It is time real estate practitioners hand over easy tasks and wind back their clocks in order to keep up with the challenging environment, says an expert on his visit to Wagga.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Real Estate Institute NSW CEO Tim McKibbin has been traveling around the state to offer advice to an industry that is experiencing disruption as a consequence of technology.
Mr McKibbin said professionals need to focus on the area that computers cannot compete with as one in three real estate jobs will be replaced by technology.
"Computers can't empathise with you, they can't have a conversation and so I think real estate is fortunate in the sense that it is a people-to-people industry," he said.
"To be able to understand clients' unique requirements and to be able to deliver a bespoke solution is where the human aspect of the job will survive. We can use the technology to enhance the quality of our services."
Mr McKibbin said many of the issues expressed by real estate agents, property managers and businesses yesterday were shared.
"Technology is impacting all of them...we need to enhance the relationship, which means starting with a base of where we used to be," he said.
"I think there is a real opportunity to go back 30 to 40 years ago and sit down and talk to people as I think we have lost the ability to have a conversation without technology.
"It is very important to understand the needs and wants of the client and take the time to understand what outcome they want, rather than trying to fit them into a one-size-fits-all process."
Mr McKibbin said Wagga's affordable market will not just benefit the region, but also the state as people will relocate and ease pressure in major centres.
"It was very much global issues that were shared right across the state, which isn't surprising given we're all subject to the same legislation and regulatory environments," he said.
"There's always difficulties and unfortunately real estate has a very prescriptive regulatory environment, which I think needs to be addressed.
"We don't have the flexibility on occasions to be able to deliver a bespoke solution to the client that responds to their unique circumstance."
