Elite Agent Issue 25 Oct-Nov 2018 FULL

THE PERFECT PIECE OF THE PUZZLE PAGE 26

WHERE HAS ALL THE CASH GONE? PAGE 30

FROM TWO-WAY TO HIGH TECH PAGE 58

#25 NOVEMBER 2018

THE ANNUAL TECHNOLOGY

ISSUE

The robots are here – is your business ready?

Big on data Edward Smyth

WINNING THE COMMUNICATION GAME // THE SUBSCRIPTION ECONOMY // HOW TO ATTRACT MORE BUYERS // THE FUTURE OF THINKING // HOW DEXAR ARE CAPITALISING ON AI

READY WHEN YOU ARE ELITE AGENT is now delivering online short courses for real estate professionals in partnership with MRT (RTO 41529), including CPD courses for NSW Agents.

Wide range of course choices for agents at all levels.

Study on your desktop or tablet; learn on the go!

Show off your credentials by adding them to your LinkedIn profile and email signature.

VISIT ELITEAGENT.ACADEMY FOR MORE INFORMATION

+ Industry magazines for Real Estate Agents and Property Managers

Issue 25 November 2018 eliteagent.com | eliteagent.academy SAMANTHA MCLEAN Managing Editor samantha@eliteagent.com

Be the Elite

Connect and share with a group of passionate and motivated industry professionals, read the latest online, see what our writers are talking about and much more.

MARK EDWARDS Publisher mark@eliteagent.com

DEPUTY EDITOR Hannah Blackiston hannah@eliteagent.com

JILL BONIFACE Sub-Editor jill@eliteagent.com

FEATURE WRITER Cassandra Charlesworth cassandra@eliteagent.com

SAVIN HENG Executive Assistant savin@eliteagent.com

DESIGN/ART DIRECTION Veronica King veronica@eliteagent.com

SUBSCRIBE eliteagent.com/subscribe

+61 2 8854 6123

subscriptions@eliteagent.com

International subscriptions can be purchased via iSubscribe.com.au

FIND US ON FACEBOOK

BUSINESS MAGAZINE OF THE YEAR WINNER 2016 | FINALIST 2017 BUSINESS EDITOR OF THE YEAR WINNER 2015, 2018 | FINALIST 2016, 2017 BUSINESS MAGAZINE COVER OF THE YEAR FINALIST 2018

facebook.com/eliteagentmag facebook.com/groups/humansofrealestate/

FOLLOW ON INSTAGRAM

instagram.com/eliteagentmag

SIGN UP TO OUR NEWSLETTER, #THEBRIEF eliteagent.com/subscribe

ADVERTISE IN ELITE AGENT

eliteagent.com/advertise

SEEN SOMETHING WE’VE MISSED?

newsroom@eliteagent.com

BASS Publications Pty Ltd

(a subsidiary of A Bit of This Publishing Pty Ltd) ACN 169 805 921 Postal Address: Suite 904, 121 Walker Street North Sydney NSW 2060 Telephone +61 2 8854 6123 Registered by Australia Post/Print Post 100020180 EDITORIAL SUBMISSIONS The publisher welcomes editorial submissions from individuals and organisations within the real estate profession. The publisher reserves the right to edit, modify, reject or contribute to the content of the material provided.

EDITORIAL DISCLAIMER: Some opinions expressed in Elite Agent are not necessarily those of its staff or contributing editors. Those opinions are reproduced with no guarantee of accuracy although Elite Agent endeavours to ensure those opinions and comments are factual.

SEEN ONE OF THESE?

Don't panic, it's just a good old fashioned QR code. Scan these with your QR Code reader app to go straight to additional content online.

Our subscriber list may sometimes be made available to relevant brands who might be of interest to our readers and from time to time we may be in touch to inform you of new Elite Agent products and services. Please visit eliteagent.com/privacy for details on how we collect and use your personal information. Please email subscriptions@eliteagent.com if you would rather not receive these communications. © Elite Agent 2018. All rights reserved.

CONTENTS

NOVEMBER 2018

Regulars 004 EDITOR’S LETTER Samantha McLean 008 READER PROFILE Steven Richter 010 IN CASE YOU MISSED IT Hannah Blackiston 012 THE WATERCOOLER Hannah Blackiston 014 THEY SAID IT Highlights from the podcast 016 EVERYONE'S TALKING ABOUT Are you missing out on leads?

024 DATA INSIGHTS Eddie Cetin 026 PEOPLE PARTNER Sarah Dawson 028 MINDSET CORNER Jet Xavier

26

030 BUSINESS MATTERS John Knight 032 ASK THE COACH Claudio Encina 058 AGENT PROFILE Jane Doogan 064 THE HOME STRAIGHT Mark McLeod

First Person 018 FOR THE LOVE OF TECH Josh Phegan 020 WINNING THE COMMUNICATION GAME Caroline Bolderston

022 BECOMING THE EASY CHOICE Pancho Mehrotra

34

Cover Story

034 BIG ON DATA Edward Smyth, NGU Real Estate

48

Features 038 THE SUBSCRIPTION ECONOMY Andrew Hermann 040 THE ROBOTS ARE HERE Kylie Dulhunty 044 HOW DEXAR GROUP ARE CAPITALISING ON AI Cassandra Charlesworth 046 BUILDING CUSTOMER LOYALTY Anton Babkov 048 HOW TO GET MORE BUYERS THROUGH YOUR LISTING Emma Barr 050 THE FUTURE OF THINKING Chris Helder 052 HOW TO MAINTAIN YOUR AGENCY'S VALUE IN A SOFTER MARKET Mark Sinclair 054 10 ESSENTIAL TAKEAWAYS FROM DIGITAL LIVE Cassandra Charlesworth 060 A WINNING PROPOSAL Blake Williams 062 HARCOURTS BUILD A PLATFORM FOR PEACE Kylie Dulhunty

eliteagent.com 3

EDITOR'S LETTER ecently, in the US, a law firm found itself in hot water for using locationbased marketing around hospitals.

They had geofenced an Emergency Department, allowing them to target advertisements toward patients’ phones for their personal injury litigation services. I’m sure someone thought it was clever marketing to a bunch of semiqualified prospects.

Wow. Technology continues to enable us as consumers and professionals in ways we might never have imagined five years ago. It has given us tools to know who we market to with astonishing clarity, target customers with a laser focus and take advantage of nontraditional revenue streams. But

scope of buyers or tenants who will or won’t see ads based on their race, religion, sex, disability or other interests.

HUD's Assistant Secretary for fair housing and equal opportunity, Anna María Farías, said, “When Facebook uses the vast amount of personal data it collects to help advertisers to discriminate, it's the same as slamming the door in someone's face.”

We’re taught discrimination is bad in the workplace and in other areas of life – but, playing devil’s advocate for a second, isn’t that exactly what we’re taught is the right thing to do in terms of targeting the ‘right’ market for a product or service?

In an episode of Netflix’s Black Mirror (Nosedive) we see protagonist Lacey trying to rent an apartment in a community where a high social score is needed to apply. In some

ON THE SURFACE, PROXIMITY MARKETING IS A GREAT SOLUTION TO BUILD YOUR DATABASE, BUT YOU HAVE TO REMEMBER THOSE NAMES BELONG TO REAL HUMANS. there is plenty of potential for the best-laid plans to go pearshaped.

As this is the annual technology issue, grab a cuppa, get comfortable and let’s unpack a bit some of the tricky topics.

Would discrimination creep in?

Most of the industry has cottoned onto the fact that you can micro-target buyers (and sellers) on Facebook through advertising matching personal characteristics with property features.

Recently the US Department of Housing and Urban Development (HUD) filed a complaint against Facebook, saying it’s not cool for landlords and home sellers to limit the

4 ELITE AGENT • NOVEMBER 2018

respects, it sounds great, but in others is downright scary.

With housing the touchy social subject it is, what really defines discrimination and to what extent is it okay?

Beacon of hope… or flames?

Proximity marketing or locationbased marketing, as per the hospital example, has been around for some time. For the uninitiated, a physical ‘beacon’ is installed in a location that can send consumers push notifications to their phones within a marked radius. Retail stores have been using them for some time via their apps to let you know about specials when you walk into a store.

It’s already in real estate

too. US firm Compass recently ‘reimagined’ the real estate sign, to connect with passersby. They say, “We see [it] as a part of a connected ecosystem of devices managing the sale of homes in the future. Everything from open houses to digital lockboxes.” And, if you have the Compass app on your phone, guess what – it will send you a push notification asking if you want more information about a home. The sign can connect agents to potential buyers through Bluetooth, and it can also help direct buyers who may not be near the home through a navigation system similar to Google Maps.

As with the legal example, this also has the potential to upset a few people as it pertains to property. What if you had a beacon in one of your listings in close proximity to a competitor’s listing? Would it be ethical for you to send push notifications to people around (or in) your competitor’s listing to divert their attention to yours? And then what goes through the mind of the customer who might be feeling as though they are just being flat-out stalked – is it really the experience you want to leave a potential customer with?

Whose data is it anyway?

Who out there wants to share data? Not many of you, I’m guessing, once you’ve worked hard to acquire it. Plus, with Privacy Laws and GDPR in the EU, and the fact that nobody here seems to want to share their health records – you would be forgiven for assuming nobody wants you to share the data you have about them, either. But that may change.

A couple of years ago, I interviewed Matt Kuperholz, PwC’s Chief Data Scientist on the topic of personal data,

who owns it and how it gets used. His view on sharing data: “People, when presented with something that they value, are quicker to disregard intrusions into perceived privacy than when you don’t offer them something of value.” Meaning if I get something of value as a consumer from you for giving you my data, I’m going to thank you rather than think you’re annoying me with your irrelevant marketing.

When you order a Domino’s pizza you’re asked if you would like to opt-in to travel, insurance and other offers. If you were ever wondering why Domino’s are able to deliver pizzas as fast and as fresh as they do for that low, low price, it’s likely these adjacent revenue streams are part of the reason. And maybe I do want cheap insurance with my pizza… so permission granted.

A couple of years ago in our report ‘Get ready for 2020’, one of our participants suggested a similar thing might occur in real estate. Sell a property at zero per cent ‘traditional’ commission, but with the new ‘commission’ of sharing names (with permission) with adjacent service providers. I remember jaws dropping at the suggestion, and even as I write this now the thought still seems radical – but not impossible. Would you like a lounge with that?

None of this applies to me Technology as a business enabler makes prospecting/ finding new customers and developing new business models easier than ever before. But its implementation has to realise a valuable win for all parties.

The names you are collecting belong to real humans. What is the advantage to them for giving you their data? And how

will that outweigh the cons of a new age of interruption marketing?

The answer is to build trust by providing not just value, but significant value.

Let’s now reimagine a consumer holding your beaconenabled real estate app. The app provides plenty of other benefits; for example, walking them through a quick Q&A of information about the neighbourhood, collaborative offers and discounts from local businesses, easy to access information on the property, easy ways to contact the office that links into any rental ledgers or outstanding maintenance requests, information about the environmental features of the property and estimated running costs. Maybe it also offers an easy way to track sale and settlement between all parties; the list goes on. I think I kinda like this app; has it been created yet? And yes, I would happily hand over my details in return for the ability to use it.

As you’ll see in this issue, there are plenty of shiny tech objects out there for you to test, and there will be plenty more on the horizon. But with great technology comes great responsibility, and you must remember to use your new magical powers for good.

JOSH PHEGAN

SPEAKER / TRAINER / COACH

20 CAROLINE BOLDERSTON COACH, BEING BOLD

How would you describe your relationship with tech?

Conflicted! I love what tech brings to the world and how it has advanced how we work and communicate and the speed with which it happens. I don’t love that everything is immediate and the expectations that come with that. Whilst tech seems to bring the world closer in many aspects, I feel it also distances us from one another.

PC or Mac? PC. Always been a Windows user, love their software programs and the Microsoft Surface line of tablets and laptops are amazing. iPhone or Android? iPhone. This is a funny one as I think I was the last person that I know to leave my blackberry behind and go to an iPhone 5. I have been hooked ever since and I can’t believe I resisted it for so long! I still thought a mobile as a device for calling and SMS! I now upgrade pretty much every year and love my iPhone X! Three apps you can’t live without?

Drive My whole business is on Google Drive and I love it. I can access, edit and share docs with my clients from my phone any time Voxer My favourite communication app! It means fast, efficient communication with my clients (and my husband!) and it has eliminated the endless phone ag that sucks so much time Maps Means I am never late to a coaching session, training event or speaking engagement.

What piece of future tech are you most looking forward to?

Definitely driverless cars. As I am mobile and on the road a lot, I cannot wait to be able to use that car time to work and communicate with my clients and community.

6 ELITE AGENT • NOVEMBER 2018

How would you describe your relationship with tech?

Healthy. Use what works, discard what doesn’t.

PC or Mac? MacBook Pro. User experience and reliability have been amazing. Keynote is also a killer when you’re speaking at over 208 events a year. iPhone or Android? iPhone X. For its ease of use, battery life and quality of photos.

Three apps you can’t live without?

Calendar I live by this app. If it’s not in the calendar it doesn’t happen Spotify Because music is a great mood enhancer so you feel like doing more of the work

18 Membership App Jumping in to review the latest short course or Black and White interview.

What piece of future tech are you most looking forward to?

On/off switch after a big few weeks to just chill.

CONTRIBUTORS TALK TECH EDDIE CETIN CEO, AGENTBOX

How would you describe your relationship with tech?

Some people have a love/hate relationship with tech, mine is definitely a love!

24

PC or Mac? PC. Definitely more suited for true business applications overall. iPhone or Android?

Android. I like the flexibility of the platform and have a better experience with the Google ecosystem.

Three apps you can’t live without?

Slack Being a tech company it's almost de rigueur to have this collaboration tool. Having said that, the time and cost savings to have all your business units and team conversations at your fingertips are incalculable. I could never work using only email again.

Email I don’t think I have to explain the benefits of being able to respond to client emails from anywhere. Chrome Instant

access to anything from anywhere.

Knowledge is power.

What piece of future tech are you most looking forward to?

I am looking forward to contextual voice search/interactions using AI and machine learning. #BringbackHAL9000.

48

52

MARK SINCLAIR MANAGING DIRECTOR, REALESTIMATIONS

How would you describe your relationship with tech?

Committed to heavy daily use with normal business tools, CRM system, accessing news services, social media and music.

EMMA BARR

OWNER AND FOUNDER, ILEADS How would you describe your relationship with tech?

Definitely a constant battle for balance! I try to be 100 per cent present in all aspects of my life, so I actively try not to check or be on my phone when it’s not needed. However, I am very acutely aware that my business is technology based so in some ways I do need to be present and aware at all times.

PC or Mac? Mac all the way! The design aspects and editing software that I use on my mac by far outperforms anything I have ever had on a PC. Plus once you go Mac you can’t go back!

PC or Mac? Mac - more reliable, less prone to problems/glitches, ease of use and a more enjoyable working interaction and experience. iPhone or Android? iPhone as it’s in sync with every other apple device I use; its features for both work and private use are pretty seamless.

Three apps you can’t live without?

Reminders I need to keep on top of my To-Do lists for clients News I like to keep up with what’s going on in the world.

Spotify Music is one of life’s soothers and

What piece of future tech are you most looking forward to?

Major advancement in medicine, specifically for the eradication of all cancers.

ANTON BABKOV CEO, REXLABS

iPhone or Android? iPhone. The simplicity and functionality of an iPhone have always drawn me to them, plus the fact that I can so easily sync with my laptop makes the decision easy.

How would you describe your relationship with tech?

Love it. Hate it. Can’t live with it, can’t live without it.

Three apps you can’t live without?

Health I am always trying to make sure I am keeping my fitness up and stepping away from the computer to make sure I am averaging 10,000 - 15,000 steps per day Camera I am constantly snapping pics of my son Email Always staying connected and trying to keep on top of my emails when on the go is something I strive towards.

What piece of future tech are you most looking forward to?

