An exploration of whats happening in real estate agency in Australia

1. !
The
times
are
(always)
a
changin’
A
tribute
to
the
future

2. Clients
! Inman
Connect
–
USA
–
Ambassador
! Ray
White.
Corporate
and
individual
franchises
! LJ
Hooker
New
Zealand.
Corp
and
franchises
! REIV.
Trainer
and
Events
! REINSW.
Trainer
and
Events
! REIQ.
Trainer
and
Events
! Clubs
Queensland.
Trainer
-­‐
Events
! NaJonal
Speakers
AssociaJon.
Speaker
! Trade
Union
Club
of
New
South
Wales.
Tradies
-­‐
Staff
Trainer
and
MarkeJng
! Pacific
Hoists.
Online
Strategy.

3. Areas
of
support
! Trends
analysis
! MarkeJng
Think
Tanks
! Behavior
analysis
! Online
Strategy
and
ImplementaJon
processes
! Product
review
! Strategic
alliances
! Management
and
team
coaching
! ImplemenJng
Change

4. Lets
look
at
some
changes
! Changes

5. What
happened
to
Kodak
?
#nochange

6. What
happened
to
Holden
?
#nochange

7. Qantas
were
stuck
with
an
archaic
system
#nochange

8. ?...
92
Million
reasons
to
smile…

9. Taxi!

10. Uber!

11. lyft!

12. 58/31
?

13. 58/31
How
well
are
You
communica/ng?
Are
you
speaking
their
language?
Franchisor
to
Prospects?
Franchisor
to
Offices?
Offices
to
Teams?
Offices/Teams
to
Consumers?
Are
you
really
relevant?
50%
of
the
worlds
populaJon
is
under
30

14. How
well
is
our
industry
dealing
with
‘Change’
..“We
can’t
rely
on
the
things
that
got
us
this
far
to
get
us
to
through
the
next
stage”..
..’Its
what
the
girl
does
when
she’s
finished
her
real
work”…
.**
.”
As
we
conJnue
to
invest
in
our
businesses
future,
we
believe
the
best
place
to
be
is
at
the
intersecJon
of
innovaJon
and
technology
“…
**
Old
stuff
sJll
works!
Just
be
sure
to
test
and
measure
that
it
actually
does.

15. How
well
are
you
fuelling
your
machine?
! Inman
Conference
and
NYC
Real
Estate
Study
Tour
! Sponsored
by
REIV
REIQ
REISA
REIWA
Training
Depts
! Tour
Leader
-­‐
Me
! Jan
25
–
Feb
3
2015
! Real
Estate
Tech
Conference
! Visit
4
offices
in
NYC
and
Washington
! Visit
New
York
Times
Office
! Network
with
other
tech
and
innovaJon
minded
peeps
! Or
just
go
visit
3
really
great
Pros
every
year.
! #jfdi
• *Bevan
2000

16. All
my
friends
are
dead
2014
Real
Estate
Industry
Behavioral
Trends
Report
Factual
and
Anecdotal
Study
-­‐USA,
Australia,
NZ
-­‐October
2014
-­‐Franchises,
REI’s,
Independents,
Agents,
Salespeople,
Admins,
Sellers,
Buyers,
Tenants,
Investors.

17. Interim
findings
! Age
of
industry
entrants
! EducaJonal
levels
of
new
entrants
! Premises
! MarkeJng
! RelaJonship
Management
! Consumers
are
confused
at
how/why
we
do
business

18. Where
do
YOU
fit
in?
! Self
Assessment
and
Workshop

19. Survey
! Please
rank
the
three
most
important
challenges
facing
your
business
today
from
the
list
provided
below:
! Keeping
consumers
informed
and
up-­‐to-­‐date
! Rising
costs
of
operaJng
the
business
! Keeping
up-­‐to-­‐date
with
new
technology
for
connecJng
with
customers
! Staffing:
retenJon
and
recruitment
demands
! Understanding
and
using
technology
within
our
business
effecJvely
! The
emergence
of
new
business
models
within
the
industry
(eg.
BouJque
agencies)

