MESSAGE FROM OUR CEO

Phil Soper President and CEO

Innovation is in our DNA

As some of you may know, I ran a large technology business before I took the helm at Royal LePage, some 15 years ago. With apologies to the Eagles, when it comes to IT you can check out any time you like, but you can never leave!

Real estate media is awash these days with tech-talk. If you can find a way to dress your start-up with tech branding, you may get an investor to return your calls. And in our industry, you may convince a new or struggling agent that you have a shortcut to success.

Sorry folks, there is no shortcut when it comes to integrating new technologies into your workflow. It is hard work for the company and for the end user — you. Further, many efforts can fail to meet promised business goals. The widely followed Innotas Project Management Study showed a sobering 55 per cent of businesses had IT projects fail in 2016.

So, is all of the hype around real estate technology unfounded? Absolutely not. A phenomenon called digital convergence is rapidly closing the gap between traditional business and automated systems. Analog or ‘paper-based’ processes are disappearing faster than the American president’s advisors. Why? An end-to-end digital brokerage will work faster. It will make fewer mistakes.

Royal LePage has innovation in its DNA. Did you know that it was our founder, A.E. LePage that first introduced the ‘For Sale’ lawn sign? That royallepage.ca was Canada’s first national real estate listings website? That you had the country’s first online marketing centre and first integrated CRM-lead management system?

Too many of our competitors choose sizzle over substance. They spend their money telling consumers they’re the greatest because it is much easier than actually becoming the greatest. Like the company with a dysfunctional website. Avoiding the hard work necessary to make it relevant, their leaders choose to give away their agents’ listings to a third party and proclaim the move ‘strategic.’

Understanding that we will succeed on the strength of our actions, not our bluster, where to next? First, there will be no tech for tech’s sake. It must be truly useful. At Royal LePage we will introduce technologies only if they pass this test: will it help drive additional revenue to you? Will it reduce your expenses?

Our new ‘travel time search’ lets buyers find properties that meet their desired commute time.

To attract new leads and drive revenue, we introduced Canada to ‘travel time search,’ giving buyers the ability to discover properties that meet their desired commute time using actual traffic data. Perhaps your client's must-have is school-related? Through advanced data analytics we now show properties tied to a given school, or schools, to a neighbourhood.

We know how curious consumers are when it comes to home prices – our research and reports on the subject are quoted extensively in national and local media. We are now able to leverage our extensive knowledge of property values to provide home price ‘heat maps’ on royallepage.ca, showing pricing trends at the neighbourhood level (we then prompt consumers to contact you directly to understand how market forces are impacting individual properties).

And there will be more – of course! Today’s consumers want 24/7 access to information, but you want a life. We can solve this kind of problem with artificial intelligence. While you sleep, eat or vacation, advanced software will answer your prospect’s questions and nurture your leads.

If it seems all too voodoo, remember the famous Arthur C. Clarke quote as you ask your smartwatch for directions: “Any sufficiently advanced technology is indistinguishable from magic.” At Royal LePage, making magic real for you is what we do!

A phenomenon called digital convergence is rapidly closing the gap between traditional business and automated systems.

Leading technology. A powerful brand. Continuous learning. A supportive, collaborative culture.

This is how we will continue to win in the marketplace.

I am grateful to live in a nation with high levels of employment and a rising population, yet the rapidly changing needs and wants of the real estate consumer will leave some baffled, wondering why their ‘tried and true’ approach is falling flat. We seek understanding through research. Our widely reported study of baby boomer intentions show an additional 1.4 million are preparing to enter the market. Our studies into the huge millennial demographic have shaped our services, our marketing and our training programs.

In the face of seemingly endless regulatory intervention, disruptive competitors and economic uncertainty, we are celebrating record growth. Royal LePage may be the country’s largest real estate firm, but we are still a very exclusive club: our 18,000 professionals make up only 14 per cent of the industry (there are many REALTORS ® in Canada!), yet we are at the table for 35 per cent of all transactions. Royal LePagers sell much more real estate than the typical agent.

Royal LePage is the first real estate firm that has received the Outstanding Corporation Award from the Association of Fundraising Professionals

I’d like to close with a point of tremendous pride. For the first time, a real estate firm has received the Outstanding Corporation Award from the Association of Fundraising Professionals. Your efforts in creating the nation’s largest foundation dedicated to ending the scourge of violence in our society, and to supporting the women and children who fall victim to it, have not gone unnoticed. I applaud your compassion and commitment to building a safer world!

president@royallepage.ca