I love the idea of faster flights around the world, maybe seeing the planes go up into orbit for a few moments to allow a Sydney to London flight time to decrease to a couple of hours! It would just open up the world and allow us to visit family and friends more regularly!

allows me to de-couple from the rigours of business.

PC or Mac? Mac. I’d like to say it’s because I like the software… but I just think they’re the prettiest. iPhone or Android?

Both. I carry one of each.

46

Three apps you can’t live without?

Headspace for perspective Slack for instant communication Pocket for customer information, anywhere - anytime.

What piece of future tech are you most looking forward to?

Elon Musk’s human to AI brain interface.

Read more about it @ Wait But Why.

eliteagent.com 7

READER PROFILE

FINDING YOUR TRIBE As a part-time sales consultant for Elders Brown & Banks in Hobart, Steven Richter says he’s constantly learning and growing. Working in a boom market alongside a great team, Steven finds inspiration both at home and from the real estate community he’s built around him.

Tell us a bit about yourself and your role.

I’m currently employed as a part-time sales consultant, at one of the oldest residential real estate agencies in Hobart, Elders Brown & Banks.

My role here is to help people achieve their goals when it comes to the buying and selling of property. At the moment, it’s a huge learning experience for me.

NGU Real Estate and their CEO, Emil Juresic. That bloke is an absolute weapon! Other people that inspire me are Marty Fox, Ant Manton, Conor Canning and the master himself, Mr Phil Banks, our principal. There needs to be an honourable mention to Gillian Allen, our business manager at Elders Brown & Banks. I’m so grateful for her help and support.

In your ‘briefcase’ right now is…

I use a simple notebook. I’m finding that, if I write things down with a date and time, I will remember things better.

My AirPods, iPhone, iPad and Apple Pencil. Plus, the most important thing I believe everyone should have is the humble pen.

Something you couldn’t live without?

Memories. In this day and age, it’s easy to forget the moments that bring us pure joy. Also my family; not just my immediate family, but those who have chosen to share their journey with me.

What motivated you to get into real estate?

Money - and a strong desire and willingness to help. It’s all too often that the buying and selling process of a home can be daunting for some people.

What is the market like in your area right now?

The market in Tasmania is absolutely booming! Places like Launceston in the state’s north have had an excellent last quarter in sales. Hobart is also holding its own too. Places like Glenorchy and Moonah are fast becoming the suburbs to watch.

Who or what inspires you?

My wife. She's confined to a wheelchair with spina bifida, but if anyone has shown me that anything is possible, it’s her. I’ve also been following

8 ELITE AGENT • NOVEMBER 2018

“It’s all too often that the buying and selling process of a home can be daunting.”

What do you enjoy most about Elite Agent?

The insights into all things property. Success stories, training events; it’s just a good read all-over.

“This is your journey; make it a good one, a memorable one.”

What advice would you give someone starting out in real estate?

It can be hard at times, but stick with it. I’m lucky the people in my office, both in front and behind the scenes, have been helping me heaps. Get yourself a mentor too.

Any words to live by?

Try to relax as you live your life.

Pause for the moments, live with the memories. This is your journey; make it a good one, a memorable one. 

A simpler way to advertise real estate on social media and across the web.

It’s online advertising for real estate, made simple.

It’s super fast.

It’s intelligent.

It’s targeted.

Advertise your agency, your listing, or yourself with a single click.

marketing spend.

Together, Spoke, Rex and Siteloft form the full

Easily target specific locations and the people

solution for creating interest and driving traffic,

most likely to be interested in what you’re offering.

retargeting, capturing leads and closing a sale.

Spoke’s ad performance formula continuously tweaks your ads based on their performance, to ensure you’re getting the most out of your

spokeapp.io

powered by

rexlabs.io

IN CASE YOU MISSED IT...

A round-up of the biggest stories in real estate by Elite Agent's Deputy Editor Hannah Blackiston.

Got a story for us? Email hannah@eliteagent.com.

DEPT OF FINANCE

B

etween interest rates and the Royal Commission, the banks have been taking a real PR hammering lately. This, the experts say, is the reason Westpac decided to throw caution to the wind and commit to an out-of-cycle rate hike. Within the week CBA and ANZ had joined in, leaving just NAB holding out at the time of writing.

It’s a bit of a ‘damned if they do, damned if they don’t’ situation, because rate hikes always bring angry consumers – but at this stage the banks can’t really get any lower in trust as far as the public is concerned. In addition, they’ve been crying poor for a while now; hikes were predicted well over a year ago, so it was an inevitable evil. If NAB can hold out a bit longer they might see themselves becoming very popular in the short term.

PURPLEBRICKS DEBUTS NEW OFFERING

P

urplebricks were in the news plenty this month. Firstly there was the appointment of new COO Neil Tavender. You might not know the name, but he’s done the real estate rescue job before with UK-based Rightmove. Think of him as The Fixer – he comes in, stays a few months and leaves having completely turned the business around. Secondly, shortly after Mr Tavender’s appointment, Purplebricks announced a new service offering in Australia, so he’s clearly making his presence known. Watch this space.

PETS OF REAL ESTATE

With a Facebook feed full of the usual industry lists in August, we felt some FOMO about not having a list of our own this year. Not being big believers in judging industry professionals based on gender, publisher Mark piped up and said, “We should have a 'Pets of Real Estate' list!"

And we were inundated with pics, from Tracey Ashley’s world-famous fur baby Tiffany Ashley to a random chicken sent in by Transform 2018 winner Sam Bevan. So a big thank you to everyone who sent something, you made us smile. And, as promised, a digital cheque for $140 is on the way to the RSPCA as pledged for each pet that appears opposite. Next year it could be a calendar… who knows?

Real estate minimum wage increases twice in one year

One of the other stories making waves online is the real estate award rate changes. The minimum rates of pay for real estate employees have now been increased twice in one year. Then there’s the new broad-band classification structure, which sees employers having to reclassify employees and pay them accordingly. Unsurprisingly, it’s left a lot of people confused – so we decided to tackle the problem head-on with our first PopUp Magazine event. If you’re still not sure who should be being paid what in your business I’d urge you to head to our site and check out Bryan Wilcox’s articles via the QR link.

10 ELITE AGENT • NOVEMBER 2018

THE IMPORTANCE OF GOOD CX

T

eam Elite also spent the month doing the conference run with Ray White Connect, Digital Live, ARPM and The Business of Real Estate, all within a few days of each other. You can read our takeaways online, but the main thing has been about customer experience. If you don't have someone looking after customer experience, and only customer experience, you'll need to sort that out to compete in the new world. There are some agencies out there doing CX very well, and they’re definitely seeing the difference it makes. 

Tracey Ashley's dog Tiffany REMAX United Vision

Anne Brown's dog Mischa Bayside Real Estate

Nicole Garnham's dog Archie Real Estate Dynamics

Erin Nettos's dogs Hugo and George Real Estate Dynamics

PETS of

Janelle Gleeson's dogs Rory and Gracie Combined Camden Sam Bevan's chicken Myrtle, Realmark Coastal

Sue Lehmann's dog Pippa First National Action Realty Ipswich

REAL ESTATE

Sonya Treloar and Harry Ray White Bridgeman Downs

Thanks to everyone who sent in a photo of their pet. We've donated $10 to the RSPCA for every fur and feathered friend on this page.

Cate Bakos with Suzi and Henri below Cate Bakos Property

Peter Wong's dog Koby P & G Mode Realty

Terri Colless' horse Brumby, VILLAROSA Real Estate eliteagent.com 11

THE WATER COOLER

Our daily newsletter #THEBRIEF brings you the latest real estate news, tech and marketing tips straight up every day.

In case you’ve missed anything, here are some of this month’s trending stories.

Subscribe to #THEBRIEF eliteagent.com/subscribe.

STREAMLINE PROPOSALS AND PROCESSES

R

ealtair is a digital platform designed to revolutionise the real estate back office process, a fully integrated administration system that supports agents and businesses from prospecting through to settlement.

Pitch by Realtair makes it easier than ever before to build impressive pre-lists and proposals that your clients will love interacting with. It comes integrated with all the tools agents already use: CRM, marketing quoting and property data engines.

Flow by Realtair provides agents with the tools and support to guide them through the sales process. It enables agents and businesses to spend less time on administrative tasks and more time doing what they do best – all while gaining visibility and transparency over each process and doing it all from the palms of their hands.

Realtair is available through Campaigntrack; visit realtair.com for more information.

Local startup bringing home innovation from London’s tech hub

R

exlabs, a home-grown product house best known for its real estate CRM system, Rex, has opened its first overseas office in Shoreditch, London.

Having a base in the UK means Rexlabs gets on-the-ground knowledge – a benefit for every Rex user across both continents.

“There are lots of things we can learn from the UK market, and we’re very excited to be in a position that allows us to crosspollinate innovation,” said Chief Technology Officer and co-founder Alex Babkov.

Current Rex users are likely to notice some exciting changes in the coming months.

“Investors are backing our expansion, providing us with more resources that we can pour into new features,” Alex confirmed.

RAY WHITE LAUNCHES FIRST MAJOR BRAND CAMPAIGN IN NETWORK HISTORY

R

ay White has partnered with Sydney-based creative agency DO to launch a new brand campaign. The campaign explores the Great Australian Dream and is the epitome of Australiana, taking a light-hearted look at some of the idiosyncrasies of our great land with tongue firmly in cheek.

This is the first time Ray White has created a major brand campaign in its 116-year history. The campaign launched nationally in cinemas and online on 15 September 2018. It aims to help the brand become synonymous with the property dreams of Australians – whatever they are.

Renowned Australian actor Rhys Muldoon stars in the campaign, which was filmed in country Victoria and directed by Simon Harsent of Pool Collective. Ray White Group Head of Marketing Lisa Pennell said the network set out to make something truly great that went beyond the traditional real estate category.

“The brief to our creative agency was that we wanted to make a campaign that had the Ray White brand as its heart but that all Australians could connect with,” Ms Pennell said. 

12 ELITE AGENT • NOVEMBER JUN – JUL 2018 2018

Listed A web series featuring experts, insights and places Two years ago, Holly Komorowski took the leap and started her own agency, home.by holly, finding innovative ways to connect to her audiences on an emotional level.

In episode 13 of Listed, Holly describes how backing herself has helped her succeed in a crowded market.

Watch the series online now at agent.realestate.com.au/listed eliteagent.com 13

THEY SAID IT...

Our weekly podcast Elevate brings you exclusive interviews and behind the scenes coaching and analysis to help you list more, sell more and elevate your results.

Subscribe to ELEVATE eliteagent.com/elevate.

ALISTER MAPLE-BROWN BRIAN & PAUL WHITE

"You put on your hat, and you walk up and down Queen Street, and you talk to people..."

From 'The Shed' in Crows Nest where it all began, Brian White AO and Paul White, Joint Chairmen of Ray White, remember their grandfather Ray, their father Alan and the growth of the company from one Shed to over 1,000 franchisees.

14 ELITE AGENT • NOVEMBER 2018

“What we’re doing right now is to provide groups of businesses, as well as individual businesses, some really rich reporting and insights into their data. This will allow them to get some strong insights from which they can make adjustments in their business, which is ultimately what the data is for.”

Alister Maple-Brown, CEO of Rockend, talks excellence in customer experience, becoming an employer of choice, what businesses should be looking for in moving to the cloud - as well as his own leadership journey, how innovation decisions are made and what’s next for Rockend.

MICHAEL SHEARGOLD “In my opinion, great leaders want people who are going to be part of the business for a long period of time. You keep the people and you will keep the profits. You lose the people, you will lose the profits. It’s that simple.”

Michael Sheargold, CEO of Real Estate Results Network and Founder of Drive Performance, talks about some of the trends his clients are seeing, current coaching topics, how to deliver real points of difference in a changing market, and improving team performance.

KATE STRICKLAND MICHAEL LOVE

“I think sometimes when you get knocked around, or someone gives you feedback or guidance…It’s because they care! So they’re seeing potential in you and they’re wanting to invest their time and knowledge in you. That’s a privilege.”

Kate Strickland, Director of Marshall White Bayside, talks about her journey in leadership, how to keep your energy levels up, whether or not there is a place for ego in real estate and her routines for success.

MARK MCLEOD

“The great agents have an ability to enhance or be part of the conversations that occur when they’re not in the room.”

“We need to make sure that we’re always offering a good service to our clients. I think that is often a fundamental piece when making a business decision. ‘How will this benefit our clients?'”

Michael Love, Director of Love & Co, talks about his family’s history in real estate, what he has learned from his father and grandfather on service and ‘giving back’, how he employs and retains the best staff and his advice for fellow industry leaders.

Mark McLeod, Chief of Growth at Ray White, has some great advice about the approach agents need to take in slower markets, the ‘sequence of sale’, how to have the right conversations at the right time - and tips for aspiring leaders.

eliteagent.com/elevate ALSO SEARCH FOR ELITE AGENT ELEVATE ON ITUNES, STITCHER AND SPOTIFY eliteagent.com 15

EVERYONE'S TALKING ABOUT…

ARE YOU MISSING OUT ON LEADS? Gina McCartney

Rachel Morley

AROUND 60 PER CENT of agent profiles on

realestate.com.au are ranked number one in Google, so if someone is searching for you chances are your agent profile will be the first thing they see. There are 32,0001 agent profile visits on realestate.com.au every day, yet according to REA internal data, only 40 to 60 per cent of profiles are complete, with 25 per cent of seller2 enquiries getting no response. Samantha McLean talks to realestate.com.au’s Rachel Morley, General Manager for Leads, and Gina McCartney, Executive Manager of Marketing & Events, about what’s in the pipeline to help agents connect more meaningfully with both buyers and sellers on the platform, and how to get the most out of these new products.

16 ELITE AGENT • NOVEMBER 2018

I

f you’re a real estate professional, looking for more qualified buyers and sellers, it stands to reason that improving your presence on realestate.com. au, where there are millions of buyers and sellers every day, can help greatly.

Over the years, realestate. com.au have invested a great deal into researching consumer behaviour to understand the issues that can make or break a listing; for example, a listing without a price, or lack of floor plan, can cause some potential buyers to move swiftly on.

Now the research and data science has turned to figure out whether consumers are buyers or sellers, with a view to enabling better consumer experiences – and better lead sources for agents.

Both Gina McCartney and Rachel Morley say that it’s a combination of artificial intelligence and analysing specific consumer browsing behaviours on the site that suggests whether someone is ready to buy or sell. And they are using this data to help agents connect with more people looking for property services.

“We may think you're a

seller,” says Morley, “if you’ve claimed your property and you’re looking at agent profiles in your area or even other properties [at the same time].”

Earlier this year, realestate. com.au told us about a series of products called Agent Edge, including Elevate (boosted agent profiles) and Match (connecting qualified sellers to agents), to help agents build their personal brand. Coming soon are things like Agent Reviews (free), more features on Elevate and the third Edge product, ‘Reach’, which will allow agents to retarget consumers who have visited their profile across the web.

Differentiating agents in the eyes of consumers

“Our strategy, which we thought long and hard about,” says Morley, “was to make sure that we focused on helping agents present themselves professionally and to differentiate themselves in the market.”

Agent profiles help tell an agent’s story by displaying experience, achievements, properties for sale/sold, videos and contact details. With an average of 32,000 visits to agent profiles every day, it’s those with a clarity of purpose and messaging who are standing out.

WE JUST WANT TO KEEP GOING UNTIL OUR CUSTOMERS ARE LIKE, ‘THIS IS JUST AMAZING’.”

“It’s about your target audience; what drives them, what motivates them and what you bring to that audience,” says McCartney. “It should be your goal not to try to please everyone, but focus on what you mean to a certain group of people.”

