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University of Auckland Agents with Technology Oct 2014 Alistair Helm

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The impact of technology on the role of real estate agents - here in NZ and overseas. A presentation to property business school under graduates at the University of Auckland

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University of Auckland Agents with Technology Oct 2014 Alistair Helm

  1. 1. AGENTS WILL NOT BE REPLACED BY TECHNOLOGY…. …THEY WILL BE REPLACED BY AGENTS WITH TECHNOLOGY
  2. 2. ALISTAIR HELM • Founding CEO of Realestate.co.nz (2006-2012) • Founder Zoodle (2009-2012) • Founder Properazzi (2012-)
  3. 3. There are around 1,800,000 houses in New Zealand The market value of the housing stock is around $725 billion
  4. 4. 72,000 house sales 2014 down 10% from PY Total value of residential property sales $38 billion in 2014 down 5% from PY
  5. 5. 9,500 active licensed real estate salespeople Generated $1.3 billion in commission fees in 2014
  6. 6. The average real estate sales person earned $45,000 in 2014
  7. 7. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
  8. 8. TECHNOLOG Y impact on real estate
  9. 9. EVOLUTION THUS FAR TODAY FUTURE IMPACT
  10. 10. 2004
  11. 11. 2004
  12. 12. HOME BUYING
  13. 13. AGENT CENTRIC • Every aspect of real estate transaction
  14. 14. GATEKEEPERS OF INFORMATION • Printed brochures • Sales information • Location addresses
  15. 15. CAR & PHONE
  16. 16. PROPERTY ADVERTISING • Limited information • Single photo • No address • Agent role as gatekeeper
  17. 17. AGENT RELUCTANCE • Internet 10 years • PC’s 20 years
  18. 18. 439 Houses for Sale
  19. 19. 2004 - 2014
  20. 20. 2005 • Maps
  21. 21. 2007 • Images
  22. 22. 2009 • Social Media
  23. 23. 2009 • Social Media - Agent Voices
  24. 24. 2010 • Video
  25. 25. 2010 • Floorplans
  26. 26. 2010 • Mobile
  27. 27. 2011 • Premium Advertising
  28. 28. 2012 • Tablet
  29. 29. New Zealand Lagging global innovation
  30. 30. PLATFORM EXTENSION • Zillow
  31. 31. EXPERIENCE • 3D - Matterport
  32. 32. EXPERIENTIAL • Totally immersive experience
  33. 33. TRANSACTION • Auction.com
  34. 34. UNBUNDLING • easyProperty
  35. 35. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
  36. 36. REAL ESTATE IS MASSIVELY INEFFICIENT • 2/3rd of time spent prospecting
  37. 37. GENERIC FEEL • Undifferentiated • Buy the brand? • Buy the agent?
  38. 38. PROSPECTING • How do I find an agent?
  39. 39. AGENT ATTRIBUTES • Proven track record • Local market experience • Relevant sector experience “Someone who has sold a house like ours, recently, in this area and achieves a fast sale at or above the market”
  40. 40. WHAT LIES BEHIND THAT SMILE? • How transparent is the real estate industry?
  41. 41. DATA IS KEY
  42. 42. LOCATION SIZE PRICE STYLE Number of listings Number of sales Asking price / Sale price Days on the market Quality of content Premium advertising Marketing performance Social ranking Lead generation
  43. 43. Real Estate It’s all about data
  44. 44. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
  45. 45. LIBERATION OF DATA
  46. 46. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
  47. 47. PHOTOGRAPHY
  48. 48. SIGNAGE • Still relevant
  49. 49. LEVELLED THE PLAYING FIELD
  50. 50. 90% OF BUYERS ONLINE • Trade Me Property • Realestate.co.nz
  51. 51. DAY 1 IMPACT • Fast decay meanings timing is everything
  52. 52. TECHNOLOGY • The enablement of tomorrow’s real estate
  53. 53. 5 Steps of Real Estate Marketing Listing Appraisal Prospecting Facilitation Negotiation
  54. 54. FACILITATION • Persistance • Emotions • Persuasive
  55. 55. NEGOTIATION • Close
  56. 56. THERE WILL ALWAYS BE AGENTS • They may just act differently and be better informed, skilled, trained
  57. 57. AGENTS WITH NEW SKILLS SUPPORTED BY TECHNOLOGY

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