20. Survey
! Are
you
considering
making
any
significant
changes
to
the
way
you
conduct
your
business
in
the
near
future?
! Yes,
I
am
definitely
implemenJng
some
significant
changes
in
the
near
future
! Possibly,
I
am
currently
considering
my
opJons
! No,
it’s
business
as
usual
for
us
! *Share
examples
please

21. Survey
! If
the
lease
for
your
business
premises
was
to
require
renewal
for
a
further
3-­‐5
years
today,
how
likely
would
you
be
to
commit
to
a
further
3-­‐5
year
period?
! I/we
would
definitely
renew
the
lease
on
our
premises
without
quesJon
! We
would
probably
renew
the
lease
on
the
premises,
but
we
would
debate
the
pros
and
cons
beforehand
! We
would
possibly
not
renew
the
lease
! We
would
definitely
not
renew
the
lease
*Assume
not
owned
personally
or
smsf

22. Survey
! Where
do
your
sales
leads
come
from?
Please
tell
us,
from
the
following
list,
which
are
the
three
most
important
sources
for
genera/ng
sales
leads.
Only
rank
the
top
three
most
important
channels.
! Online
real
estate
portals
(eg
realestate.com.au,
domain.com.au)
! Agency
websites
eg.
Ljhooker.com,
raywhite.com
professionals.com.au
)
! Shopfront
! City
Newspaper
real
estate
secJons
–
eg.
The
Age,
The
Courier
Mail,
The
Sydney
Morning
Herald
! Local/Regional
Newspaper
real
estate
secJons
! For
Sale
Signs
! Direct
markeJng:
eg.
lener
box
drops/pamphlets
in
lenerboxes
! Personally
managed
database
(Q:
does
this
mean
by
individual
reps
or
business
as
a
whole?)

23. Survey
! Does
your
business
use
a
CRM
system
to
manage
and
maintain
rela/onships
with
past
and
current
clients?
! Yes
! No
! If
a)
to
above,
ask:
! Please
indicate
how
strongly
you
agree
with
the
following
statements:
! My
reps
and
I
diligently
use
our
CRM
system
to
manage
and
maintain
our
business
relaJonships
! I
believe
there
is
scope
for
my
business
to
use
our
CRM
system
bener
! We
have
a
CRM
system
but
we
don’t
use
it
very
much
! Our
CRM
system
needs
to
be
improved
or
modified
in
order
to
serve
our
business
bener

24. Survey
! How
much
/me
do
you
spend
prospec/ng
for
staff
each
week?
Please
select
the
answer
that
most
accurately
reflects
your
situa/on,
if
you
were
to
average
it
out
over
the
course
of
a
week.
! Less
than
3
hours
! Between
half
a
day
and
a
full
day
each
week
! More
than
a
day
each
week

25. Survey
! What
would
you
do
if
you
knew
that
inside
12
months
that
your
most
dominant
compe/tor
was
going
to
go
100%
digital?...
! 1.
Ignore
it.
We
have
a
winning
formula
now
! 2.
We’re
already
highly
digital
(explain
how)
! 3.
Engage
a
strategist
to
move
first
and
trump
them

26. Survey

27. Profile
of
Australasian
Agent
2000-­‐2010
! 10
years
or
more
of
service
=
+
or
–
You.
200
Mgmts.
2
Salespeople.
Sells
a
few.
Owns
Bldg.
Partner
is
PM/
Bookkeeper.
Age
55-­‐65.
Small
mortgage.
Loyal
to
brand.
! Research
notes
! *One
major
franchise
has
started
another
brand
to
rebrand
their
10
years
+
veterans
to
open
up
poorly
serviced
trade
areas.
! Average
age
for
enrollments
in
licensing
courses
has
dropped
! Second
and
third
gens
are
ramping
up
the
customer
service,
tech,
markeJng
and
sales/mgmt
volumes.