1 Supplied by REA, Adobe Analytics: average daily visits to realestate.com.au agent profiles (1 Jan 2018 to 17 May 2018) 2 Meaningful Agent Study, REA 2018 3 Omniture and realestate.com.au analytics data: average increase in agent profile page views comparing at least 30 days pre- and post-activation of Agent Elevate (July 2018) 4 http://www.leadresponsemanagement.org/lrm_study

Increasing frequency elevates brand recognition

“When we launched Elevate, one of the key tenets of that product was partly about classic, 101 marketing; increasing access and frequency to a relevant audience in my local patch,” says Morley.

And the results so far have been excellent, with agents who have signed up to Elevate receiving on average 32 per cent more views3 on their agent profile page and being seen by 33 per cent more consumers.

But there’s more happening for agents with ‘elevated profiles’: a brand presence in the Weekly Wrap emails, a presence in the search results carousel (similar to the current property carousel), and also in mobile push notifications.

“We have a weekly email that goes out to around 500,000 consumers called the Market Wrap. In that email, properties appear, but the agent name, their company brand and their faces don’t. Elevating the agent profile in there will give them that extra visibility,” says Morley.

Right now, the 13 million or so push notifications that occur every month off realestate.com. au’s mobile platform don’t have an agent presence, but that will also change for elevated profiles.

“At the moment,” says Morley, “the consumer will see so-and-so has an updated inspection time, messages like that. Right now those notifications don’t have an agent presence, so inserting an agent presence in there is pretty epic.”

Reaching for more

In addition to the ongoing work on the Elevate product, there is more happening to enhance the current Match product – particularly in understanding the right time to help a seller engage an agent.

“I think there’s a huge opportunity to allow people [searching for an agent] to have so much confidence they take that next logical step,” says McCartney.

“We’ve got some great tools, but let’s get the customers the right tools at the right time.”

Reach, the third product in the Edge series (yet to be released), will allow agents to retarget visitors to realestate. com.au with a relevant ad on other mainstream websites, including news and social media sites, encouraging them to visit that agent profile or agency's profile again.

“Reach will be quite different from Audience Maximiser as a product,” says Morley.

“When we retarget a property, the ad creative in remarketing is more straightforward.

“But when we are talking about promoting both brands and individuals, the creative needs to be simple to use but really reflect the individual or company voice, too. For instance, to help an individual agent curate messages that gel with their personality and their local community.

“Our aim for Reach is to make it easy for users to amplify their brands across the web professionally and creatively.”

Another feature agents and consumers have been demanding is ratings and reviews, which are also coming soon to agent profiles.

Morley says this product will be available to all but, unlike Facebook and Google reviews, agents will have more control – especially when it comes to ‘fake’ reviews.

Says Morley, “I’ve heard a lot of agents say, ‘I can deal

TOP TIPS FROM RACHEL MORLEY TO ENSURE YOU DON’T MISS LEADS

1 with a bad review; that’s life.

What I can’t deal with is my competitor down the road just having a go, and being disrespectful to my business.’”

As for Elevate, the phrase the product team use regularly, Morley says, is to show ‘undeniable value to agents’ as they continue to build its functionality.

“The way we will do that is to add value in two ways; one, to keep adding placements that get the agent’s face out there and increase brand memorability, and two is to provide important data insights.

“Can you imagine a LinkedIn view of your agent reporting, where I can see who’s viewed my profile? Not down to the personal details, but let’s say two sellers from Richmond are looking at properties between one and 1.5 million dollars.

“This allows you to analyse your marketing and further hone in on that audience you want to attract.

“We just want to keep going until our customers are like, ‘This is just amazing’.” 

Complete all the fields on your profile; don’t overthink it. Get the basics done and revise it later if you need to.

Review your data. As consumers can filter by property sales and median sales price, it’s essential the data flowing through to realestate.com.au is accurate.

The number of sold listings determines your order in search results.

Review your office processes for dealing with incoming leads. Two of the biggest reasons leads get missed, Morley says, is because they inadvertently end up in spam filters, or an incorrect judgement is made based on the email subject; for example, an old listing address might be a legitimate prospect.

Bring your personality and things that make you unique to your profile – for example, your recent accomplishments.

Follow up fast. Morley says, “According to a lead response study4, enquiry responses within five minutes are 100 times more likely to win the business. So it pays to be quick!”

2

3

4 5

For more information about Agent Edge visit agent.realestate.com.au/products/agent-edge/ To update your agent profile visit agent.realestate.com.au/products/brand-leads/agent-profiles/

eliteagent.com 17

FIRST PERSON

JOSH PHEGAN

+

For the love of tech Eric Shinseki said it best: “If you don't like change, you're going to like irrelevance even less”. Josh Phegan takes a look at the future of real estate in a fast-paced world.

T

he last 10 years have radically reshaped the way we live. The adoption of mobile phones, socialisation of our relationships and the amplification of remote work have also changed the way we do business.

Software is eating the world. What was once done by a team of people is being automated, forcing fewer people in the process to deliver the service. It's changing job roles to be more human, personalised and intimate. We have all the information we need at our fingertips, thanks to Google, meaning that consumers don't need another market report, update or agent in their street today. Instead what they need is someone who's prepared to ask the questions around their dissatisfaction and vision, to help the customer make the first steps.

With the adoption of tech, we're making appointments faster to build rapid rapport and helping customers to make decisions face to face.

It's forcing the industry into a corner. In our rush to be amazing on social, we've forgotten the basics of what makes a business move. To be successful in business you have to make sales, and the first sale that's made every day is booking the appointment.

No one's asking what happens when we get to the point of digital saturation – we're already here. More and more effort is needed. Before I put in any technology, I ask, 'What's the problem we're trying to solve?'.

Plenty put in tech or go all-in

NO ONE'S ASKING WHAT HAPPENS WHEN WE GET TO THE POINT OF DIGITAL SATURATION – WE'RE ALREADY HERE. 18 ELITE AGENT • NOVEMBER 2018

Josh Phegan is a highperformance real estate speaker, trainer and coach to some of the best agents and agencies around the world. For more information visit joshphegan.com.au.

on social before they ask the question or even define if the problem’s worth solving.

What the savvy agents are doing is building out the tech to automate the workflow to deliver on their customer experience.

And this where you need to start.

Define your brand. It's not a logo; it's a set of customer moments that are either carefully curated or not. Think in moments, then see what technology you can use to automate and improve them for the customer. In the UK, online appointment booking is a massive driver, yet it's hardly taken off here in Australia.

Most of the offshoring we're seeing happen in the property management and sales administration spaces will end up onshore again as automation makes those roles redundant, or the consumer forces a more human experience for the fees we demand.

One thing that's certain is that technology doesn't recognise booms or recessions; it just makes progress. In your business, I'd be surprised if you didn't already have 20-plus applications in what's called your app stack. It could be as simple as Dropbox for file storage and Slack for team communication. Your app stack is allowing your workforce to be more remote, yet the evolution of the workplace with global workplaces like WeWork suggests we actually want to be together to do our work. What we're building is flexibility, and a mobilefirst approach to make working on the road between appointments even easier.

How can you automate your workflow?

The app stack that you're using today is great for now, but what other parts of the workflow process can you improve? One of our clients has automated the listing process. When he enters the appointment in his diary using LAP at the start of the appointment title, that triggers in Zapier to start a process in Process St, which then also triggers a direct message in Slack to his administrative assistant to prepare the recent sales data. It's simple but shows you how you can improve workflow.

User adoption still matters People hate change when it happens to them, but they love change when they are a part of it.

Think before you bring that next app to the sales meeting, and ask some simple questions: 1. What's the problem we're trying to solve and is it worth solving?

2. What's the vision for what it will look like fixed?

3. Who will it impact? And how do we champion their passion for the problem?

4. What's our action plan to implement?

5. Do it.

This is a profoundly human business amplified by the use of technology that works. It should speed you up, not slow you down. Clunky systems are just that. Design from a mobilefirst approach, and watch your business thrive. 

FIRST PERSON

CAROLINE BOLDERSTON

+

Winning the communication game Mixed messages within your team can cause more damage to your business than you realise. Caroline Bolderston looks at how you can minimise the confusion and wasted time in your office by communicating smarter.

T

he more I work with agent teams (of all sizes) the more convinced I am that communication is the underlying problem to many frustrations, disappointments and confusion – not to mention wasted time with interruptions, crossover and repeated information.

As you may know, I am obsessed with reducing wasted time and increasing productive time, so I am always looking at ways to improve communication. Here are my top five.

1

DAILY WIP Now don’t be alarmed: there is no physical danger to this one! WIP stands for Work In Progress. Hold a five to 10-minute stand-up meeting with your associate or team members first thing every morning to update and set clear expectations for that day’s outcomes. This will avoid any crossover or misunderstanding about deadlines and important deliverables.

2

URGENT ACTION VS DOWNLOAD You know the drill: you have a million things going around in your head and, as the day progresses, events occur that require action and followthrough. Instead of interrupting and bombarding your team members every 10 minutes to download your thoughts and clear your mind, adopt the strategy of running this filter: Is this urgent action or a download?

If it requires urgent action then, yes, interrupt so that your team can spring into motion. If it is simply a download for something later that day or week, then choose the best communication channel for it and download that way.

20 ELITE AGENT • NOVEMBER 2018

Caroline Bolderston heads up the Being Bold Coaching Academy and provides coaching and support for principals and sales leaders. For more information visit beingbold.com.

3

EMAIL Email was designed to deliver information. It is very effective when there are details, data or specific information that needs to be provided to another person. Emails should not be used for urgent action, so decide carefully whether this is the right channel for the message.

If email is the right channel and you need a response or an action to it, then be clear on who is responsible for executing and address the email to that person.

Only CC others if they need to be aware or across what is going on.

Many times I have received an email where several people are in the To: field, and the email opens with, ‘Hi, could someone please ensure that...’. The problem here is that ‘everyone’ will leave it to ‘someone’ and nothing will happen.

EMAIL, SMS AND TEXT MESSAGES ARE GREAT IN MANY INSTANCES, BUT VERBAL COMMUNICATION IS OFTEN THE BETTER CHOICE.

4

WHATSAPP Many agent teams and even whole offices have adopted this application for

group text messages, video calls and sharing media. It is a free application and uses wi-fi so doesn’t take up all your phone data. You can set up specific groups so that communication threads stay unique to that group or topic, and it removes crossover, repetition and double handling.

Great for when you are out on the road and need short, sharp communication.

5

VOXER This very clever and functional application is the one thing that has truly revolutionised my business and how I operate. Email, SMS and text messages are great in many instances, but verbal communication is often the better choice. If tone is 38 per cent of effective communication, it can take a lot of thought, punctuation, emojis and rewriting to get a written message reading the right way.

Enter Voxer – simple voice messages that are instant and replayable. No longer do you need to play phone tag all day to reach someone who usually hasn’t listened to your message anyway, and then have to repeat it. Talk about a waste of time!

Voxer is instant; you can see when your message has been heard and you can receive instant voice messages back to you that you can pick up as soon as you are available. #DONE! 

THE NEXT GENERATION OF TRAINING IS HERE

RTO #41529

• MORE EFFICIENT • MORE MOBILE • MORE INTELLIGENT

PROGRAMS AVAILABLE

• Certificate of Registration / Agent Representative • Licence and Diploma Programs • Continuing Professional Development

FIRST PERSON

PANCHO MEHROTRA

+

Becoming the easy choice

How many times have you experienced a vendor or buyer being in two minds about making a decision? Have you ever been torn between two options and chosen the path of least resistance? Pancho Mehrotra explains the scientific reason for this and how to make your clients see you as their preferred option.

L

et's say you have been invited to a corporate event but the football game is on and you don’t really want to miss it.

What do you do?

You justify to yourself that missing one event is not going to jeopardise your work commitment and really, no-one will mind one absence.

This is what psychologists call cognitive dissonance. Two thoughts in conflict and you choose the one that creates no internal conflict.

Most salespeople don’t recognise cognitive dissonance and see it as a deliberate stalling technique. The fact is, the client reacts this way often due to feeling under pressure by the salesperson, which they see as a challenge to their beliefs and identity as a person.

So, what do you do when you recognise this indecision in a prospect?

Be mindful that often when people are faced with too many choices, they become paralysed and do nothing at all. If you see that the client is in two minds about choosing an agent, make it easy for them to say yes to you by giving them reasons to go with you. Build value by informing the client of three key things you do better than anyone else.

22 ELITE AGENT • NOVEMBER 2018

Here are things you can do to overcome clients’ indecision

Pancho Mehrotra is the CEO of Frontier Performance and a recognised leading expert in the area of communication, influence and the psychology of selling. He has worked with top performers in a number of industries, including real estate, automotion, finance, law and academia. For more information visit frontierp.com.au.

1

Don’t provide too many options or choices. Two to three is all you need.

2

Provide examples or situations which enhance your image in the eyes of the client. This will make the client comfortable in associating with you. This is yet another reason why top agents win more business; because their client sees their self-image being validated or enhanced by association.

3

If you see that the relationship isn’t a good fit for you, make it easy for them to say no. Be upfront about it. You will find it liberating and you will gain confidence in this new-found freedom of not needing a deal.

The dual benefit here is l you make it easy for the client to make a decision by taking all the pressure off them, and l they will consider you an ally rather than someone with the unpleasant association of putting pressure on them. The result is you'll either be a favourable choice in this transaction, or if not this time, they'll reach out to you in the future.

BE MINDFUL THAT OFTEN WHEN PEOPLE ARE FACED WITH TOO MANY CHOICES, THEY BECOME PARALYSED AND DO NOTHING AT ALL. We are now moving into the area of understanding the psychology of the client. Be aware that everyone’s decisions are influenced differently, so a standard script will not work for everyone. You require a high level of awareness to sense and see the change in the client and listening skills to be able to tailor your response to their key requirements. 

BE AWARE THAT EVERYONE’S DECISIONS ARE INFLUENCED DIFFERENTLY, SO A STANDARD SCRIPT WILL NOT WORK FOR EVERYONE.

MultiArray

Our wage module specially designed for the real estate industry can be used with other third-party CRM and accounting software.

Thousands of employees in the real estate industry are being paid under this simple and powerful system.

Retainer Management Suitable for Commission Only Sales Staff Auto Generate Commission Statement Auto Tax Calculation on Commission Payment

Visit multiarray.com/payroll

for more information 1300 720 881

OFF THE SHELF PAYROLL SYSTEMS DO NOT SATISFY THE REAL ESTATE INDUSTRY REQUIREMENTS!

OUR EASY TO USE PAYROLL SYSTEM DOES!

PROPERTY MANAGEMENT SALES ADMINISTRATION CRM, WEBSITE DESIGN

DATA INSIGHTS Eddie Cetin is the founder of Agentbox.

For more information visit agentbox.com.au.

The Hunger Games With the cyclical nature of real estate, there will always be different conditions around the corner – but there’s no satisfaction in downing tools and giving up. Eddie Cetin looks at what you should be focusing on to successfully tackle a tighter market.

T

hroughout most of Australia’s major cities, one factor rings true: market conditions have changed. As any seasoned agent knows, change is immutable. It’s the only thing you can rely upon.

Signs that change has hit your agency include fewer properties coming onto the market, longer days on market, lower auction clearance rates, circumspect buyers and fewer overseas investors. Paired with conservative credit conditions, it’s easy to begin feeling disempowered as an agent.

Stop. Right. There. You can and will thrive in 2018’s changing market! Market changes are the Hunger Games of the real estate industry, as tougher conditions result in less-talented and lessmotivated agents leaving the business. This is an opportunity for those who are organised, focused and motivated.

Here are four ways to conquer the market using your natural talent, hard work and technology to focus on the people who matter most right now.

