sellers joining the property market, agents should expect demand for online contracts and improved communications to grow.

“Gen Z first home buyers are far more engaged in a process like RESO,” Tonich said.

“They feel more comfortable operating online and seeing the transparency of where their offer sits.”

How RESO works

On all reiwa.com listings, the user will see the RESO button as the call to action on the listing page.

When the user clicks on the button, they are directed to a RESO page where they can enter their details and request to:

●      Make an offer

●      View the property documents

●      Be kept up-to-date

The agent can then choose to contact the buyer directly, or get the buyer invited into RESO to make an offer online or view the property document.

Just by inviting buyers into a RESO sale, reps can automatically keep every buyer informed of any updates on the property sale.

All enquiries are passed to the relevant agent regardless and a RESO BDM will follow up with the agent to ensure there has been contact with the public user.

The agent /rep is then free to negotiate with the buyer as normal.

Originally posted on reiwa.com.au

How to get leads and maintain popularity in a market boom

This is a true story that happened to one of the, let’s say more popular, real estate agents in Perth.

Gavin, who’s identity we’ve chosen to protect, was having one of those days.

The top sales rep had received 125 buyer enquiries for the one property in a weekend and he was juggling a barrage of incoming calls, emails and texts.

Gavin is a machine but even this many buyers was too hot for him to handle – trying to keep all buyers up to date on what was happening with the property sale.

The challenge: manage the enquiries and lose his mind, or lose his hard-built reputation.

Gavin needed some help.  

Protect and grow your reputation

Reputations, as they say, are hard earned and easily lost and Gavin had no intention of jeopardising future listing leads.

And in this market boom, this story is not uncommon for agents.

The number of enquiries flooding in combined with the challenge of keeping everyone up to date is simply too much for one person to deal with.

So, what is the bottom line risk for real estate agents unable to respond to the deluge of enquiries?

Well, aside from the risk of not being able to keep everyone informed which undermines trust in the buying process, it is the ongoing reputational damage to the agent and the heightened risk of losing future leads that is the real threat.

It’s a simple risk management approach – manage ALL the enquiries and you protect not only your hard-built reputation, but also your future listings.

Easier said than done we hear you say, especially in the middle of a market boom.

Well, the solution is not as complex as it appears and it can fit snugly in your back pocket.

The 21st century solution

RESO is an online offer, acceptance and contract management system which allows agents to manage a mountain of offers and fast-track sales.

Forget managing multiple communication channels, REIWA’s new “‘make an offer’ button on each listing allows potentially hundreds of buyers to liaise directly with reps.

In the RESO platform agents also get an immediate alert as soon as one of their invited buyers requests an appraisal for their own property or a desktop valuation.

Meanwhile they are also able to gauge the interest of a property and provide updates to the seller.

It’s a win for the buyer, the seller and the agent.

There is greater transparency of the offer process; agents can handle more offers; and most importantly, they can uphold their reputation and their stream of future listings.

Realmark agency executive director WA Scott Fletcher is a champion for digital change.

“I love RESO because it is simple and easy to use,” he said.

“It allows an agent to invite more buyers into the offer process in a friendly manner – removing barriers whilst providing an additional layer of transparency through its ‘ranking’ function when dealing with multiple offers.”

How it works

On all listings, the user will see the RESO button as the call to action on the listing page.

When the user clicks on the button, they are directed to a RESO page where they can enter their details and request to:

●      Make an offer

●      View the property documents

●      Be kept up-to-date
 

The agent can then choose to contact the buyer directly, or get the buyer invited into RESO to make an offer online or view the property document.

Just by inviting buyers into a RESO sale, reps can automatically keep every buyer informed of any updates on the property sale.

All enquiries are passed to the relevant agent regardless and a RESO BDM will follow up with the agent to ensure there has been contact with the public user.

The agent /rep is then free to negotiate with the buyer as normal.

Originally posted on reiwa.com.au

Agents get sales, time edge as contracts go digital

House prices are surging in Western Australia with new builds booming and rentals becoming as rare as an undeveloped triplex block in Dalkeith.

In this turbocharged market, offers are being made through multiple communications channels – texts, emails, phone calls, web queries and more.

On top of this high demand, real estate agents also need to be able to respond at all hours of the day with interstate and even international buyers in the mix.

Keeping up with this turbocharged property market is challenging, especially if you’re still using traditional methods like paper-based forms to generate leads and close sales.

