A focus on the future and providing agents with tools to address a rapidly changing landscape have seen Estate Agents Co-operative (EAC) increase its membership by 24 per cent since the beginning of the current financial year.
CEO David Crombie explained that the co-operative had a renewed strategy to best serve their members’ needs, and the momentum was clearly reaping results.
“Over the past 18 months we have more clearly defined our strategic vision. We went to the industry, including members, non-members, principals and property managers, and asked them specifically what they were looking for.
“As a result, we’ve implemented several changes. We are focusing on providing agents with the tools they need to adapt and achieve success in the changing industry where we find ourselves.”
Describing the EAC’s period of change as “exciting”, Mr Crombie explained it included offering access to new innovation and tools like immoviewer 360. The software allows agents to create 360-degree virtual tours and conduct property viewings in virtual reality from anywhere in the world.
Meanwhile, the EAC also recently announced a partnership with Sale Ezy to offer online auction capability to their members.
While he noted that tools were important to assist agents operating in a changing world, Mr Crombie said the EAC had also increased its support services.
“We are providing agents with the support they need with access to free legal advice, business advice, social media and general marketing advice and training.”
Meanwhile, he stressed, the EAC was also working hard behind the scenes in a bid to stay ahead of change and reform.
“In March we saw the passing of the Real Estate Reforms that we have worked on for some time as part of the Real Estate Reference Group with the other industry bodies.
“We believe that many of the challenges faced by the industry can be met by raising the profile and professionalism of the industry and the reforms will assist in achieving this.
“We will continue to work with NSW Fair Trading on the implementation of the reforms and as they progress will work to assist members to minimise the impact of the reforms on the day to day operation of their agencies.”
EAC’s hard work and fresh strategy are reaping clear results, with membership rising by almost a quarter since July 2017.
Mr Crombie said he was heartened to see that rise included representatives of metropolitan and rural areas, along with independent agents and franchises.
“Looking at an analysis of the new members, 61 per cent have come from metropolitan areas and 39 per cent from regional areas. As far as the type of agencies [goes], 87 per cent are Independent/Boutique agencies, 11 per cent are part of the major franchise groups, with the remainder being associated with the property industry in some way.”
Mr Crombie added that the EAC now had its eye firmly on the future, analysing technology trends in overseas markets, looking at changes that were coming and ensuring members had the required skills and knowledge to adapt.
“We are currently working on several new initiatives and are excited to be bringing further offers and educational opportunities throughout 2018/2019 to assist members to build strong, prosperous and sustainable businesses that are well-equipped to cope with the modern era.”
