University of Auckland Agents with Technology Oct 2014 Alistair Helm
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The impact of technology on the role of real estate agents - here in NZ and overseas. A presentation to property business school under graduates at the University of Auckland
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University of Auckland Agents with Technology Oct 2014 Alistair Helm
- 1. AGENTS WILL NOT BE REPLACED BY TECHNOLOGY…. …THEY WILL BE REPLACED BY AGENTS WITH TECHNOLOGY
- 2. ALISTAIR HELM • Founding CEO of Realestate.co.nz (2006-2012) • Founder Zoodle (2009-2012) • Founder Properazzi (2012-)
- 4. There are around 1,800,000 houses in New Zealand The market value of the housing stock is around $725 billion
- 5. 72,000 house sales 2014 down 10% from PY Total value of residential property sales $38 billion in 2014 down 5% from PY
- 6. 9,500 active licensed real estate salespeople Generated $1.3 billion in commission fees in 2014
- 7. The average real estate sales person earned $45,000 in 2014
- 9. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
- 11. TECHNOLOG Y impact on real estate
- 12. EVOLUTION THUS FAR TODAY FUTURE IMPACT
- 13. 2004
- 14. 2004
- 15. HOME BUYING
- 16. AGENT CENTRIC • Every aspect of real estate transaction
- 17. GATEKEEPERS OF INFORMATION • Printed brochures • Sales information • Location addresses
- 18. CAR & PHONE
- 19. PROPERTY ADVERTISING • Limited information • Single photo • No address • Agent role as gatekeeper
- 20. AGENT RELUCTANCE • Internet 10 years • PC’s 20 years
- 23. 439 Houses for Sale
- 24. 2004 - 2014
- 25. 2005 • Maps
- 26. 2007 • Images
- 27. 2009 • Social Media
- 28. 2009 • Social Media - Agent Voices
- 29. 2010 • Video
- 31. 2010 • Mobile
- 32. 2011 • Premium Advertising
- 33. 2012 • Tablet
- 34. New Zealand Lagging global innovation
- 36. PLATFORM EXTENSION • Zillow
- 41. EXPERIENCE • 3D - Matterport
- 42. EXPERIENTIAL • Totally immersive experience
- 45. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
- 46. REAL ESTATE IS MASSIVELY INEFFICIENT • 2/3rd of time spent prospecting
- 47. GENERIC FEEL • Undifferentiated • Buy the brand? • Buy the agent?
- 48. PROSPECTING • How do I find an agent?
- 49. AGENT ATTRIBUTES • Proven track record • Local market experience • Relevant sector experience “Someone who has sold a house like ours, recently, in this area and achieves a fast sale at or above the market”
- 50. WHAT LIES BEHIND THAT SMILE? • How transparent is the real estate industry?
- 51. DATA IS KEY
- 52. LOCATION SIZE PRICE STYLE Number of listings Number of sales Asking price / Sale price Days on the market Quality of content Premium advertising Marketing performance Social ranking Lead generation
- 59. Real Estate It’s all about data
- 60. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
- 62. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
- 63. PHOTOGRAPHY
- 64. SIGNAGE • Still relevant
- 65. LEVELLED THE PLAYING FIELD
- 66. 90% OF BUYERS ONLINE • Trade Me Property • Realestate.co.nz
- 67. DAY 1 IMPACT • Fast decay meanings timing is everything
- 68. TECHNOLOGY • The enablement of tomorrow’s real estate
- 69. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
- 70. FACILITATION • Persistance • Emotions • Persuasive
- 72. THERE WILL ALWAYS BE AGENTS • They may just act differently and be better informed, skilled, trained
- 73. AGENTS WITH NEW SKILLS SUPPORTED BY TECHNOLOGY