THIS IS AN OPPORTUNITY FOR THOSE WHO ARE ORGANISED, FOCUSED AND MOTIVATED. Work your buyers

l Review email reports to see

l Create a follow-up plan for your

‘click’ activity and observe which buyers show most interest in your listings. Follow the most enthused up with a call. l Use technology to build buyer profiles, ranking them in order of motivation. Sophisticated CRMs help you work large databases and make more connections. l Arrange private inspections wherever necessary to make the sale, building genuine rapport. l Help buyers understand that now is the time to buy. They’ve less competition and vendors are more open to negotiation.

last year of prospective buyers and OFI attendees. l Build a manageable call list of buyers with your CRM, and allocate three hours to calling this group per day. Make notes and create follow-up tasks for each prospective buyer. l Build real EQ around purchasers: establish their motivation for buying. Understand their budget and non-negotiables. This time spent with buyers builds rapport and helps you match listings accurately. l Send them automatic, relevant email alerts from your CRM. Ensure alerts are set for new listings and price changes to your existing stock list. l Contact ‘hot’ buyers weekly (those who want to purchase within three months) and ‘warm’ ones monthly (those who want to buy within three to six months).

24 ELITE AGENT • NOVEMBER 2018

Serve your vendors l Communication is critical

in a shifting market where vendors are uncertain. Educate consistently around changing market conditions in their area with recent results. l The real market feedback they need to hear is from the

prospective buyers walking through the door. On top of your regular phone call, make sure you also send a well-structured vendor report with detailed buyer feedback and outline other factors that are influencing the price or days on market.

Build your rent roll l Take every opportunity to

build your business value by adding clients’ existing or newly purchased investment properties to your rent roll. Rent rolls are your saviour in a fluctuating market. l Have ready investment information on hand for purchasers, such as current rental appraisal and recent rents achieved for similar properties. l Show collateral that demonstrates how your property management department is the only one to work with.

Drive efficiency in your agency l How can you improve your

business whilst reducing costs? l Assess your processes and consider how efficient they are. Do you have too many manual tasks? How can you use technology to better serve and reduce double handling? For example, a good CRM will allow you to automatically feed buyer leads from portals into your CRM and avoid duplicates. This task alone can save hours of manual data entry per week.

The key to riding the real estate market’s peaks and troughs is commitment to a considered plan. It’s time to do the work and communicate, communicate, communicate! 

Your Free Mobile Desk Stand Is Waiting For You. Simply order your installation by 31 October 2018, and you will receive a complimentary VML A4 Mobile Desk Stand.

This exclusive offer also includes: • $250 credit on wide format printing; and • Free delivery and install (Metro areas only)

To claim, visit vitrinemedia.com.au/offer

Unit 11/24 Vore Street Silverwater NSW 2128 +61 (0)2 80686273 infoaustralia@vitrinemedia.com

V I T R I N E M E DIA AUSTRALIA

PEOPLE PARTNER Sarah Dawson is the Head of Growth at Real+.

For more information visit realplus.com.au.

The perfect piece of the puzzle Many companies are now opting to find their own staff rather than rely on an outside recruiter – but Sarah Dawson says this is because they’re looking at recruiters in the wrong light. By encouraging them to be part of your business, you can benefit from their expertise while still finding the perfect fit for your team.

T

he generalised reputation of recruiters enters a room well before the consultant does. In fact, the taglines ‘no recruiters please’, ‘we aren’t using recruiters any more’ or ‘thank you, we will contact you if we don’t have any luck’ are often the first words we see on advertisements when job hunting. The reason for this is that there’s a mistrust, due to bad experiences or doubts over the motivation of a recruiter.

When you understand a business it’s easy to find the right fit – the missing piece of the puzzle. If you are looking for someone to partner with your business to help you find the missing pieces, whether that be a person, an operational service or to build a plan around upskilling your team, it is important that you feel comfortable with the level of interest the prospective consultant shows in your business.

“WHEN YOU UNDERSTAND A BUSINESS IT’S EASY TO FIND THE RIGHT FIT – THE MISSING PIECE OF THE PUZZLE.” Share your vision: what is it that you are trying to achieve?

Talk through your business plan and your opportunities for improvement. When you share this information you are opening yourself to receiving a different

26 ELITE AGENT • NOVEMBER 2018

perspective. There may be an opportunity for repurposing of staff or a revised team structure to ensure you are maximising growth and focusing on the need that has to be filled rather than just the role.

Share your culture: what is it like to be part of your team?

Discuss the engagement activities and the general team vibe so that it’s easy for your consultant to picture the type of human that will fit into the office and feel comfortable. People spend most of their waking time at work – they need to be happy, feel safe, respected and enjoyed.

Share your success: what does this look like for you and how can you help your next team member be successful? Things like the assurance of kicking goals and winning recognition, whether that be through process improvement, sales wins, new business, leasing properties – regardless of the area – help a team member feel appreciated.

Having a clear understanding of how a team member can show their contribution will help your consultant engage the right talent.

Often we hear concern regarding keeping good talent.

I think it is important to feel reassured that you are aligned with your consultant and that the intention is for everyone to be working towards the common goal of keeping an employee engaged and onboard. If there are early signs or red flags for either party you should feel assured that there is an open line of communication for everyone to work through opportunities to improve, so that the financial and physical investment is honoured and given a chance before making any decisions on next steps.

People placement is not a one-size-fits-all. It’s important to work together with people you trust in sharing your business journey, to ensure you find the missing piece of your human puzzle. 

MINDSET CORNER Jet Xavier is one of Australia's leading mindset coaches for real estate sales professionals. For more information visit jetxavier.com.

Five tips to build a sustainable business With the cyclical nature of the property market, agents can’t always be working in a boom. Jet Xavier looks at how you can strengthen your game and build a sustainable business.

A

fter years of rising growth, which some would say were boom market years post-GFC, things were bound to re-adjust.

During the good times, we saw the emergence of the milliondollar agent and TV shows of the same name. Seminars and coaching all reflected this new breed of agent and what was possible in real estate – including French champagne and fast cars.

The challenge for some agents is that they only know what a great market looks like, where it’s been relatively easy to sustain a career and make it work.

However, things have now changed and the message is to cut the fat and strengthen the muscle.

As one of Australia's most successful principals, Chris Hanley, says, in the real estate business you’re either in a headwind, a tailwind or no wind… and we’re currently in a headwind. Time for reinforcements.

1

Master the mindset They say the market is between your ears, and this is true. You need to realise any

creating realistic, sustainable expectations that empower and inspire you, not drain and overwhelm you. Sometimes our ego gets the best of us and we aspire to grandiose plans that are unattainable and place unneeded stress and pressure on us. The smart thing to do is look at your market, decide what you think is possible over the year and work towards that.

4

market has houses for sale; it’s whether you’re going to be the one selling the most houses or not. The good agent is out there getting the most market share they can every day, regardless of the market. You need an abundance belief system and an optimistic outlook to remain ahead of this game.

2

You need to care, really care Buyers have been neglected for so many years; however, they are the sellers of the future and all the big players in the industry have clearly focused strategies around buyer care. When

28 ELITE AGENT • NOVEMBER 2018

CARING IS THE NEW 'BLACK'. everything turns again it will be the buyers who have become sellers that you will need to build success. Caring is the new 'black' in performance; now is the time to reach out to past and present buyers and show you really care about them.

3

Expectations are everything It's not about lowering expectations; it’s about

Yes, patience is a virtue Leo Tolstoy said two of the most powerful warriors are patience and time. Right now you need both. When things slow, the patient agent rises. Rather than react to the market, be patient and let the market react to you.

Your patience at this point in time will allow you to take stock and plan critically what you need to do to make it through.

5

Productivity is king Now is the time to increase your dollar productivity and take it up another level. Your discipline, efficiency and effectiveness will lay the platform for growth.

While others allow themselves to slow, with a market like this you need to speed up. Double your prospecting, increase your profile, maybe invest a little more in marketing, do more training, build more relationships. Set yourself up to be the one on the spot when the market eventually turns again, which it will. 

Elevated customers receive 32% more views on their Agent Profile page* *Omniture and realestate.com.au analytics data, average increase in agent profile page views comparing at least 30 days pre and post activation of Agent Elevate (Jul 2018).

BUSINESS MATTERS John Knight is the Managing Director of businessDEPOT, a team of energetic accountants and advisors. For more information visit businessdepot.com.au.

Where has all the cash gone?

There are several reasons why your profit margin and your cash in the bank might not match up, which can be frustrating. John Knight looks at some of the things that may be draining your bank account.

N

o one expects you to work for nothing, but principals are often surprised by how much they really take out of their business in a year.

The answers are hidden in your balance sheet but, because this is rarely looked at or understood, you are left in the dark.

If wages or commissions are taken from the business by the principal it will impact the reported profit.

One of the most common questions asked of accountants is around the difference between cash and profits. Usually, it goes something like this.

‘John, you are telling me I made half a million dollars in profit but let me tell you, I don’t have half a million dollars in the bank.

Where has all the cash gone?’

In the real estate industry, there are typically a couple of key reasons to explain the difference between your reported profit and the cash in the bank.

assets or capital 3 New improvements

Bought a new printer or renovated the office recently? If these costs are funded from cash flow, it can be another reason for the difference between profit and cash. Often these purchases are capital in nature and usually cannot be treated as an expense on the P&L.

4 Tax payments

Whether you are behind with your tax bills or not, usually the profit discussed or reported is the profit before tax. If you haven’t paid your tax in advance for the year, often your tax bill does not arise until the following May for the financial year that ended almost 11 months earlier. If you have had a big lift in profitability or you haven’t paid your tax on a quarterly basis, catching up on old tax bills (including old BASs) will often explain where all the cash has gone.

5 Principal-funded vendor advertising ONE OF THE MOST COMMON QUESTIONS ASKED OF ACCOUNTANTS IS AROUND THE DIFFERENCE BETWEEN CASH AND PROFITS.

1Loan repayments

The interest portion of a loan repayment goes to the P&L, but the repayment of principal of a debt does not. Principal debt repayments need to be funded from after-tax cash flow, so often this explains a large portion of the difference between profit and cash.

30 ELITE AGENT • NOVEMBER 2018

2Owner’s drawings

If wages or commissions are taken from the business by the principal it will impact the reported profit. However, if you take drawings, loans or dividends from the business these will not.

No one expects you to work for nothing, but principals are often surprised by how much they really take out of their business in a year.

Many a principal denies funding advertising for a vendor but, for whatever reason you choose to fund advertising for a client, it does happen and can build up to quite a sizeable amount. Think of these amounts as loans you’ve made to your vendors, because essentially that is what they are, and if they grow during a period it can certainly be a strain on cash flow.

One of the reasons why business owners often struggle with this question is because the answers are hidden in your balance sheet but, because the balance sheet is rarely looked at or understood, you are left in the dark.

A simple thing to do is look at the movement in the balance sheet from one date to the next – this typically will disclose all the answers to the question, ‘Where has all the cash gone?' 

In your life there is always one summer that changes you...

transform

ASK THE COACH Top coach Claudio Encina answers your questions on being more direct with your prospecting and getting back the drive for growth.

Q

What questions should I be asking to be more direct with people on my database this spring? Calvin Stewart, Ballard Property Double Bay

A

Spring: The weather’s getting better (in most places) and people want to be in their new homes before summer and Christmas. So it’s superimportant that you make sure you’re generating leads, going on appointments, taking listings, putting buyers under contract and selling a lot of homes!

Here are some real cutthrough questions to ask your prospects: l When do you see yourself doing something? l If I come across a good buyer should I give you a call? l I know you’re not selling, but I would love to see your place. Are you around this Friday or would the weekend suit you better? l Do you have any real estate plans in 2019, either buying or selling?

Sincerity, politeness and brevity, combined with a solid knowledge of your market, are the makings of a successful sales call. Follow these tips and watch your selling productivity rise this spring.

SINCERITY, POLITENESS AND BREVITY, COMBINED WITH A SOLID KNOWLEDGE OF YOUR MARKET, ARE THE MAKINGS OF A SUCCESSFUL SALES CALL.

Q

I've achieved my goals for the last couple of years and feel like I have lost the drive.

Any tips to help me rediscover it? Mario Esposito, McGrath Dee Why

A

This happens with so many agents; we accomplish a goal and we think, ‘OK, what’s next?’ Just recently I was working with a client who had hit his first million GCI. After all the hoo-ha he felt lost as to where to go next.

I asked him to consider his big ten year dream - it's important to wake up excited knowing where you want to be in the future. Understand the difference between busy work and your life’s work, which is your 'big dream'. To reach your 'big

32 ELITE AGENT • NOVEMBER 2018

dream', or any dream for that matter, your approach has to be intentional. When you change to be more intentional every day, you become more attached to the 'big dream'; when you are less intentional about it , you become unattached and less inspired, and before you know it another year has gone by.

Life is short. We’re only allotted so much time to make our mark. I say that’s all the more reason to get focused. Determine what outputs really matter to you at this stage in your life; chart your five fastest moves to accomplish your 'big dream' and make it happen while getting insanely good at what you do.

From there, the world is yours.

To get unstuck, decide what you want, the biggest goal or

dream you need to plan out right now, and write it down. l Write down the emotions you will feel when you reach it l Determine the five fastest moves that will help you leap forward towards that goal l Think of five people who have achieved that dream whom you can study, seek out, interview or model l Decide the less important activities or the bad habits you’re going to cut out of your schedule so that you can focus more on your 'big dream' l What part of the day will you schedule for distractions, such as emails, texts and so on, and not allow distractions to schedule you? l Think of three skills you could develop that would help you feel more confident or capable l What simple steps could you take to improve those skills? l What five moves will you focus on between now and the end of the year to achieve a level of accomplishment?

When you reach your smaller goals, remember they are part of the big dream you are chasing.  To have your question answered email askthecoach@eliteagent.com.

To connect with Claudio visit claudioencina.com.

This summer could completely ‘t r ansfor m’ you.

30 DAYS HOW LET US SHOW YOU STEP BY STEP OVERRKETING TO TO ‘TRANSFORM’ YOUR DIGITAL MA LEADS. BUILD YOUR BRAND AND GENERATE Registrations open 15 October Class starts 15 November ttransform.com Spaces are limited register at eliteagen

transform (di gital!)

cover story

Big on data WITH A BACKGROUND IN FINANCE, having traded

companies on the stock market in London, NGU Gold Coast co-director Edward Smyth is a natural at both business and technology. He’s only been in real estate for two and a half years, but in that time has shown a passion to exceed every client’s expectations and has demonstrated his keenness to share knowledge and help others. Given his background in risk management, it’s no surprise that data plays a large role in both lead generation and marketing a property to reach the maximum number of buyers. Story by Samantha McLean.

E

dward Smyth hasn’t been in real estate that long, and entering the industry wasn’t initially on the cards.

“When I was younger I wanted to be a professional footballer; my dad used to be one,” he laughs. “I’ve played for my country [Northern Ireland], but then my dad said that I wasn’t good enough – so he sent me to university!”

High grades at school in English Literature, Economics and Politics gave Smyth the opportunity to choose from a range of disciplines when it came time to go to university, including Law and Politics.

But on 11 September 2001 the world saw an act of terrorism like never before, and Smyth decided instead to study the world of risk management and finance. This led to his first job in investment banking with Morgan Stanley, where he was once again a quick study and swiftly headhunted by a firm in London.

“Fifteen hours a day, five days a week I'd sit with eight computer screens, two phones, just staring at the stock markets – analysing and digesting the moves and

34 ELITE AGENT • NOVEMBER 2018

finding smarter and faster and quicker ways to deliver the information through science,” says Smyth.

Making the move

After a period of time running his own derivatives trading desk, three years ago he made the move to Australia – but with clients in Europe and the Middle East, along with working in a different time zone, the days were long.

“I just lost the passion for it… there was so much terrorism going on that it didn’t feel right. If an airplane blew up I could either make my clients a lot of money, or alternatively I’d lose lots of money; neither one was sitting right.”

At a career crossroads, Smyth started selling real estate part time to see if it was the right move for him.

During that time he met his business partner, Karen Stewart, who happened to sell him a house. Stewart has been in real estate for more than 15 years so, Smyth says, their skills complement one another.

“I didn’t want to be a ‘normal’ real estate agent, because I’d get bored. I don’t cold call and I don’t door knock. But I love big data, and I love the move towards AI and I felt that there could be a fit.”

Acquiring and nurturing leads

“In real estate it's not hard to acquire data; it's what you actually do with it that counts.