Go digital or miss out

To help real estate agents get a competitive edge, REIWA has teamed up with Real Estate Sales Online (RESO) – an online offer, acceptance and contract management system allowing agents and buyers to communicate online.

Through this partnership, any property displayed on REIWA’s listings portal reiwa.com now has a ‘RESO’ button which enables buyers to register their interest or make an offer at the click of a button.

And real estate agents who embrace RESO’s digital contract management system will gain a significant boost in WA’s fast-paced market, where multiple buyers are often chasing the same property.

Here are the five deal maker reasons WA real estate agents will want RESO in their pocket:

1. RESO reduces paperwork 

All offers and expressions of interest made through RESO are digital, so they are instantly accessible on one easy to use platform.

This means no more printing off multiple copies of forms and hunting down physical signatures, because everything is done digitally through one streamlined service.

2. RESO qualifies buyers quicker

RESO is optimised to allow prospective buyers to register their interest in a property through a seamless digital interface, uploading all relevant details in one place.

Then when the time comes to make an offer, the interested parties can submit their financial details securely and lightning-fast, allowing them to be qualified quicker than the outdated paperwork-driven method.

3. Create instant contracts with RESO

RESO is a digital management system that can generate tailored contracts on the go for individual deals and buyers.

At the touch of a button, you can create a contract from an interested buyer, secure the offer and submit it to the owner, quick as a flash.

4. Boost your listing leads with RESO 

It might be a busy time in the game right now, but this won’t last forever. Think about when the boom ends, you could be scratching around trying to find listings.

Fear not! We’ve listened and we have the solution. Inside the RESO app you’ll find an inbuilt lead generation function.

Get an alert as soon as one of your invited buyers requests an appraisal for their own property or a desktop valuation.

How good is that? It’s like having your own mini sales rep who works exclusively for you.

5. RESO saves you time, stress and money  

The sales process for real estate can drag on, especially when there’s paperwork to be filled out and driven across town for signatures and reviews.

Times this by 20 offers on the one property and you’ve got a massive headache.

But with RESO, everything is done at the touch of a button, reducing the sales process by an average of nine hours.

Forget the stress, not to mention the boredom of waiting at the printer. 

Rest easy knowing that RESO’s digital contract management system removes the heavy lifting, meaning more time selling properties and less time stressing.

Use RESO today

As WA’s real estate market continues to heat up, having RESO at your disposal will give you a competitive edge and free up more time to meet the market’s demands.

To see how RESO can help you, visit the platform’s dedicated Agents Page and deep dive on how it can save you time and help you make money.

Originally posted on REIWA.com.au

Shining the spotlight on the Sunshine State

With a room full to the brim with talented real estate professionals, the REIQ Awards for Excellence event was a huge success last night.

The REIQ Awards encourage, recognise and promote excellence and best practice and competition was fierce, with 106 finalists across varying individual, agency and external categories.

REIQ CEO Antonia Mercorella says the calibre of submissions this year was second-to-none.

“We are continually heartened by the quality of the professionals within our sector, and this year is no different,” says Mercorella.

“Real estate is a competitive industry, but the REIQ’s annual Awards for Excellence is a great way for our community to come together and celebrate each other’s successes.”

RESO was thrilled to be a finalist in the Industry Innovation Award category alongside Agent Dynamics, Market Buy, Properlytics and RiTA by AiRE.

RESO CEO, Kate Chalk, congratulated the winning RiTA by AiRE team expressing how exciting it is to be part of a group of Australian Proptechs working to deliver tech-enabled solutions that are rapidly removing the pain points agents, buyers and sellers all experience across the real estate process.

“We are really proud to be part of an amazing group of innovators developing solutions to the critical problems facing this industry,” Chalk says.

“RITA uses artificial intelligence and automation to deliver a daily list of optimised leads to real estate agents and is another example of a productivity tool that can supercharge the existing human and technology resources within a real estate agency.

“The RESO team is passionately working to enhance transparency in the real estate sales process and deliver a seamless, professional online customer experience that allows agents to focus on the human touch points that are so important.

“What RESO does so well is help agents facilitate the offer, acceptance and contract process online for buyers and sellers,” Chalk says.

“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.

“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. 

“The feedback we are receiving is 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.

“Both RESO and RiTA by AiRE deeply value, and are investing in, technology that enhances the ability of agents to provide exceptional levels of customer service.”

