Login
‘Technology can’t solve things on its own’
Despite the benefits technology provides to the property market, a shift in mindset is needed to truly realise its importance.
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.
“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:
- Why your property manager won’t exist
- ‘Awakening’ evident in real estate industry
- Bolstering education essential to overcome proptech fear
- Aussie investors heightening proptech demand
- Technology to create better-informed investment decisions
- ‘Information is at our fingertips’: The investor benefits of proptech
- Why investors should focus on the ‘manage’ stage of property ownership
- Can proptech get investors a better mortgage deal?
- How a ‘living profile’ benefits investors
- Government agencies slow to act on innovation uptake
- How you can take advantage of proptech
- What’s next for proptech?
- Aussie proptech worlds apart from US
- Property industry urged to adopt ‘consumer-led innovation’
- Legislation struggling to keep up with proptech
- Tinder-like platforms paving way for proptech revolution
- Shifting ‘emotional attachment’ paramount to property market success
- Can technology revolutionise property management?
Want to see more stories from trusted news sources?
Make Smart Property Investment a preferred news source on Google.
Click here to add Smart Property Investment as a preferred news source.