28. Profile
of
Australasian
Agent
2012+
! 32+
-­‐
Either
Gender
–
Uni
Degree
in
MarkeJng
and
or
business
management.
Private
financial
backing.
Strong
social
connecJons
online.
Savvy
to
online
markeJng.
Not
as
familiar
with
print.
Ruthless
business
and
people
decisions
re
costs.
! High
Invest
in
self
educaJon.
Low
tolerance
to
BS.
! First
5
years
associated
to
franchise,
then
self
branded.
! Not
confined
to
geography.
Believe
in
the
‘People’
business
! Informal
work
spaces.
Flexible
work-­‐life
balance.
! Highly
mobile.
Use
smart
devices
as
natural
extensions.

29. New
players
tools
! Dedicated
to
databases
and
relevant
data
comms
! Research
and
use
Big
Data
! Web
and
behavioral
savvy
to
tech
! -­‐Proficient
in
Mobile
devices
and
the
Cloud
! -­‐Pop-­‐up
sites
and
targeted
campaigns
! Challenge
‘the
norm’
! Social
media
relaJonship
savvy.

30. What
are
the
Consumers
saying?
?

31. Hear
it
Direct
! Half
Day
Consumer
Panels
–
Live
audience
! -­‐6
Buyers
! -­‐6
Sellers
Feedback
Want
relevant
info,
not
spam
Want
to
see
videos
including
the
neighborhood
They
don’t
want
to
be
your
friend
They
don’t
care
about
your
awards
They
want
a
professional
connecBon.
Sincerity.
They
want
to
know
you
care.
They
want
you
to
explain
the
process
They
want
to
be
listened
to
(and
heard)
They
only
use
you
because
they
believe
they
have
to..
(for
the
moment)…
They
believe
tech
will
change
that
in
Bme.
Strongly
quesBoning
our
fee/Value

32. Recruitment
! USA
! Larger
firms
(20+)
are
.75
-­‐
1
day
p/wk
prospecJng
for
staff.
Its
straight
numbers
for
them.
! Build
Database
of
cold
to
hot
prospects
! -­‐Email
campaigns
(Build
RelaJonships
and
recognize
orphans)
! -­‐Community
and
Club
events
! -­‐Social
media
interacJons
! RecruiJng
on
‘shared
values’.
<<<
Huge!
! *Happy
Grasshopper

33. Technology
! Move
to
the
Cloud
for
speed,
cost,
accessibility,
maintenance
! AdopJng
mobile
devices
for
all
team
! Moving
to
Paperless
for
cost
! ‘One
best
way’
for
office
technology
soluJons
! Use
of
Google
soluJons
! Designated
tech/data
officer

34. Marketing
! TesJng
and
measuring
every
form
of
markeJng
! Researching
Big
Data
and
moving
before
and
with
trends
! Having
a
clearly
idenJfiable
#POD.
Far
beyond
‘Average’
! Magnificent
markeJng
presentaJon
and
or
person
to
present
! InvesJng
FAR
beyond
the
franchise
online
offering.
! -­‐
Lead
gen
sites.
-­‐Dedicated
CRM
plan
and
person
-­‐ Online
ads
eg:
FB
and
Google
retargeJng
-­‐ Salesperson
sites.
-­‐ Video-­‐
Video
–Video
-­‐ Strategic
social
engagement

35. How
well
are
you
fuelling
your
machine?
! Inman
Conference
and
NYC
Real
Estate
Study
Tour
! Sponsored
by
REIV
REIQ
REISA
REIWA
Training
Depts
! Tour
Leader
-­‐
Me
! Jan
25
–
Feb
3
2015
! Real
Estate
Tech
Conference
! Visit
4
offices
in
NYC
and
Washington
! Visit
New
York
Times
Office
! Network
with
other
tech
and
innovaJon
minded
peeps

36. Change
or
Die