Date post: | 15-Jan-2017 |
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Real Estate |
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explode or implode:are you an early adopter
or laggard?Jo-Anne Oliveri, Founder and Managing Director, ireviloution
can you handle an exponential rate of change?“Anyone in the business world – even casual observers of it – know that it’s currently experiencing a rapid rate of change. Products and services that were revolutionary two years ago are rendered obsolete if they don’t adapt to market changes fast enough.”
Forbes July 2011 John Kotter, Kotter International and Professor of Leadership, Emeritus, Harvard Business School
adopt or lose“Agents must be willing to adapt to technology or risk being swept aside by their competitors.”
Adopt technology or lose out to your competitors, REB, 26 February 2016
your business has 2 options:adapt or die!
IBM – typewriters and PCs ADAPTServers and IT services, then cloud and software
Kodak- film and photo print DIEFailed to adapt to digital and consumer desires
why good companies go badFresh thinking that led to a company’s initial success is replaced by rigid devotion to status quo
Persistence to continue in current trajectory
Problem is not inaction – problem is inappropriate action
Active inertia
active inertiaFirestone vs MichelinLaura Ashley vs Fashion houses
change by designDue diligence
Understand your clients
Consider and protect your brand, service and image
Does it work for you and if so HOW?
what difference will it make?Who?What?When?Where?Why?How?
do your mathUnderstand fee or cost
Review overall picture not just cost
Will you earn a ROI through:• Higher productivity• Improved service• Mitigation of risk and liability• Increased profitability
outsource or notIs outsourcing the solution?
What are the consequences?
Could you be more efficient in other ways?
‘uberfy’ or dieHow can we ‘uberfy’ property management:• Relationships• Service industry• Proactive and responsive• Efficiency and consistency• Results
leap outside the boxPaying rent online would not work…it was a fad
Clients buying and renting online would never outdo newspaper marketing
Digital signatures are not allowed
Blah, blah, blah…STOP LISTENING TO LAGGARDS!
digital energySolving energy solutions
Income for owner
Income for agent
Discounted energy for tenant
digital keysCreating efficiency
Peace of mind security
Property access timed
POINT CENTRALAUGUST
drugs in propertiesImminent danger
Property value impacted
Tenants seeking ‘clean’ home
Professional carpet cleaning and drug testing
TEST MY HOME – building pest and meth test
property showingsAutomated
Online
Owner feedback
Vital stats
At what cost
SHOW MOJO
maintenance managementAutomated
Clear communication
Experts
Risk mitigation
trust account managementExpert knowledge
Critical implications
Costly mistakes
Lost management
Maximum liability
insuranceProperty Managers are not the experts
Understand the vital importance
Offer choices
What is your agency policy
Understand the risks
cloud softwareImproving efficiency
Client portals
Understand security risk
Protect the data
Automation providing more autonomy
client communicationManaged frequency
Forging relationships
Face-to-face
Eye contact
Engaging
body camerasProtecting team
Protecting client
Evidence defeats doubt
No more he said/she said
digital formsInstant
Simple for team and clients
Easily integrated
Reduces paper
marketing3D floorplans
Professional photography
Create a story about the property
Virtual property tour
Attraction marketing
Who pays?
MATTERPORT AND VIRTUANCE
operating systemsBe like McDonald’s
Stamford Plaza or Best Western
Farmer selects the land for the product
Supermarket open and ready for business
Engineer the cogs
trainingConsistent
Who pays
Why not
Available 24/7
Measureable results/career paths
Certifications
team managementJob share
Define roles
Assign tasks
Align objectives and outcomes
universal languagePrincipal or property seller
Vendor or contractor
Routine or assessment inspection
What does the title mean to the client
IREVILOUTION ‘Thought Leader’
video inductionConsistent
Time saving
Reduce risk, liability and misunderstanding
Enormous cost saving
make it workImplementation
Manage the cogs
Training
Induction – team and clients
Ongoing
laggard or adopterYes and…
Don’t kill the idea
Change is inevitable
Change is good
Disrupt
Don’t ever say ‘no’
embrace changeBe the leader of change
See the possibilities, not the cost
Don’t look at what others are doing
BE THE CHANGE!
be an early adopter#GAMECHANGER #RAISETHEBAR #POSITIVEDISRUPTOR