PPW founder Simon Baker yesterday conducted a panel discussion at the PPW Bangkok conference which unpacked the impact innovation has had on the property transaction process.
Joining Baker were Mitula Group CEO Gonzalo del Pozo and REA Group new business BDM Scott Holmes who evaluated how the property transaction process can be more efficient and effective.
Holmes noted that one of the big changes in the property industry over the last 20 years was increased bandwidth and that this has enabled property searchers to be able to take virtual tours. Agents are now not as averse to technology as they once were and we’re seeing this, particularly in how they adopt CRM to manage their own databases.
“Agents used to be tech-phobic and they’re not now” Holmes said. “They can send a (property) report back to the vendor after they’ve left the home.”
Technology now provides an immediacy that has changed the online property industry and Baker was interested to know how disruptive models such as Purplebricks have changed the climate.
“Being responsive and being on mobile is what is changing,” Holmes said. “Platforms are starting to get out there now, so there’s larger iPhones and bigger iPads, which is great.”
Holmes also said that beacon technology – a platform that tracks what people are doing and how long they dwell in a particular area of a home – is also influential in helping agents to be more effective as it can analyse how many people pass through a home and provide really specific information.
Del Pozo said data matching will also be a key growth factor in future transactions and help to provide the best information to the customer so they can make an informed choice.
“The Dutch love to spend hours looking at houses, but if you’re thinking about a car, the ultimate is to be matched with a car and to only have three options,” he said.
“It’s not about the quality or quantity, it’s about the transaction.”