A great night

The Real Estate Institute of Queensland (REIQ) is the state’s peak professional association for real estate practitioners representing 4000 individual members, 1600 agency offices, and more than 15,000 property professionals including principal licensees, salespeople, property managers, auctioneers, business brokers, buyers’ agents, resident unit managers, and commercial and industrial agents across Queensland. 

Congratulations to all of the 2020 Awards for Excellence Winners…..

Best Media Report – Mikaela Day – Gold Coast Bulletin, News Corporation

Business Broker of the Year – Dustin Slypen – Link Business

Business Development Manager of the Year (Property Management Office) – Jamie-Lee Billerwell – Code Property Group

Buyers Agency of the Year – Propertyology

Buyers Agent of the Year – Matt Reeves – Your Property Hound

Commercial Agency of the Year – Raine & Horne Commercial Brisbane Southside

Commercial Property Manager of the Year – Alana Johnston – Colliers International Brisbane

Commercial Salesperson of the Year – Hunter Higgins – Colliers International Brisbane

Community Service – Agency – Wythes Real Estate

Community Service – Individual – Carla Haddan – Place Estate Agents Bulimba

Corporate Support Person of the Year – Debra Aleckson – Wythes Real Estate

Franchise or Cooperative Office of the Year – Colliers International Sunshine Coast

Industry Innovation Award – RiTA by AiRE

Large Residential Agency of the Year – Laguna Real Estate

Medium Residential Agency of the Year – Solutions Property Management North Lakes

Regional Residential Agency of the Year – Kingsberry Harcourts

Regional Salesperson of the Year – Johnathon Merton – Laguna Real Estate Gympie

Residential Property Manager of the Year – Tamara Weight – Kingsberry Harcourts

Residential Salesperson of the Year – Brett Andreassen – Plum Property

Small Residential Agency of the Year – Xperience Realty

Young Professional of the Year – Patrick Ivey Harcourts – Property Centre

Auctioneer of the Year Nominees – Justin Nickerson – Apollo Auctions

Connecting with young home buyers for better customer service

The Federal Government’s mortgage guarantee scheme aims to help first home buyers enter the property market and according to the ABC, a month and a half into the program, 6,500 loans have been or are being processed. 

That leaves another 3,500 places in the scheme this financial year and another 10,000 spots will become available from July.

Under the scheme announced ahead of the May election, the Government is offering loan guarantees for properties with different caps for different cities and regional centres.

Just released data shows the scheme is helping millennials achieve their home ownership aspirations and boosting sales in regional areas.

Quoted in Elite Agent HIA Chief Executive Industry Policy, Kristin Brookfield, says 34% of applicants are aged between 25 and 29, with 76% between 18 and 34 and millennials making up the largest share.

“This represents 3055 first home buyers taking the opportunity to buy their first home sooner,” Ms Brookfield says.

“Where first home buyers are looking to live is also encouraging with a large number of applicants, including millennials, looking to buy outside the major cities of Sydney, Brisbane and Melbourne.”

RESO CEO Kate Chalk says Generations X (millennials) and Z are posing a challenge for the real estate industry because they are demanding to connect, research and purchase through digital devices.

“With the increase of volume of millennial, and younger purchasers, real estate agents are learning the value of online tools that place the property transaction process at their buyers’ fingertips,” Kate says.

“The RESO platform – Real Estate Sales Online – has been designed with feedback from the real estate industry to deliver to these changing consumer expectations and a heightened need for speed and transparency.”

While agents of all ages are embracing online tools millennial agents like Klemich Property Consultant and Personal Sales Assistant to Penny Riggs, Isabela Klemich, know the importance of technology across the property process………..

Isabela Klemich

Q: What is your personal experience with younger buyers and vendors when it comes to technology use and their expectations?

A: Younger buyers and vendors certainly prefer to communicate via email, text and even Facebook Messenger rather the over the phone – very rarely do they pick up the phone and make calls!  I recently listed a property and got as far as collecting the keys a few days before the first open before I realised I didn’t even have the vendor’s number – all our communication had been over Messenger, email or face-to-face   And more and more young buyers use text to communicate and communication can be done at all hours of the day – often at 9pm at night etc.

Q: How dominant do you think mobile technology use is and how will it affect property transactions in the future?

A: Very dominate – most people use their phones to search for property and people find agents and keep up-to-date online or over social media. 

Q: Do you think using technology like RESO.com.au will be how Generation Z expects to buy a home?

A: Most likely, yes – a lot of people just expect us to do things online. I think young people feel much more comfortable when things are done online – they don’t like having to make a call!