It depends on your systems,” says Smyth, with his team using REX as a CRM, along with lead-nurturing programs.

“Using these tools, we’re communicating to the database in ways that the database wants to be communicated to, whether that’s text messages, emails or phone calls.

eliteagent.com 35

cover story “We’ve moved away from mass marketing and more getting into the nitty-gritty, servicing people with the information they require.”

Using these tools to their fullest extent is the domain of Operations Manager Shannon Greaney, who has set up some clever automations, tracking each lead so Stewart and Smyth know when one needs to be followed up.

But Smyth acknowledges that technology will never replace the human touch.

“Technology increases the probability and frequency of you getting in touch with more people, either face to face or with phone calls. Agents just need to make sure they don’t hide behind technology and thinking it’s going to garner the most business. It’s actually just a way to increase your opportunities.”

And more good news; Smyth also says you don’t have to make 100 phone calls every day.

36 ELITE AGENT • NOVEMBER 2018

“Shannon tries to get me to connect with 20 people every day and add three new people to the database; that’s my KPI. “I don’t sit with scripts; I just get on the phone and try to peel back the onion, try to provide value and try to provide a service.

“When I say I don’t cold call, I genuinely don’t think I do. My version of a phone call might be [to] someone who came through Karen’s open home five years ago. I’ll call them up and say, ‘Remember you came to that open home? We’ve got another one in the area’… and then take it from there.”

That said, Smyth also says that if you’ve got nothing to say, don’t make the call – but with one caveat, which he delivers with a wink.

“If you’ve got nothing to say, then you shouldn’t be in real estate. There is always something to say.”

Building the database

Although still relatively new to the industry, Smyth has already gained a reputation for getting out there to mentor and help other agents.

His advice for new agents is to keep moving with the times.

“You can't just come up with an idea and sit back and think it's going to make you successful. You can't drop 4,000 flyers and think you're going to get five listings. You've just got to do all of it all the time – and don't stop.

“What's really important for a new agent, the key to real estate, is you've got to match sellers with buyers.

That's it. That's what we do really well.

“If you are a new agent, get some old open home books – everybody has old open home books, any company you ever go to – and call them. Update the database. Find out where they are at now.”

Then it’s time to start building relationships. Smyth says he is working on a project in one of his postcodes to find out exactly how many houses there are in the area vs how many were on the market.

Then you can match the names and add them as Facebook or LinkedIn connections.

“I can digitally chat to these people every day, sometimes two or three times per day,” he explains.

An important part of the strategy to build the database is using Rex Pocket Kiosk App. “What we do is, if someone comes to an open home we get first name, last name, email and phone – unless they specifically tell us they don't want to give their email.

We always ask for it.

“Once we get their email, it goes in to the Rex CRM right there and then, so the person will get an email saying, ‘Thanks for joining us. Can we get to learn a bit more about you? Are you upsizing, downsizing, investing?’

“By the time that they've got home on a Saturday afternoon, they have the opportunity to tell us where they are in the real estate cycle.”

The next step is to get on the phones on a Saturday afternoon or on a Monday to follow up.

“We might say something like, ‘Thanks for filling out the information. I know that you're looking for a townhouse up to the value of $700,000. Can you tell us a bit more? Is there a kind of style, location, whatever?’"

Yes, that is a real snake in the penthouse

NGU have a reputation for their creativity in the property video arena and many of their videos have gone viral, some in a short space of time. There is an in-house team dedicated to creating videos for NGU. “Emil (Juresic), who’s the CEO of NGU, is a big believer (as we all are) in social media, and we spend a lot of time there.

“The other thing is with digital I can retarget some of the people that have shown interest in one of our properties.

“It's like when you look for a holiday in Fiji and then all of a sudden these holidays in Fiji keep jumping up on your screen; we're that for real estate.”

What is really important, though, is that the marketing appeals to your intended buyer audience.

“Our rationale is that, number one, it’s not about us. You see our videos; sometimes they might be a bit provocative, with the fast cars and the girls. On the Gold Coast, we’re now moving towards more of a family-type vibe.

“The best thing that Emil does for us is he supports us in our ideas and gives us complete creative freedom. He would never say, ‘Don't do that,’ or, ‘That's stupid’.

“I did a video for a penthouse that Emil and I were co-listing in Surfers, and I asked the girls if we could get a tiger in it.

“We couldn't get a tiger because we weren't allowed, so we managed to get an alligator and a snake. But that was pretty cool!”

Once Smyth has a rough idea of the buyer demographic, the whole team get involved in the creative process. Generally, he says, they will agree with Wells Emberson (from the media team) three things about the property to focus in on. It can be as little as 48 hours between inception and launch, but as long as the client is happy that’s all that matters.

“One Friday we sold a property at 5:15 pm, which was a new record for Burleigh Heads. By 8:30 pm, I had a video to go out, which was the sold video.

“I’m lucky I've got Shannon, Karen and Sean with me, by my side. It’s the team that produce all this stuff to make me look good.”

Marketing property on Facebook While Smyth spends a lot of time on Facebook, he says he doesn’t overthink it as the algorithm is always changing.

“Content-wise, I use whatever is in my head that day. I don’t have a big grand strategy or plan. If I’ve got new listings I post the video and photos and I sponsor it; but make sure you’re sponsoring ads through Ads Manager, not just boosting posts.

“I’ll run three different ad sets, as an example. One might be a carousel, one might be just the photos, one might be the video. Whichever one is performing best, I’ll add budget to that one.”

But you also can’t just set and forget.

And don’t forget Smyth is an expert at data analysis from his previous career.

“I’m constantly analysing ad performance; every day I’m reviewing and managing it personally. It’s too important to outsource. If a client gives me $10,000 for Google and Facebook, all those funds go into Google and Facebook.

“If I outsourced it they might only get $5,000 or $7,000 in actual advertising, because you’ve got to pay the outside company. That’s actually one of our listing tactics, that we will manage it for you so you’ll get all your money in marketing.”

"Don't make the call if you've got nothing to say. But if you've got nothing to say, you shouldn't be in real estate.

There is always something to say."

Communicating with multiple stakeholders The rise of teams has seen the increased use of collaboration apps, and Smyth says some of his favourites are Wunderlist, Basecamp and particularly WhatsApp. “Most times we will have multiple agents on the property, and those agents will be speaking with all parties involved.

“There's a lot of information that can be lost in communication when you're talking to one party and they don’t speak to each other until later in the day.

“What we like to do is get both agents and the clients in the same chatroom and then boom, we keep all the communication together. Whether that's iMessage or WhatsApp or whatever. It means that I don't have to turn around to Sean and go, ‘Have you updated John Smith?’ and vice versa. There is no double handling of clients because we are constantly communicating and can see what’s happening in real time.”

Standing out from the crowd

Smyth feels that where tech is headed in real estate is more and more automation.

He says his next move is working on an automated enquiry system, so when people send through a realestate.com.au or a domain.com.au enquiry there is an automatic response system that provides information about a property – including things like strata fees, council rates, size of the block and other useful information.

“I really want to automate that; that's my next thing,” says Smyth. “How do you get to more people more quickly based on what they want?”

But standing out will be the big challenge.

“If someone has been to ten open homes, and everyone sends an automated email after the fact, that’s ten emails the potential buyer is going to get. What makes yours special?”

In fact, what will make you stand out, Smyth says, is being able to hone in on what the client wants using technology to execute your strategy.

“That’s how you win the future war. In my opinion!”  SAMANTHA MCLEAN

eliteagent.com 37

THE

SUBSCRIPTION

ECONOMY

HOW MUCH TIME have you spent staring at a computer

that won’t turn on, or trying to save files from a server which seems to have crashed forever? Andrew Herrmann says newer tech procurement models like Device as a Service can remove a lot of the pain agencies regularly face in dealing with tech.

A

s real estate owners, directors, principals and salespeople we have a lot on our plates – not only overseeing the day-to-day operation of a business, but also listing and selling property which, ultimately, is the most important part. One of the last things we need is to deal with an old PC, laptop or server crashing when we’re in the middle of a presentation or prospecting for the next listing.

The good news is times are evolving very quickly, especially in the Device as a Service (DaaS) space. Many real estate offices are employing this new way of purchasing which allows them more time, productivity and cost-benefit - not just at the end of hardware life, but from the very beginning.

What is DaaS?

The DaaS model allows you to buy your hardware on a subscription basis, ensuring you have the latest equipment which is refreshed regularly without the upfront, out-of-pocket expense.

38 ELITE AGENT • NOVEMBER 2018

What are the benefits of DaaS? Predictable costs

By having a per-month per-device cost, agencies are able to predict the average cost per month. It also means there is no large capital expense when employing new staff or refreshing old hardware.

Hardware refresh

So many businesses hold off on updating to the latest technology as the capital expense is too great. With DaaS, the devices can be refreshed every 24 or 36 months to ensure staff are using the most up-to-date technology.

Scalability

The ability to scale with current business trends is huge in the real estate world and having the ability to add devices as needed quickly allows the business to adapt to the changing markets.

Device management

One of the greatest benefits is that staff can save precious time and resources looking for help when something goes amiss. The ‘S’ in DaaS stands for service, so support is only a call away and can be handled quickly.

Standardised environment DaaS allows us to keep a standard operating environment, so all staff have the same equipment. This saves huge amounts of time for IT teams when trying to troubleshoot problems as all staff are using the same hardware

Sexy offices

Looks may not seem important, but first impressions do matter. Having the latest equipment means having an updatedlooking infrastructure when buyers or sellers visit our offices.

By outsourcing hardware procurement to a DaaS supplier, real estate agencies can take away the unexpected costs and issues that come with IT hardware and focus on the dollar-productive activities that we all prefer to do – selling more real estate. 

Andrew Herrmann is the Director of EFEX. Through his real estate and technology experience, Andrew has been able to help agencies save money and improve office efficiency. For more information visit efexgroup.com.au.

FIONA B SAMAN

MATT L

JOS

MASTE LIE

HA RIS NL

RS

N

CH

JU FROM REVIEWS TO REFERRALS

LA LESSONS FROM 22 PAGE

BEST IN CLASS PAGE 48

LEARN FROM THE

#18 JUN-JU L 2018

THE BEST LEARN FROM 2018 #23 JUN-JUL

How to build your brand online

Sean Hughes

GENERATION N TO GENERATIO AREC 2018 It’s a wrap

BEST

LA LAND

THE LEARN FROM AY 2018

S REAPS BACK TO BASIC 56 REWARDS PAGE

BEST

#22 APR-M

A GAMivin E g OFThr DRONES ugh thro

boom and bust

THE D-WORD

LING

SEL PROPER TY R MANAGEMYOU ENT E TRU IN THE YEA R RTH WO

2058

Enhancing employee experience

TAKING THE

13

CIA 0 L PY IT REALL OU A70 WHAT DOES GESPAGE VE GE TAKE TO CHAN NIR S

ED ITIO N

SALES

THE LEARN FROM THE NUMBERSE #17 APR-MAY BEST 2018 GAM

MARKETING

STANEP UP THEA

TIME TO GET SERIOUS ABOUT DIGITAL

ECONOMOS

TECHNOLOGY

2018: THE YEAR OF THEE SMART HOM

IAL 8 PAGE SPEC

AUCTIONS IN ET EVERY MARK

KY L AV IE D IS

WORK

OOD AH

HEGA HP

THE FUTURE OF PAGE 40

ANOS MP

N EA

MARK

TO

SP E

AHOLICS ENGAGED WORK PAGE 22

JOHN M

AM TH CL

EY

NCINA OE

LEOD MC

CLAUDI

N LAY EY

AT CGR H

STEIN BIN

VIN RU GA

Megan

BRENT MA NS AND MICHEARTE L RAMSAY

JaffeGOLD ON

THE HUMAN CONNECTION

THE COAST

USI TECHNOLOGNGY TO BUILD CONNECTIONS

QUALITY OVER QUANTITY RELATIONSHIP STATUS: IT’S COMPLICATE D

Madonna can’t fit all her greatest hits onto one CD. Neither can we.

Become a premium subscriber and get access to hundreds of hours of never-seenbefore content from Transform, WIN2018 and more. Learn from the best in real estate with all 40+ back issues of Elite Agent + EPM. Our members-only content also features curated lists, exclusive tools, mini-courses and new releases every month. Plus - the latest magazines delivered straight to your door.

visit eliteagent.com/subscribe eliteagent.com 39

technology

THE

ROBOTS

ARE HERE Is your business ready?

40 ELITE AGENT • NOVEMBER 2018

Nigel Dalton, REA Group

Miguel Berger, Voiceter Pro

Carrie Law, Juwai

Daniel Morris, Keller Williams

It wasn’t that long ago that machine learning and artificial intelligence seemed like pie-in-the-sky thought processes of a mad scientist. Now the robots have landed in the real estate industry and it seems they’re here to stay. Kylie Dulhunty takes a look at some of the latest developments in AI in real estate industry, what benefits they offer and whether the robots will really take over.

I

t only seems like yesterday that 3D tours, virtual reality and drone photography were the latest and greatest trends in real estate technology.

Cutting edge no longer, these tools have been swiftly pushed aside for artificial intelligence including voice-activated real estate searches, Mandarin-speaking robots and a host of digital assistants.

PREDICTING VALUES

And wouldn’t you love to be able to tell your vendors approximately how much renovating their kitchen could add to the sale of their home and what the most popular styles were in their suburb?

That very technology is being created right now, with the REA Group using artificial intelligence to classify every photograph in its 23-year history.

According to Nigel Dalton, the group’s chief inventor, that’s about one billion photographs.

“We’ve trained an algorithm to recognise a kitchen from a bathroom, from a lounge room, from a laundry, from a swimming pool,” he said.

“We’ve trained it using about 100,000 photographs that we humans have classified and now we can let it loose on the other 999,900,000 photos.

“Artificial intelligence can process the data quickly and then we can look for patterns in the data.

“Is there a correlation between kitchen renovations and premium price?

“The world today is all about taking data

and serving the customer with it. Does a kitchen renovation pay off?

“This will work on the app or the website … and it will add a lot of value to agents’ conversations in terms of being able to say ‘If you leave your kitchen as it is you will put buyers off, but at the moment in Bondi this is the kitchen benchtop you need to sell your house in 30 days’.

“The data will then give people the rationale needed to borrow money to do the kitchen renovation.”

Nigel, who classified about 300 of the photographs himself, said AI was only as smart as the training behind it.

MACHINES MAKING CALLS

He said in Australia AI would be used to increase agents' and property managers' operational efficiency and while AI such as Google Duplex, which speaks just like a human and can make calls and book appointments on your behalf, wasn’t being used in real estate here just yet, it would in time.

Nigel said in the more immediate future

one to two per cent gains, particularly in the area of customer service, could be gleaned through using AI the right way.

“You can use AI to analyse your phone call data to see that your business is getting most of its calls at 5.30pm when people are on their way home from work, but you’re losing 50 per cent of those calls as you don’t have enough staff on to answer them all,” he said.

“So you then roster two more people on for that time … moving your customer service just one per cent could result in an extra five or 10 per cent market share and that could be worth a huge amount for an agency in a particular area.”

POWERED BY VOICE

Nigel said it was a misperception that AI would replace humans altogether and that, while machine learning was good for analysing data and doing repetitive tasks, people still needed to be used for their judgement and skill.

In the US voice-powered skills are shaking up AI-assisted searches in the real

“The world today is all about taking data and serving the customer with it.”

eliteagent.com 41

technology

estate industry on devices such as Amazon Alexa and Google Home.

One company, Voiceter Pro, is leading the charge with skills that allow users to search for their dream home, find out a property’s value, look for a job as an agent and help buyers and/or sellers connect with home-related services such as plumbers or electricians.

All of the skills bear the real estate agencies’ branding.

Voiceter Pro co-founder Miguel Berger, a real estate agent with more than 30 years’ experience, said when he and his software engineer son, Ami, started working on the skills in July 2015 “everyone thought we were crazy”.

