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‘Technology can’t solve things on its own’

‘Technology can’t solve things on its own’

by Emma Ryan | March 11, 2020 | 1 minute read

Despite the benefits technology provides to the property market, a shift in mindset is needed to truly realise its importance.

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March 11, 2020

Speaking to Smart Property Investment as part of the proptech special, Yabonza’s Mark Trowell and Heidi Guenther shared how those operating in the real estate space need to look to technology as a win, rather than a detriment to their business.

“The classic example is the taxi versus Uber solution. As soon as someone migrates to an Uber, how many go back to a taxi? Not many,” Mr Trowell said.

“Once you’ve made that transition, you rarely come back. [Rather than fearing it,] people need to utilise it; instead we’re still seeing some backlash.”

This is compounded by many of the more traditional agencies who appear to have a fear of digital disruption and offer not to take advantage of technology, despite some of the younger or new-to-industry agents realising its potential, according to Mr Trowell.

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“You’ve got an issue of how do you push for it?” he said.

“If I’m a local agent at Century 21 and I’m sitting there, what do I do? My sphere of influence is my capital, I can’t get outside my geography, so I can’t make the change I want to make.”

Ultimately, Mr Trowell said: “Technology can’t solve things on its own”, with business models needing to adapt in order to truly feel the flow-on effects.

See more of our proptech coverage here:

About the author

Emma Ryan

Emma Ryan

Emma Ryan is the deputy head of content at Momentum Media.

Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.

Email Emma on: [email protected]com.au

‘Technology can’t solve things on its own’
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