Q: What benefits do you see technology bringing to the real estate transaction process?

A: It can save us a lot more time and help us be more productive. Technology also helps us get more business.  But although I believe technology is really beneficial, we are still a people business and sometimes we just need to meet with people and chat! 

Gen Z demand online platforms

Expectations of how we buy and sell property are changing rapidly as a rising generation of Generation Z home buyers steadily moves towards investing in property or buying somewhere to call ‘home’.

Born between 1995 and 2009, Generation Z is the first generation born into a world where technology is omnipresent with the internet, smartphones and social media an indispensable part of life.

According to Sydney-based research firm McCrindle Generation Z are also the largest generation ever, comprising around 20% of Australia’s population and almost 30% of the world’s population.

Currently aged between nine and 23, there are more than two billion Generation Z on the planet, with 4.5 million in Australia.

RESO CEO Kate Chalk says they are the first fully global generation that has always been connected through digital devices and engaged through social media.

“The rise of Generation Z is signalling major changes for real estate agents as this digitally savvy generation demand online tools that place the property transaction process at their fingertips,” Kate says.

“Generation Z’s have little interest in traditional media, like newspapers and TV, but searching and purchasing online is how they roll,” Chalk says.

“The real estate industry has to adapt and be responsive to this emerging generation’s needs by normalising simple online tools that streamline access to every part of the property transaction process and deliver total transparency for all stake holders.

“The RESO platform – Real Estate Sales Online – has been designed with feedback from the real estate industry to deliver to these changing consumer expectations and a heightened need for speed and transparency.”

Earlier this year REISA President, Brett Roenfeldt OAM, announced technology would be the focus of its 2020 centenary review in preparation for the massive shift in service delivery Generations Y and Z  bring to the real estate industry.

Brett Roenfeldt

“The rise and rise of technology, big data, automation and demand for real time solutions for consumers are all influencing our industry and must inform our forward strategy,” Roenfeldt says.

“The move to embrace technology will gain even more momentum in 2020 than it has had in 2019, which is good news for buyers and sellers, because digital platforms like RESO are all about enhanced user and customer experiences.”

Ray White Semaphore Sales Manager, Samantha Hirniak, certainly knows a thing or two about digitally connected consumers and buying property at a young age and uses www.reso.com.au for many of her property sales.

Samantha Hirniak

Samantha was captivated by the real estate industry as a teenager, purchasing her first renovation project at the age of 18 before buying and selling numerous other properties.

Samantha says buyers who are 35 years and under, and foreign buyers, have been grateful for the RESO platform because it enables a much faster and streamlined process to offer and purchase. 

“Mobile technology is more dominant than ever before and buyers want documents and answers yesterday,” Hirniak says.

“A recent Gen Z purchaser from overseas was extremely impressed and grateful we offered RESO and was shocked that in Adelaide all agents do not utilise this technology. 

“Mobile technology coincides with the faced past lifestyle people now lead and transparency, time management and a better buyer experience are basic requirements for this connected consumer generation.”

Agents, like Samantha, 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.

Through automation, increased speed and the seamless online delivery of the property purchase from beginning to end, RESO’s technology enhances relationships with buyers and delivers exceptional outcomes for sellers.

Talking all things property technology

Kylie Davis knows the ‘PropTech’ space really, really well. With more than 20 years’ experience a researcher, presenter and marketing expert in the real estate and property industry, her insights help agents understand digital technologies and deliver excellent customer experiences.

Kylie makes it her business to source, connect with and then share the insights of the innovators disrupting the real estate industry.

One way in which she does this is through her PropTech Podcast where she explores the brave new world where technology and real estate collide and builds community between innovators and real estate agents.

RESO’s CEO, Kate Chalk, was Kylie’s most recent PropTech Podcast guest and together Kylie and Kate explored how RESO is pushing the boundaries of what’s possible and implementing technology that is creating amazing property experiences.

One of Kylie’s first questions to Kate was “So what are the pain points that you’re solving with RESO?”

To which Kate responds – “The pain points are really focussed around current and future human consumer behaviours and expectations that have changed and continue to change”.

“Obviously the consumer is very connected with information that they can get online, particularly about the property sales process. With a computer in their hand constantly they have the currency of convenience and they expect immediacy and efficiency in their transactions,” Kate says.

“But agents are only human with so many hours in the day. So we are automating the property sales process as much as we possibly can so agents can still give a really high level of service and create some transparency for their buyers and vendors.”