With more than 54 million American households owning an Amazon Alexa or Google Home, the pair don't look so silly now.

The Real Estate Search skill asks buyers to answer a few key questions, such as the location, price bracket and number of bedrooms they’d like, before returning the top three homes that meet their criteria and pointing them to the agent’s website.

The agent also receives a link containing what the buyer searched for so they can follow up the lead.

“These artificial intelligence devices can do so much more than turn off the lights,” Miguel said.

“With the My Home Value skill owners can ask their favourite voice assistant what their home is valued at and have Alexa or Google Home come back with an approximate value and ask if they’d like one of the agency’s agents to call them for a more detailed appraisal.”

Miguel said many agencies were now opting to gift Amazon Alexa and Google Home devices to clients as closing gifts and the personally branded Concierge skill allowed them to keep their name and brand top of mind long after the sale goes through.

“Concierge allows you to connect your buyers and sellers with your trusted service or repair professionals any time they need a plumber, an electrician, an air conditioning repairer,” he said.

“You become their trusted source for this information without being obnoxious or pushing into their time.

“You’re just there when they need you

42 ELITE AGENT • NOVEMBER 2018

“Moving your customer service just one per cent could result in an extra five or 10 per cent market share and that could be worth a huge amount for an agency in a particular area.”

“Wouldn’t you love to be able to tell your vendors approximately how much renovating their kitchen could add to the sale of their home and what the most popular styles were in their suburb?” and top of mind next time they need to buy or sell.”

There’s also a Real Estate Careers skill that agents can use to find out what subscribing agencies have to offer them and ask the agency to call them to discuss the next stage in the job hunt.

Miguel said push notification technology would also soon allow AI devices to remind people of things like when to clean their gutters or if their rent was overdue.

“The technology is there … we’re currently also working on a project with a car dealership to remind people when their oil change is due,” he said.

EVERYONE HAS A BUTLER

Chinese international real estate website Juwai.com has made waves in the AI field with the launch of its Mandarin-speaking robot, aptly named Butler 1.

Juwai.com chief executive officer Carrie Law said earlier models of Butler 1 had provided security and access control at convention centres, universities and transit centers.

“The new robot will help real estate marketers provide better service to the Chinese consumers who visit their offices,” she said.

“If they don’t have a Mandarin-speaking agent on hand that’s okay, the robot can help engage with visiting Chinese buyers, obtain their contact information and learn what they are looking for.

“The robot’s AI chatbot engine will crunch data, handle basic requests and speed up processing. The robot is essentially a carrier that lets real estate sales offices anywhere in the world communicate in person with Mandarinspeaking buyers.”

The first Butler 1 is still to hit Australian shores but it is expected to do so in the near future.

THE DIGITAL ASSISTANT

America’s largest real estate franchise, Keller Williams, has created KW Labs as a product development centre, using its 150,000-plus agents.

The creation of Kelle, an AI-powered personal assistant, is one of KWs biggest developments with the technology able to provide agents with hyper-local market snapshots in seconds, manage and grow agents’ referral networks, show them their listings, track their CGI numbers, manage their contacts and follow other KW agents, as well as navigate and link all of KWs technology on one interface.

Keller Williams Director of Product Daniel Morris said more than 91,000 agents were actively using Kelle each month and he expected that to grow with the recently released market snapshots.

“Right now Kelle is a real estate specific digital assistant for our agents,” he said.

“Not just a conversational assistant, Kelle is becoming a full feature mobile app for agents too. And we’re working on more and more consumer touch points throughout the rest of 2018 and ongoing.

“Kelle is more than just a mobile app, too; it’s the intelligence of our Keller Cloud.

We taught Kelle to listen and now we’re teaching her to speak. Next is teaching Kelle to read, meaning agents will submit contracts into Kelle for easy comparative analysis, as well as other benefits.”

But fear not: the robots are not going to take the place of the real estate agent.

Keller Williams Chairman Gary Keller said consumers still wanted the “human touch”.

“They want the tech-enabled individual,” he said.

“They want an enhanced real estate agent. Enhanced by data, enhanced by the insights that data gives them.”

• KYLIE DULHUNTY

eliteagent.com 43

HOW DEXAR GROUP

ARE CAPITALISING

ON AI

FROM THE WAY WE shop to how we travel and live in our

Jeff Gray

Leanne Pilkington

cities and homes, artificial intelligence is set to impact “Over time it is anticipated AI will get every area of our lives. Its effects are predicted to be so to a point where certain transactions will disruptive that earlier this year the CEO of Google labelled occur fully autonomously.”

AI “more profound than electricity or fire” and “one of the Real estate that never sleeps most important things humanity is working on”. Amid Lumped under the banner of AI is a wealth speculation as to how these effects will be felt within real of technology that allows real estate agents a greater insight into their customers’ estate, Dexar Group and its subsidiary Laing+Simmons are behaviour and an improved ability to meet embracing the AI revolution head-on and, as they explain, their needs.

“People think of AI as one thing, when it’s quickly proving its worth. actually it’s a whole bunch of technology,”

O

n 10 August this year, Dexar Group unveiled its first sales project involving artificial intelligence.

Launched at The Grounds development in Canberra, the initiative saw a virtual assistant employed to handle initial sales queries and assist in providing real-time information.

Within two hours of the site’s launch, the team had its first sales lead. By Wednesday the following week more than 1,400 impressions had been achieved, with over eight per cent converting into conversations with potential buyers. Of these conversations, around 45 per cent took place outside the typical business hours of 9am to 5pm.

4 4 ELITE AGENT • NOVEMBER 2018

“Every conversation happened in real time, with people getting instant answers to their questions. There was no human agent on the other end,” Dexar Chief Operations Officer Jeffery Gray explains.

And he notes it’s just the beginning of what artificial intelligence can offer real estate in an era where the customer experience is central and immediate satisfaction is expected.

“This is about the first phase of AI and humans working together on sales transactions, but there will be an increasing dependence on AI across all transactions.

“Within the next 12 months there will be a high degree of AI driving automated workflows that also improve the customer experience.

Mr Gray explains.

From machine learning to voice recognition and complex problem solving, it allows the industry to harness the power of big data and apply it to improve the customer experience along with business operations.

“AI is already in real estate, with algorithms predicting who is most likely to buy even before they start looking,” Mr Gray notes.

That predictive ability has repercussions for sales and property management alike.

“Property managers are at the heart of disruption. Seventy per cent of what they do can be automated.”

Mr Gray notes that disruption won’t be about replacing the role of the property manager but about allowing them to do their job more effectively and intuitively.

For example, smart technology and AI may be able to predict when a hot water system will need maintenance, smart speakers will allow tenants to report maintenance issues by voice at any hour of the day and AI will allow property managers to automate the job of finding a tradesperson.

“Instead of a tenant waiting two to three days for someone to get back to them, we’re asking what does it look like to have this happen in real time?

“Fast forward three years and there will be a platform connecting with consumers on whatever channel they choose on a 24/7 basis and, as properties also become smarter, AI will be connecting with houses.”

The real estate perspective

Managing Director of Laing+Simmons and Real Estate Institute of NSW President Leanne Pilkington said AI had the potential to allow agents and property managers to concentrate on what they do best proactively rather than reactively.

“There’s research that indicates about half the inquiries about properties are not getting responded to.

“AI is about trying to give the consumer

information and communication in real time.

“We know most people look at property after hours, at night, when an agent isn’t necessarily available. If we can give people information to answer their query, then the agent can follow up afterwards and have a better conversation based on qualified leads.

“From a property manager’s perspective, they spend a lot of time doing routine, mundane work. We think by having AI we can make their job a whole lot more interesting by automating the jobs that aren’t necessarily pleasant.

“We are not trying to remove property managers, but rather provide a better experience for the tenant, for the landlord and for the property manager.”

A new consumer

Meanwhile, Mr Gray noted the convenience of AI was becoming the norm rather than the exception and, with new generations entering the property market, adoption was a necessity.

“To a large extent the real estate industry is still the same as it was 20 years ago, geared to Generation X and Baby Boomers.

“Millennials and Gen Zs have never known a world without social media. Gen Z also don’t know a world without AI. They rely on this algorithm for their social and news feeds.

“When they look at real estate, they’re not comparing their experience with other real estate agencies but with other experiences, like Netflix and Amazon. So, when they hit real estate with email, phone and in some cases fax, there’s a complete disconnect with how we deliver our service.

“Research suggests 90 per cent of millennials will use a chatbot. Above 53 per cent prefer that method of engagement.

“Industries and businesses that ignore these shifts in expectations will do so at their peril. Those who are able to implement the technology first stand to gain the best return and advantage.”

In addition to working with Laing+Simmons and launching The Grounds development proof of concept, Dexar recently produced a white paper delving into the implications of Artificial Intelligence for the real estate industry at large.  CASSANDRA CHARLESWORTH

For more information and to access the whitepaper visit eliteagent.com/dexar.

BUSINESS IS HARD. DON’T DO IT ALONE. [ that’s where we come in ]

ACCOUNTING | TAX | LEGAL | BROKING | COACHING | BOOKKEEPING SUPERANNUATION | STRATEGY | ESTATE PLANNING | SUCCESSION [07] 3193 3000

info@businessdepot.com.au

businessdepot.com.au/realestate

rexlabs sponsored feature

customer loyalty

Building

CUSTOMER LOYALTY What do Apple, Zipcar and Amazon share? Their focus on Meet sellers on providing exceptional customer experience both before social media worldwide explosion of social media and after a sale – and the customer loyalty they’ve The requires businesses (including yours) to be achieved through that business model. This is the same where their customers are. However, it’s hugely time-consuming to create, design, experience agencies could be delivering if they created a upload and monitor effective social media more diverse offering, says Anton Babkov. ads. So we built Spoke – a simple answer to

D

iversification isn’t a new concept; almost every agency offers both a sales and property management service, after all.

But tech tools can take this much further.

You don’t have to use one to use another, but together these tools help you provide a great customer experience: from the first touchpoint, through to moving day and beyond.

46 ELITE AGENT • NOVEMBER 2018

a complex problem.

What Spoke does

1 Creates dozens of eye-catching, highly

targeted ads for your agency, agents and listings in just a few minutes 2 Publishes those ads across multiple networks – Facebook, Instagram and the Google Display Network 3 Retargets interested social media users with different ads to recapture attention 4 Continuously optimises your ad campaigns using artificial intelligence

TO HELP YOU WORK AS EFFICIENTLY AS POSSIBLE, YOUR CRM SHOULD CONNECT WITH THE TOOLS YOUR AGENCY USES.” 5 Gives you access to real-time reports

that show how the campaign has performed It’s a powerful tool for selling houses, sure. But in this context, the beauty of Spoke is that it can begin a seller’s experience with your agency.

Agency and agent ads can be targeted towards people in your local area who, based on their online behaviour, are likely to sell. But even listing ads get your brand out there. Think about it. When you publish a listing on the portals, you’re driving traffic back to that portal.

With Spoke, all that traffic is coming back to your website.

Capture enquiries on your website

Once a potential customer clicks on your ad, they’ll come to your website.

This is an extension of your agency – and a preview of what you’re like to do business with.

At this stage, the aim of the game is to generate leads for your agency. To do that, your website needs to be: l beautifully designed l mobile responsive l consistent with your brand l optimised for search engines l secure For you to effectively manage those leads, it also needs to link with other software you use, like your CRM. However, technology isn’t stagnant.

Your website needs to be constantly updated in line with the latest

developments in security, SEO and design.

That’s why we created Siteloft, our website platform product, specifically designed for real estate agencies.

As a SaaS company, we’re able to constantly improve Siteloft websites (and all our products) and immediately release new solutions, pushing updates to our users as soon as they’re available.

Nurture relationships with your CRM

Once you’ve nabbed that enquiry, it goes into your Customer Relationship Management system. Notice how this is the third step, not the first. Your customer’s experience with your agency starts long before this.

Back in the old days, CRM software was a simple contact management system helping businesses build and maintain relationships with new and existing customers. Now it’s a robust tool to manage sales, marketing, accounting, vendor and other types of operational data, forecast and report on business outcomes and manage leads – all while providing a personalised customer experience.

To help you work as efficiently as possible, your CRM should connect with the tools your agency uses. For example, the Rex CRM integrates with over a dozen tools, like CoreLogic, Xero and REI forms (as well as all Rexlabs products). If our users want more, they can suggest it via our UserVoice platform. However, with our open API, they have the option of building their own integrations.

Keep momentum while you’re out and about

You’ve probably heard that following up online leads in five minutes or less makes you nine times more likely to convert. For many of your customers, round-the-clock service isn’t a bonus – it’s expected.

But this is 2018. You also need to be able to edit a contract, manage your team and effectively run your business from your mobile. That’s why we built Pocket, our fully featured CRM app for Rex users.

We’ve also built an app specifically for running open homes more efficiently: PocketKiosk.

Above all, your CRM is there to help you nurture relationships to achieve either a signed listing agreement or a sale. Being able to provide a consistent customer experience – from wherever you are – is going to help you get there.

Then add value with referrals

The customer experience doesn’t end at the point of sale. Most sellers will need a removalist. Most buyers will need a conveyancing solicitor. See where this is going?

But it’s not just about adding value for your clients. American brokerages are generating about 40 per cent of their revenue from secondary sources like referrals, but for many Australian agencies they remain a virtually untapped revenue stream. Why? The onerous compliance requirements and significant admin overhead required are rather large deterrents. We’ve created an app that solves this problem, too.

Hitch makes your agency a one-stopshop for all your customers’ propertyrelated needs, helping you track, record and facilitate the referral process from any device to earn more referral fees and provide more value for your clients. It keeps all the important documents together and updates you on the process. Then it takes care of payment.

The value you bring to the table is the total real estate customer experience you offer. So focusing on customer experience may be the single most important investment your agency can make in today’s competitive climate.

Together, Spoke, Siteloft and Rex form the full solution for creating interest and driving traffic, retargeting, capturing leads and closing a sale. Hitch adds extra value – ensuring your customers have a great moving experience – and then Rex helps you keep in contact until they’re ready to sell again. 

Anton Babkov is CEO of Rexlabs, a team of multidisciplinary entrepreneurs who identify needs, develop ideas and define them in digital products. For more information visit rexlabs.io.

eliteagent.com 47

marketing

How to get more

BUYERS THROUGH YOUR LISTING As the world of real estate evolves, more agents are turning to social media to help them generate new buyers and sellers than ever before. With more vendors willing to invest in social media advertising over traditional print media, Emma Barr from iLEADS explains how to maximise results.

48 ELITE AGENT •NOVEMBER 2018

W

hen you get a vendor who is willing to invest in social media, you want to make sure you are maximising the return for them. You also want to make sure that the leads generated are captured and that you are able to start converting them into either buyers or future sellers.

We have outlined below one of our most successful listing campaigns, which we have seen generate anywhere from 30 to 120 leads over 30 days. This is ready for you to duplicate and install within your business today.

Build your funnel

When you are building a new Facebook campaign, you want to make sure the page you are sending your prospects to is a dedicated funnel, purpose-built to generate leads for your business. Often we find that when agents send prospects to a general website the prospect gets distracted

and will click away before we are able to capture their information.

There are many different platforms you can utilise for your funnel, but we have found that the most user-friendly are Instapage and Leadpages. Build a simple two-step funnel where the prospect has to enter their information prior to being

WHEN YOU GET A VENDOR WILLING TO INVEST IN SOCIAL MEDIA, MAKE SURE YOU ARE MAXIMISING THE RETURN FOR THEM.�

able to access further information on the property. We generally request their name, email, phone number and residential address.

Once you have set up your funnel and uploaded all your property images, open times and details, make sure you have set up the notifications so that you get sent an email every time a prospect enters their information. You want your finger on the pulse so you can contact those prospects straight away.

A few tips for your new marketing campaign l Edit your Ad placements

and only select ‘News Feed’ in Facebook (and potentially Instagram if you have an business account) l Your Ad spend should be at

Facebook Ads Manager

least $10 per day for 30 days.

