73
AGENTS WILL NOT BE REPLACED BY TECHNOLOGY…. …THEY WILL BE REPLACED BY AGENTS WITH TECHNOLOGY

University of Auckland Agents with Technology Oct 2014 Alistair Helm

Embed Size (px)

DESCRIPTION

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

Citation preview

Page 1: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

AGENTS WILL NOT BE REPLACED BY TECHNOLOGY….

…THEY WILL BE REPLACED BY AGENTS WITH TECHNOLOGY

Page 2: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

ALISTAIR HELM

• Founding CEO of Realestate.co.nz (2006-2012)

• Founder Zoodle (2009-2012)

• Founder Properazzi (2012-)

Page 3: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 4: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

There are around 1,800,000 houses in New Zealand

The market value of the housing stock is around $725

billion

Page 5: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

72,000 house sales 2014

down 10% from PY

Total value of residential property sales

$38 billion in 2014

down 5% from PY

Page 6: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

9,500 active licensed real estate salespeople

Generated $1.3 billion in commission fees in 2014

Page 7: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

The average real estate sales person earned $45,000 in 2014

Page 8: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 9: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

MarketingListing

AppraisalProspecting FacilitationNegotiation

5 Steps of Real Estate

Page 10: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 11: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

TECHNOLOGY

impact on real estate

Page 12: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

EVOLUTION THUS FAR

TODAY

FUTURE IMPACT

Page 13: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2004

Page 14: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2004

Page 15: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

HOME BUYING

Page 16: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

AGENT CENTRIC

• Every aspect of real estate transaction

Page 17: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

GATEKEEPERS OF INFORMATION

• Printed brochures

• Sales information

• Location addresses

Page 18: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

CAR & PHONE

Page 19: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

PROPERTY ADVERTISING

• Limited information

• Single photo

• No address

• Agent role as gatekeeper

Page 20: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

AGENT RELUCTANCE

• Internet 10 years

• PC’s 20 years

Page 21: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 22: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 23: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

439 Houses for Sale

Page 24: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2004 - 2014

Page 25: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2005

• Maps

Page 26: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2007

• Images

Page 27: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2009

• Social Media

Page 28: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2009

• Social Media - Agent Voices

Page 29: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2010

• Video

Page 30: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2010

• Floorplans

Page 31: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2010

• Mobile

Page 32: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2011

• Premium Advertising

Page 33: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

2012

• Tablet

Page 34: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

New Zealand

Lagging global innovation

Page 35: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 36: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

PLATFORM EXTENSION

• Zillow

Page 37: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 38: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 39: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 40: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 41: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

EXPERIENCE

• 3D - Matterport

Page 42: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

EXPERIENTIAL

• Totally immersive experience

Page 43: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

TRANSACTION

• Auction.com

Page 44: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

UNBUNDLING

• easyProperty

Page 45: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

MarketingListing

AppraisalProspecting FacilitationNegotiation

5 Steps of Real Estate

Page 46: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

REAL ESTATE IS MASSIVELY INEFFICIENT

• 2/3rd of time spent prospecting

Page 47: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

GENERIC FEEL

• Undifferentiated

• Buy the brand?

• Buy the agent?

Page 48: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

PROSPECTING

• How do I find an agent?

Page 49: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

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”

Page 50: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

WHAT LIES BEHIND THAT SMILE?

• How transparent is the real estate industry?

Page 51: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

DATA IS KEY

Page 52: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

LOCATIONSIZE

PRICESTYLE

Number of listingsNumber of sales

Asking price / Sale priceDays on the marketQuality of content

Premium advertisingMarketing performance

Social rankingLead generation

Page 53: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 54: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 55: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 56: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 57: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 58: University of Auckland   Agents with Technology Oct 2014 Alistair Helm
Page 59: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

Real Estate

It’s all about data

Page 60: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

MarketingListing

AppraisalProspecting FacilitationNegotiation

5 Steps of Real Estate

Page 61: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

LIBERATION OF DATA

Page 62: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

MarketingListing

AppraisalProspecting FacilitationNegotiation

5 Steps of Real Estate

Page 63: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

PHOTOGRAPHY

Page 64: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

SIGNAGE

• Still relevant

Page 65: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

LEVELLED THE PLAYING FIELD

Page 66: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

90% OF BUYERS ONLINE

• Trade Me Property

• Realestate.co.nz

Page 67: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

DAY 1 IMPACT

• Fast decay meanings timing is everything

Page 68: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

TECHNOLOGY

• The enablement of tomorrow’s real estate

Page 69: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

MarketingListing

AppraisalProspecting FacilitationNegotiation

5 Steps of Real Estate

Page 70: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

FACILITATION

• Persistance

• Emotions

• Persuasive

Page 71: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

NEGOTIATION

• Close

Page 72: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

THERE WILL ALWAYS BE AGENTS

• They may just act differently and be better informed, skilled, trained

Page 73: University of Auckland   Agents with Technology Oct 2014 Alistair Helm

AGENTS WITH NEW SKILLSSUPPORTED BY TECHNOLOGY