Having spent years working for CoreLogic Australia, Kylie knows buyers have a lot of complaints about the buying process, and one of their biggest complaints is always around transparency – Has their offer been accepted? Has the agent even received it? Is it even in the ballpark? What’s the next step?

“There’s a whole lot of opacity around that whole buyer experience that, as I understand it, you guys deal with,” Kylie says.

“That’s right – I think it may have been from one of your podcasts, where it was quoted that about 58% of buyers say they received average to poor service. So that’s obviously a lot of previously unhappy buyers that will hopefully become sellers one day and be looking for great transparency,” Kate says.

Kylie and Kate discuss and debate the above and many more critical points around how RESO makes the real estate sales process smarter, faster and simpler so please check out the link to the podcast below…

And please connect with RESO – especially if you’re an agent in SA, WA, NSW or Queensland where RESO is looking for more agents to test the game-changing online platform.

Link to the podcast – https://kyliecdavis.com.au/2019/11/episode-5-reso-transcript/

Multiple buyers is a RESO for success

Success is often measured in numbers like cost, time or size and while RESO has plenty of positive numbers to share they don’t tell the whole story.

Tim Morris Real Estate agent, Jane Willson, recently sold a property at Broadview in SA using RESO and the numbers stacked up perfectly – the property sold quickly, the offers from 19 buyers came in thick and fast and the selling price, of more than a million dollars, was above the asking price.

But it was how accessible, fair and transparent the process was that impressed her vendor and buyers the most.

“Using RESO has transformed the buying and selling process – the response for this property at 10 Mcinnes Avenue Broadview SA was extraordinarily positive,” Jane says.

“When I spoke to some of the buyers some were unsure but once they accepted the invitation to register for the property on RESO and they saw that they had instant access to all the property documentation – the Form 1, the Certificate of Title and a suburb statistic report – they thoroughly engaged with the process.

“All the registered buyers were then able, in their own time and at their own pace and wherever they were, to develop an offer and click a button to put it on RESO.

“With enquiries from buyers coming at all hours – it makes sense to have a platform that works for them to access the property they are interested in – instantly.

“RESO provides an authentic and transparent line of communication from the agent to the buyers – it is fantastic – and even a developer from Victoria, pitching to buy the Broadview property, called me to tell me that ‘the RESO site is really good because it has all the information available in one place’. 

It isn’t just Jane and the buyers who enjoyed the RESO process, the normally under pressure vendor found it to be an excellent system.

David Smith and his family had owned the Broadview property for 45 years and using the RESO platform delivered an outcome where they are very happy with the price and conditions of the sale. 

“I found RESO to be better than the usual auction process because you know exactly where you stand and the good thing is that people don’t know who they are going up against, but they know that there are other genuine offers in play,” David says. 

“It works well – I am really happy the way it has panned out.  I found it easy – all I had to do was say I wanted the platform to be used.”

Jane says after a couple of weeks of inviting and connecting with buyers the property “went live for offers” on a Wednesday morning which were then ranked on Wednesday night, Thursday morning and evening and then again on Friday morning, lunchtime and lastly at 4pm.  

“The activity on Thursday was great and right up until close of offers on Friday people used the platform strategically,” Jane says.

“We made it very clear stating to everyone that the platform was being used for complete transparency – to give everyone the absolute equal opportunity to put their best offer and conditions into the platform

“It was then up to the vendor to decide on the best price, best terms and best conditions – with everyone on an equal playing field.

“While it was still a bit stressful for the buyers, they knew that all they had to do was put their best offer forward and they would be in the running for the property.  There was nothing personal in the process it was purely the platform holding the offers and then the vendor choosing the price and condition offer that suited the best.”

From a business process perspective Jane says RESO was enormously beneficial because with nineteen people making offers on the property, trying to get the best price and conditions at the end of the day would have been almost impossible.

“I don’t think I would have had the ability to contact every person putting in offers on a regular basis had I not used RESO because what happens is that you get to the end of the process and you have three or four buyers that you think are going to be the one but in the case of this property it actually wasn’t one of the early front runners who came forward with the best price and conditions offer,” Jane says.

“Instead of focussing on the top three or four offers I had the ability, because they were all clearly laid out in front of me on the platform, to call all of them because it was easy to manage all the offers that were presented in a format that I could access quickly.  

“And in the end people were actually making some substantial and exciting changes to their original offers.

“I was still contacting people on a regular basis so it didn’t take me out of the process in any way – it just took the personal emotion out of the process because it made it all totally transparent.