There are many different types of campaigns that you can build out in Facebook to generate traffic and leads for your new listing. However, we are going to show you one of the simplest to install that will generate you some great results.

An ‘Engagement’ Campaign is designed to build engagement on a particular post.

To build this type of campaign, do a regular Facebook post announcing the property with a short description and include the link to your funnel and images to the property. Your call to action should be ‘Click here for more information’.

Once your post is live, enter your Facebook Ads Manager Account and build a new campaign. Select ‘Engagement’ then follow the prompts.

l When building out your

audience, the more specific you get the better. However, try to keep your audience targeting to approximately 10,000 (this will obviously vary area to area) l When you get through to

the last section of building out your campaign, select your Facebook post that you have just recently made announcing the property.

Then publish; your campaign will now be live.

It’s easy to switch & save on Real Estate Agent Insurance Compare Insure Save

Track your results

With an Engagement campaign we generally try to get a cost per engagement of $0.10. If you are achieving this on your Listing campaign, you have a very relevant campaign that your target audience is responding to. If your cost per engagement is too high it might be that you aren’t targeting the right people in your area; try updating the audience before simply turning off the campaign or changing the ad. By making small changes to your audience you can potentially expose your property to a whole new target market and start generating those results you are looking for.

Facebook Marketing is not always straightforward, but with a little direction you can start generating some amazing results for your vendors and open up the dialogue with more buyers than you would have been able to capture previously. 

Emma Barr is the Owner and Founder of iLEADS, specialising in lead generation for real estate agents. For more information visit ileads.com.au.

Use code

ELITE25 to get

$25 off *

FREE multiple quotes online in minutes your business & receive your documents instantly yourself time and money, backed by our Price Promise

Ready to compare? bizcover.com.au

1300 952 851

*$25 discount cannot be used in conjunction with any other offer. This information is general advice only and doesn’t take into consideration your particular objectives, financial situation or needs.

Before making a decision please consider the relevant Policy Wording. BizCover™ Pty Ltd (ABN 68 127 707 975; AFSL 501769). © 2018 BizCover. BC1081

eliteagent.com 49

personal development

THE FUTURE OF

THINKING WE’RE CURRENTLY LIVING the future predicted by futurists over the last ten years, and it’s no longer shocking that AI and new tech will completely change how we live and work. Chris Helder looks at why we need to embrace the changes ahead or else get left behind.

I

n recent years, I have watched audiences at conferences become fascinated with messages from futurists. They have challenged our minds with stories of artificial intelligence, driverless cars and drones delivering our Amazon orders.

They talk about a new generation that is growing up and has always been able to interact with their device. The studies show they are now dramatically challenged by being disconnected, even for a matter of seconds.

50 ELITE AGENT • NOVEMBER 2018

Most audiences today are no longer surprised by these findings. There will be new jobs that do not exist today and many jobs that exist today will be consumed by technology.

The question is no longer, 'What is going to happen over the next ten years?' but, 'In order to survive and stay relevant, how do we have to think differently?'

To increase our results in a world of uncertainty, the answer is practical, pragmatic thinking. More than that, it is a conscious awareness about how the filter in your brain is separating out the information you receive to determine what you see. The filter in your brain is called the Reticular Activating System. It is the most important part of your brain when it comes to success because it decides what you see and pay attention to.

THE QUESTION IS NO LONGER, 'WHAT IS GOING TO HAPPEN OVER THE NEXT TEN YEARS?' BUT, 'IN ORDER TO SURVIVE AND STAY RELEVANT, HOW DO WE HAVE TO THINK DIFFERENTLY?" SWITCH YOUR THINKING

Positive thinking doesn’t really work. If you have been in a rut for a period of time, it is not positive thinking that will bring you out.

Studies show that often when a person tries to be positive, they are unable to sustain that positivity and consequently feel worse about themselves than when they started.

Useful thinking is better. What is the most useful action for you to take? What is the most useful belief system to have? This is a practical and pragmatic view of the situation, rather than an emotional reaction.

This is not to suggest that you can somehow magically will a different life for yourself with useful thinking. Obviously, we all have a reality in our lives that we

are accountable for. If you are not going to change it or are unable to change it, you might as well have a Useful Belief about it.

Overall, we are definitely entering a fascinating time in world history. It is useful to believe that it is, in fact the greatest time in the history of the world to be alive. As we enter this time of massive technological change, one of the greatest fears that people have is that of becoming irrelevant.

Today, it is more important than ever to think usefully. The first step in the process is to consciously recognise that our ability to stay relevant is in direct correlation to our ability to open our minds to opportunity, new learning and the future of thinking. ď Ž

Chris Helder is a business communication expert and master storyteller whose presentations have radically transformed how thousands of people worldwide communicate with clients, customers, colleagues, staff and teams. He is the author of three bestselling books: The Ultimate Book of Influence, Useful Belief, and Cut The Noise. For more information visit chrishelder.com.

leadership

HOW TO MAINTAIN YOUR AGENCY'S VALUE T E K R A M R E T F O S A IN MARK SINCLAIR FROM Realestimations shares essential tips to succeed in a changing market and overcome the effects on agency and rent-roll values.

A

s markets cool across the country, conversations are being held around the impact this may or may not have on the value of real estate businesses.

To put this in perspective and to provide a greater insight into the level of interest this is creating, we have conducted more agency and rent roll valuations in the last three months than in the previous twelve months combined.

As a principal or business owner, I’d be asking myself, ‘Do I know what’s happening to my agency’s value? What do I need to do to safeguard its future worth?’

52 ELITE AGENT • NOVEMBER 2018

What’s driving this change?

In my 25-plus years in the real estate space, I’ve never seen the valuing of real estate agencies and rent rolls change to such a degree.

Our research shows that most principals aren’t even aware of these changes, the possible impact they will have or, in most cases, how to address them.

The traditional method of valuing a rent roll by adopting a multiple of annual net property management fees still has relevance, but it’s changing rapidly to a new order. The ‘one size fits all’ model is gone. This new valuation approach is based on ROI per management and/ or profit for each department inside an agency.

Return on investment and sustained profit are the new norm in agency valuations.

These, combined with debt/loan serviceability, are the minimum criteria lenders review as part of their LVR. We’ve set out several top tips for you to implement:

DO I KNOW WHAT’S HAPPENING TO MY AGENCY’S VALUE? WHAT DO I NEED TO DO TO SAFEGUARD ITS FUTURE WORTH?

1

Know your numbers

Set or reset your Profit & Loss accounts to individual department income and expenses. That’s to say, have separate income and expenses for sales, property management and any other specialised services or departments you provide. This way you’ll know very quickly and accurately both income and costs of every aspect of your business. It will show departmental profit, which is critical for reviewed valuation purposes.

2

Get scale

Depending on which part of the country you’re in, scale will vary. When we say scale, we’re saying the minimum number of properties under management and/or sales turnover for the business to be self-perpetuating.

Depending on location, the minimum number of properties under management to reach scale will be between 250 and 500.

3

Maximise efficiencies

Conduct an audit of every service that can be outsourced from property management, sales administration and technology.

The more efficiencies introduced, the greater the staff productivity will be while reducing running costs.

4

Market spread/ concentration

Identify those managements inside your portfolio that are geographically challenged.

Replace them with properties in your core area. Unless your property management staff are working in team structured silos, the risk of having too much spread may readily impact the value of your portfolio.

The utopian position for all real estate businesses is to sell their rent roll or agency for a maximum price and receive goodwill. By implementing the above tips, you will have a much greater chance to maintain and increase value than those agencies who focus on tired practices to build rent roll and agency profits. 

Mark Sinclair is the founder and Manging Director of Realestimations.

Established five years ago following an extensive agency and corporate real estate career, Realestimations is a specialist advisory, valuation and consultancy service specifically tailored to the real estate industry.

For more information visit realestimations.com.au.

eliteagent.com 53

events

10

ESSENTIAL TAKEAWAYS FROM

ARMED WITH LAPTOPS AND WIELDING smartphones, 200 real estate agents kicked off a six-month journey recently that will see them embrace and master the digital age through the initiative that is Digital Live.

A

fter a packed-to-capacity session in Sydney on 19 August, it was another crowded house in Brisbane on 26 August, with agents tapping the expertise of some of the brightest minds in the digital industry.

Created by REA Director of Industry Relations Steve Carroll, the program sees agents scored on their digital presence, then given the tools and mentoring to improve their ranking.

1

THE TIME IS NOW

As the market slows and competition within the real estate industry increases, there is no better time to be a real estate agent, mindset expert Chris Helder told agents.

“As human beings, we’re hardwired for struggle. Embrace it. We are moving into an era of celebrity agents. We are at a place where brand loyalty has changed. It’s about you. You are the brand! We are here to understand how you can be known.”

54 ELITE AGENT • NOVEMBER 2018

2

The interview is digital

At AREC in 2015, the REA asked 5,000 people how they made decisions, with 47 per cent noting it came down to what they found online. Three years later, that figure increased to 70 per cent. The upshot, according to Mr Carroll, is that the interview is now digital.

Nailing that interview comes down to creating a uniform presence that consistently reflects an agent’s image across social media and the online realm.

Marketing expert Valentina Borbone explained that involved eight key elements.

1 Consistency of photos 2 Creating an interesting 'about you' 3 Focusing on a specialty area 4 Harnessing video, character, communication skills and testimonials 5 Connections to the community 6 Ensuring listings are up to date 7 Linking to social media profiles 8 Completing all information available in profiles.

3

VIDEO IS KING

Video is the hot-ticket trend, all presenters reflected. While YouTube sees a billion hours of video watched per day, the Facebook algorithm ranks it as their number one preferred content type, with Facebook Live in pole position.

Helder, along with Influence expert Julie Masters, explained agents using video should incorporate a range of content, some of it professional, some of it live, and some of it showcasing listings.

For those looking to harness the power of Facebook Live, they noted the message should be clear, the content structured, a call to action should be included and, above all, the presentation must be personable and energetic.

Meanwhile, Ms Borbone said when posting video, agents should: l Use a thumbnail that’s appealing l Embed video within the platform l Offer different lengths for different platforms l Add subtitles l Ensure sound is good quality l Use readily available video editing tools to create emotion

“As human beings, we’re hardwired for struggle. Embrace it.”

4

It's not about the brand

Where once real estate was all about the big-name brand, now it’s about the individual and that trend is unlikely to change.

Around 65 per cent of people trust human beings, and only 35 per cent have faith in brands, Ms Masters explained.

“Ninety-six per cent of everything that we look at on the internet is unbranded.

It comes from a human being not a brand. Yet $50 billion a year is spent on marketing, branding and advertising. It’s like building the world’s most beautiful billboard and putting it under the ocean.”

From left to right: Steve Carroll, Julie Masters, Chris Helder, Colin Anstie, Valentina Borbone.

eliteagent.com 55

events

6 5

Anyone can be an influencer

“In this new age of influence you can go from a nobody to a somebody overnight and mobilise millions of people in 128 characters or less,” Ms Masters continued.

And if you want to be an influencer, you need: Clarity To own a space you need to be crystal clear. Ms Masters urged agents to look for their influence intersection, the place where their unique expertise met the greater realm of real estate, and master that hyper-specialised niche.

Contribute The future belongs to those who outcontribute, and not those who outspend, their competitors.

Be the translator Go out to the fringes and bring useful information back to people in their language in easy-to-digest bites.

Captivate Learn the art of epic storytelling. When you tell a story, people get a feel for you.

1

2 3 4

56 ELITE AGENT • NOVEMBER 2018

DON’T FORGET YOUR PRODUCT

DIAKRIT’s Dick Karlsson shifted the focus to listings, noting quality and consistency were essential.

“What kind of listing presentation do you offer to showcase their property? It doesn’t matter if it’s a $2m property or a $200k property - it’s about your brand.

“If you don’t have a consistent look and feel to your listings, your vendor does not know what to expect when they call you in. Consistency builds trust, which builds brand loyalty.”

He noted creating that consistency was about getting the basics right: l Every photo should have the quality to be represented in Vogue l Images and video should tell a story of the property l Include floorplans in every listing l Build in the interactives that people want to share on social media l Be consistent across all listings

“And the truth is, we don’t sell real estate, we are lifestyle storytellers.”

7

The art of engaging content

Ms Borbone explained social media relied on great content, and inspiration could be found in: l Being topical and looking at trends l Being local and featuring community events l Answering problems l Posing questions l Providing useful and reliable information l Offering videos, pictures and links l Adding humour l Providing lists like ‘top 10 things’, ‘five things that’, ‘six steps to’, and checklists l Practical advice: How to..., step-by-step, guide to… l Compiling reviews and upcoming trends l Using infographics “Know your audience, know what part of the journey they’re in. Ask for and use reviews, recommendations and testimonials, and keep them current,” she advised.

8

Harness LinkedIn

In a compelling presentation on the power of LinkedIn, Raging Digital CEO Colin Anstie shared his tips on leveraging its use.

“LinkedIn is the Google of finding humans,” he noted.

His LinkedIn checklist featured 10 key tips: 1 Have a perfect profile image 2 Include contact details 3 Create an engaging summary 4 Have a great headline 5 Add recommendations 6 Add experience 7 Increase connections 8 Download connections 9 Post regular content 10 Message prospects When seeking connections, he urged agents to attach a personal note, and be ‘Disney like’ when using social media.

“At best it might leave a smile on people's faces, but at the least it won’t offend people.”

“Ninety-six per cent of everything that we look at on the internet is unbranded. It comes from a human being, not a brand. Yet $50 billion a year is spent on marketing, branding and advertising.”

9

DO NOT OVERLOOK DARK SOCIAL

Social media is where it’s at, but don’t forget the power of the personal. Ms Masters explained sharing information on private or “dark social” platforms like email and text was eight times more powerful and engaging than just posting to social media.

The key, she said, was in finding something personally relevant to the recipient and then sharing it with them.

10

Perfect is scary

Finally, agents were given one resounding takeaway; building a digital presence is not about

perfection.

“People don’t want perfect, they want you. They want authenticity and they want knowledge,” Mr Helder said.

Ms Masters echoed the sentiment, noting: “We don’t buy into perfect. It’s scary.

We want your journey and your process.

“And the truth is, we don’t sell real estate, we are lifestyle storytellers.”  CASSANDRA

347

EFEX is a young, and keenly progressive managed services company that provides print, IT, cloud-based and voice solutions that are flexible, scalable, elegantly simple yet extremely robust, and suprisingly cost effective.

CHARLESWORTH

profile

FROM TWO-WAY TO

high tech

JANE DOOGAN IS ANYTHING but 'plain Jane' when it comes to making smart use of technology. At 73 the veteran real estate agent is embracing all the digital world throws her way, with social media and artificial intelligence no match for Jane’s passion to succeed.

J

ANE Doogan is the first to admit she doesn’t look like a tech-fan.

In fact, at 73 you’d be forgiven for expecting the LJ Hooker Nerang sales associate to be a technophobe.

Instead, the industry veteran of 30 years is among the first agents in the country to trial RITA, a real estate digital employee that uses Artificial Intelligence to automate a host of tasks.

“There’s no doubt technology has been a

58 ELITE AGENT • NOVEMBER 2018

quantum leap for me,” Jane said.

“I’ve been in the industry for 30 years and at that stage we didn’t have computers, we didn’t have mobiles, we didn’t even have ‘brick’ mobiles.

“We had two-way radios back in the '80s.

“Technology has exponentially changed the face of real estate and if you don’t embrace it you won’t get ahead, you’ll be stuck in a time warp.”

Jane said technology was all about

making the real estate process smoother for agents, administrative staff and clients.

She said one of the ways RITA had helped streamline her business was mining her database of more than 5,000 contacts to extract former vendors and buyers she had not recently spoken to in order to follow up and, hopefully, generate new leads.