“I could say to everyone – you can see all the details and the paperwork on the system and then when you place your offers the vendor will be making the choice according to the offer and conditions that best suit them.  

“Everyone actually said to me they thought the process was fantastic and asked if it would be used in the future because they found RESO to be very fair and very transparent.”

“I will certainly continue to use RESO in the future and currently have a number of other properties being sold with RESO.”

Technology empowering first-home buyers

First home buyers are accounting for almost 20% of mortgage lending market and are leading the charge to buy residential property according to the QBE Australian Housing Outlook for 2019-2022 released this week.

CEO of QBE Phil White House says more than 110,000 first-time home buyers entered the market in 2018 due to more onerous lending conditions forcing many potential investors out.

“Although tighter lending standards, declining property prices and uncertainty related to the economy have deterred some first-home buyers, we still expect a similar number to be getting the keys to their very own property this year,” White says.

“It’s certainly been an interesting year for Australian property.”

Prices across all capital cities are expected to stabilise in 2019/20 after experiencing slowing growth or declines in the past two years with the combination of an easing of lending serviceability buffers and lower interest rates expected to assist borrowers. 

Strong population growth and a sharp downturn in new dwelling completions should result in the dwelling balance across most markets tightening from 2020/21. This will provide some positive impetus to prices.

The RESO platform has been designed with feedback from the real estate industry

RESO CEO Kate Chalk knows the value first-home buyers, many of them millennials, bring to the property market.

“Millennials are typically born between 1981 and 1996 and now represent the most influential age cohort in today’s residential property market because they are a significantly larger group than Generation X, or those born between 1965 and 1981,” Chalk says.

“While generations differ in their use of various technologies, Pew Researchshows us that 93% of those who turn ages 23 to 38 this year own smartphones and nearly 100% use the Internet and so they expect to research, purchase and finalise property purchases online.

“The RESO platform – Real Estate Sales Online – has been designed with feedback from the real estate industry to deliver to these changing consumer expectations and a heightened need for speed and transparency.

“In a nutshell, 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.”

The 18th edition of the QBE Australian Housing Outlook is authored by BIS Oxford Economics in collaboration with QBE Insurance.  Access the Housing Outlook at https://www.qbe.com/lmi/news/reports/housing-outlook

For more information on how RESO can help agents improve their efficiency and enhance relationships with first-home buyers go towww.reso.com/agents/

RESO continues to achieve exceptional results

Two weeks after deciding to use RESO, Brett Johnston’s first buyer on the platform resulted in a cash sale within 24 hours of the buyer viewing the property.

This exceptional result is just one example of how Brett has found RESO to be “a simple process, where the agent is still in control yet enables buyers to review sales documentation and make an offer online at their convenience”.

Brett Johnston

Brett Johnston Real Estate is a boutique agency operating in Kalamunda and the Perth Hills area and with more than 30 years’ experience in residential property, Brett is thoroughly committed to providing personalised service to every one of his valued clients.

Among other accolades, in 2011 and 2012 Brett was nominated as Kalamunda Chamber of Commerce ‘Business Person of the Year’ and in the reiwa.com 2012/13 Annual Awards, he attained ‘Ten to Fifteen Million Dollar Club’ status.

As a member of the Real Estate Institute of Western Australia (REIWA) Brett has access to, and embraces, the latest market information including technology tools like RESO, that is endorsed by REIWA.

“Being a small boutique business, I like the idea of integrated technology to help clients make purchasing or selling streamlined and simple,” Brett says.

“I have found buyers really engage with the platform – all the comments that I have had have been positive about their experiences. And the information you can place on the platform for them to access makes it a really beneficial process for them.

“The document management process is also simple to upload documents relevant to the property with a couple of clicks of a button.

“I use the RESO platform as a way in to invite buyers to get more information about a property and from there it is simple for them to make an offer if they so choose,” Brett says.

“RESO has integrated beautifully into my workflow processes – uploading documentation, inviting buyers, seeing which byers have accepted your invitation – is all at the click of a button.

“But my personalised client service is the focus with RESO as I communicate with buyers and deliver exceptional service.  That part hasn’t changed, but the flow of information has made everything so much simpler.”

Brett Johnston talks about his experiences with RESO

For more information, or to book a FREE training session, contact Rachel Coulter on 0447675958 or if you are in WA visit the RESO booth at the REIWA Connect Conference on September 30.

Or visit reso.com.au for further details.

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/