“When you’ve got a really big database it can be difficult to manage. RITA is helping me put my name and voice back in front of people I may not have spoken to in the past 12 months, instead of calling someone I may have spoken to last week or just a month or two ago,” Jane said.

“I’m in favour of anything that can make my business grow.

“My motto is ‘bring it on’ and if I can’t work it out I will pass it on to or employ someone who can.”

Before becoming a real estate agent Jane, a mother of two, was a hairdresser.

She said innovation had always been in her blood.

“I only had two weeks off when I had each of my babies,” Jane said.

“I’ve always been one to push the boundaries and when I had my hairdressing salons if there was a new style of cutting or colouring I was learning it and doing it.”

Now Jane has embraced not only computers and mobile phones but video listings and social media.

She has her own website, Facebook page and Instagram.

“I’ve really tried to embrace social media with Facebook advertising and video, using Facebook Pixel and retargeting,” Jane said.

“Technology can be polarising, especially for people of my age as we tend to get stuck in a time warp and get nervous, so then we don’t try.

“For me, technology has streamlined everything unbelievably and freed me up to do more of what real estate agents should be doing – listing, negotiating and selling.”

Jane initially employed someone to manage her social media full-time, but

“MY MOTTO IS ‘BRING IT ON’ AND IF I CAN’T WORK IT OUT I WILL PASS IT ON TO OR EMPLOY SOMEONE WHO CAN.

and has since streamlined that process by outsourcing the work so she pays only for the hours spent on her tasks.

Another way Jane stays on top of her game and the advances in the digital world is to work with a mentor and to regularly attend seminars and training, including those from the REA Group’s Steve Carroll.

“There are new approaches and new ideas all the time,” she said.

“Real estate has an ever-changing face and you’re not going to be able to compete if you don’t embrace change.

“Having a mentor keeps me at the coalface and it means I”m not allowed to get complacent.”

With many still fearing a technological takeover in many aspects of our lives, Jane said embracing change in real estate didn’t mean doing away with the human element of the business, but using it to allow her to do personal touch points better.

“If you look at some of the reasons people sell houses, ill health, finance issues, divorce and death, all the technology in the world isn’t going to be able to handle that like a human can – with sensitivity and empathy,” she said.

“Real estate agents will always be needed to do the listing presentation, the negotiating, the auctions, the sale, the anniversary calls.

“People are selling their most prized possession and they get emotional about it.

“You can’t get a robot to do that for you because people still want that human element."

Jane said she also tried to keep a human touch in her social media videos and photos, opting for pictures of owners putting the sold stickers up rather than just the signboard or photograph of the property that had been stamped as sold.

“It’s important not to get lost in technology and forget someone has sold an important part of their lives or that someone

TECHNOLOGY HAS STREAMLINED EVERYTHING UNBELIEVABLY AND FREED ME UP TO DO MORE OF WHAT REAL ESTATE AGENTS SHOULD BE DOING – LISTING, NEGOTIATING AND SELLING.” has bought a new home,” she said.

If you’re thinking Jane, who also volunteers for Lifeline, may be considering retirement you’d be wrong on that front too.

“Why would I retire? I’m very successful and I absolutely love what I do,” she said.

“There’s nothing going to come (in technology) that I’ll say no to.

“If it helps me in business, I will embrace it all.”  KYLIE DULHUNTY

eliteagent.com 59

sales

A WINNING PROPOSAL LOOKING FOR A SOLUTION to make your next listing proposal a whole lot easier? Blake Williams shows how to respond faster to your potential vendors while wowing them with professional presentation.

60 ELITE AGENT • NOVEMBER 2018

A

proposal is one of your first opportunities to make a lasting impression on your client. A proposal that is bespoke to your brand and designed so your clients can interact with it has the potential to win listings. The best agents produce not only offline printed proposals, but online proposals that are mobile and desktop friendly too.

Traditionally, agents follow the same process to create a proposal. They use a time-consuming templated Word or Publisher doc and generated CMA that can take hours to create. And often their proposals don’t stand out in a crowded marketplace.

“A proposal that is bespoke to your brand and designed so your clients can interact with it has the potential to win listings.”

To stay ahead of the competition, look for an online solution that will allow you to pitch with confidence faster than anyone else. Solutions that can create both online and offline/printed versions are state of the art and should be at the top of your shopping list. But why stop there? The best platforms do much more than just create pitch and pre-list submissions; they will actually make and save you money.

Data being key nowadays, a solution with tightly integrated tools and processes you already use means you don’t need to work across multiple software programs to access content. CRM integration reduces the number of times an agent needs to key in important client information, while integration with sales data sources does the research for you by suggesting comparable sales without leaving the system.

In addition, make sure that your solution works across all devices; that’s desktop, tablet and mobile. Be sure to consider both digital and print options as each format needs to be treated differently. A fully responsive template will look great on any device.

Another advantage of the digital proposal is the ability to track and analyse how your proposal is browsed. Real-time notifications alert you when your document is first viewed, show how many times it was viewed and what sections readers actually cared about.

And because you’re online, all your proposals are organised in one system.

Imagine doing a pre-list of a proposal in just a few minutes from your phone… that future is actually here today.

WORKFLOW MANAGEMENT

There are any number of repetitive, lowvalue manual tasks that an agent has to perform throughout the sales process, all while navigating a technology landscape of unintegrated systems and tools.

If you’re looking to up the ante on productivity, increase efficiency and improve your business overall, then a single ‘middleware-type’ workflow management platform that integrates all these systems and tools is a necessary one.

And, if used correctly, a ‘middleware’ workflow management platform can result in effective perks: l Digitising your workflow management will allow you to identify and remove any unnecessary steps, condensing your overall workflow. l Ensuring work is done in a standardised way and according to legislative requirements. The sequential nature of workflow management means something cannot be actioned until the step before it is completed and/or approved. l Instant generation, signing and compliance checks of all your listing documentation, from agency agreements to price updates. Signed documents can be automatically fed back to the workflow platform for storage or approval. l No more paper chasing, which means gone are the days of misplaced paperwork and lost files. Investing in a system that allows your staff to easily store and access centralised files pays for itself.

The visibility that process management offers highlights where you’re up to with your work, allowing you to pick up where you left off. Using a built-in to-do list can alleviate the stress of having to remember what needs to be done.

A clear overview also means that tasks will be automatically allocated to all the right people, saving you time in coordinating between multiple individuals.

Accountability will improve as an audit trail of who has done what is available.

Less human intervention reduces the chances of human error. Not only is this valuable in terms of cost and time, but it can improve the overall efficiency of tasks.

Having your workflow management process automated means that operational tasks are organised so you can focus more on prospecting.

“The best platforms do much more than just create pitch and pre-list submissions; they will actually make and save you money.”

AT-A-GLANCE PERFORMANCE REPORTING

One of the greatest advantages to an agent is the ability to display their performance metrics at a glance and in real time.

Dashboards are a versatile and visual method to keep an agent up to date and monitor their progress. A good dashboard will draw information such as your listing pipeline, listings pipeline, commission flow and more – at an office and agent level, or even at a multi-office level. It’s a great way to control, manage and plan so your key business metrics are highly accessible.

I’ve been surprised at how traditional most real estate agents and agencies are, doing the same thing today they have for more than a decade. The good news is that there is now a much greater appetite than ever for these kinds of tools. Driven by a need to get rid of inefficient processes, to impress vendors with your speed and polish, and most importantly drive down the cost of doing business – this is the revolution the industry needs. And unlike many other things you can add to your business, this one pays for itself. What's not to like? 

Blake Williams is the Director of Product & Technology at Realtair, the platform that makes agents and offices more efficient and profitable and wins more listings. Visit realtair.com for more information.

eliteagent.com 61

HARCOURTS

BUILDING A PLATFORM FOR PEACE

MALE REAL ESTATE AGENTS TEETERING in stilettos, platforms and pumps isn’t something you see every day. But for Harcourts agents the yearly Walk A Mile In Their Shoes campaign is their chance to give back to the community and raise much-needed funds for and awareness of domestic violence.

62 ELITE AGENT • NOVEMBER 2018

S

tilettos and platform heels aren’t typical attire for your average male real estate agent, but on 31 August those very shoes were the most important piece of clothing for Harcourts agents.

At six locations around the country more than 500 Harcourts real estate agents, of both genders, teetered down busy main streets as part of the annual Walk A Mile In Their Shoes campaign.

Held in partnership with White Ribbon Australia, the walk raises much-needed funds and awareness of the national tragedy that is violence against women.

It’s a campaign that has proved a huge success, with Harcourts receiving the Contribution to Community Award at the 2017 REA Excellence Awards for the eyecatching walk.

Walk A Mile In Their Shoes founder and Harcourts Victoria chief executive officer Sadhana Smiles said the idea for the walk came to her following the murder of Jill Meagher in 2012.

“I was one of the women in Melbourne demanding safety and it was perhaps the first time the issue of violence had come to the forefront,” she said.

“I was sitting at home one night and saw men in Canada walking in high heels saying ‘no’ to violence.

“I took the concept to our stakeholders in Melbourne and in 2013 we held our first Walk A Mile In Their Shoes.”

The walk became a national Harcourts Foundation event in 2015 and last year grew to international proportions when a walk was held in South Africa.

Over the six years the walk has raised more than $500,000 and has seen thousands of agents, their families and friends taking part in the event.

VIOLENCE IN THE HOME

Domestic violence statistics on the White Ribbon Australia website show that over a year, on average, one woman is killed every week by a current or former partner.

One in three women have experienced physical and/or sexual violence perpetrated by someone known to them and one in four children have been exposed to domestic violence.

The figures also show that a woman killed by her partner is most likely to be killed in her home and intimate partner violence is the leading cause of death,

disability and ill-health in Australian women aged 15 to 44.

“This issue is at crisis point despite the work of people such as Rosie Batty and the numerous recommendations at state and federal level,” Sadhana said.

“Domestic violence is the biggest cause of homelessness in Australia for women and children.

“We walk because the issue of violence is not just for women to resolve, men have to stand with us.”

Harcourts Foundation National Coordinator Julia Eyles said over the years the event had consistently raised more than $100,000 per walk and 100 per cent of the money was donated to White Ribbon Australia to help fund its Breaking The Silence program.

An award-winning professional development program for school students, Breaking The Silence provides teachers with the foundational knowledge, tools and strategies to ensure cultures of respect and gender equality in schools and to work with the next generation to stop men’s violence against women before it starts.

“On average one woman a week dies from domestic violence and that is unacceptable,” Julia said.

“There are many charities that address the different stages women and children go through in the domestic violence cycle and we wanted to focus on creating generational change.

“We want to change attitudes at an early

age before children become cemented in them."

Since its inception in 2009 the Breaking The Silence program has reached more than 314,000 students and 23,800 teachers in more than 560 schools.

“We work to examine the root causes of gender-based violence, challenge behaviours and create a cultural shift that leads us to a future without men’s violence against women,” White Ribbon Australia chief executive officer Libby Davies said.

The program is provided to schools free through support from donors including Harcourts, Myer, Suzanne Grae and other supporters.

MAKING A DIFFERENCE

White Ribbon Australia executive manager of corporate partnerships and business development Mitchell Watson said the funding from Harcourts was “absolutely vital”.

“Without that, we would not be able to reach as many schools and as many students as we do,” he said.

Harcourts International managing director Mike Green said it was an honour to be recognised at the AREAs for the campaign and partnership with White Ribbon Australia.

“This is an issue that affects up to one in five Australian women and through our work with White Ribbon we know that engaging men to make women’s safety a men’s issue too is imperative,” he said.

As a White Ribbon advocate who has spoken at various schools, Sadhana said the actions of today’s youth had filled her with hope for a less violent future.

“When young men stand up and say to their classmates ‘we will walk with you, we will stand by you and we will protect and respect you’, I realise and see the changes the next generation will create,” Sadhana said.

“However, we cannot just depend on generation changes and this is why what we do is important, bringing attention to an issue that is dark and violent.”

Julia said while agents wore corporate attire during the walk, its aim was not about creating brand awareness for Harcourts.

“It’s important to give back, it’s that simple,” she said.

“In 2008 management asked how we could better support the local communities that support us in our careers and that was the reason the Harcourts Foundation was established.”

Since then the Harcourts Foundation has raised more than $5 million and given 933 cheques to 686 recipients in 311 locations.

“Together we are in a position to make a real difference and we know that being a caring member of the community ensures a better quality of life for everyone,” Julia said.  KYLIE DULHUNTY

Congratulations to all our 2018 AREAs finalists!

Find out who made the list by visiting theareas.com.au/finalists Winners will be announced at a gala dinner on November 15th, 2018.

THE HOME STRAIGHT Mark McLeod is the Ray White Group’s Chief Executive of Growth. He works alongside both agents and businesses across Australia, helping them reach their ultimate potential to achieve success.

The compatibility gene

No matter what new and exciting technology is introduced into the real estate industry, there still needs to be a human connection offered alongside the tech for a great customer experience. Mark McLeod explores how agents can become more compatible with technology.

I

recently attended the Inman Conference in San Francisco and witnessed the ongoing debate over disruption and technology in our industry.

Let's start the discussion by asking what technology enables us to do.

From our perspective it’s designed to get our people to talk to more people, at the right time. But despite technological advances, human connection still needs to be the goal.

There are four possibilities as to how this can be shaped over the coming years.

Agent only A single entity agent uses very little or no technology and doesn't develop a team. I believe the 'fat lady' is well and truly on the stage for this agent.

Tech only With little or no intervention by agents, where tech provides the platform to connect buyers and sellers. A recent article spoke well to this, saying that most people transact a relatively small number of times in their lifetime in our areas and feel they need a calm, steady hand to support them.

Agents enabling technology Where tech is at the centre and the agent plays a part role

1

2

3

in the process. Some bets are being placed in this area, but it is not the area we are necessarily betting on.

Tech enabling agents Where the agent remains at the centre of the transaction and technology enables efficiency, speed and differentiating customer experience. We believe strongly that this is where our industry is headed.

Today's way of life is nearly unrecognisable compared to 10, or even five, years ago; so it’s ludicrous to think that advancements in tech won't continue to provide tools that enable us in new ways. Let’s talk about what they may be:

4

64 ELITE AGENT • NOVEMBER 2018

I'VE SEEN CRM SYSTEMS THAT INTUITIVELY DELIVERED INFORMATION TO THE CONSUMER, PRECISELY AT THE RIGHT TIME, BASED UPON THEIR OPENING AND READING BEHAVIOURS. l AI (Artificial Intelligence) and ML (Machine Learning) will definitely play roles in all aspects of our transactions, from handling enquiries to integrated workflows. These are areas that we are hugely interested in and

working on at present l Total paperless transactions are absolutely inevitable l Predictive analysis – the ability to identify the customer based on their behaviour, providing services they need before they actually call for them.

One of the other challenges we face is in delivery of content to the consumer. Market analysis, recent sales and all market review documents that our industry provides are now hygiene to homeowners in Australia, and available to them in many varied sources. Delivery of personalised, relevant content to the consumer is going to be one of the ongoing challenges.

I've now seen systems that deliver personalised content based upon the consumer’s recent behaviour (AI & ML).

I've seen CRM systems that intuitively delivered information to the consumer, precisely at the right time, based upon their opening and reading behaviours. There are systems that use gamification to engage the agents in behaviour which underpin and supports tasks that have to be done on a daily basis, increasing the agents’ activity by nearly 30 per cent.

I've also seen holograms of rooms in homes which enabled the consumer to view properties in the luxury of their home.

These are exciting times for our industry, and I personally can't wait to see the level of customer experience we can deliver as we further embrace technology. Those agents who are more compatible with it will just happen to be at the centre of more transactions. 

Don’t miss what everyone is talking about DELIVERED EVERY MORNING STRAIGHT UP, NO DECAF!

•

#THEBRIEF brings you the latest real estate news, tech and marketing tips, how-tos, and inspiration

BE THE ELITE

•

Make sure you are on the only list that matters and be ahead of the game before you reach the office

ELI T E AGEN T.COM/SUBSCRIBE