Most agents collect data. Few actually use it to gain a meaningful advantage.
Head of Data and Analytics at Harcourts, Nick Jewitt, has spent nearly five years building Harcourts’ business intelligence capabilities, and believes that using data as a tool rather than a resource could be the difference between thriving and surviving in the months ahead.
“I think people think of it as a resource, a thing you collect and report on,” Nick says.
“But where there’s real value is when data actually becomes a tool, and that’s where it becomes really useful.
“It’s trying to shift that mindset from thinking data is something that you have and moving it to something that you use.”
Back to basics, but smarter
That distinction matters more now than it did six months ago.
With softening conditions emerging across Melbourne and Sydney, the market that rewarded almost any activity is giving way to one that demands genuine preparation.
“It stopped being the shooting fish in a barrel scenario where things were selling within days. Things are going to start selling in weeks or even months,” Nick says.
“You’ve got to go back to the basics of making sure your pipeline and your database are constantly being nurtured.”
But for Nick, back to basics doesn’t mean abandoning measurement; it means measuring the right things more carefully.
And in a market where every listing matters more, knowing exactly what to measure becomes critical.
“In a market like we’re currently in, you’ve got to make sure you are winning the listings,” Nick says.
“And if you are winning the listings, you are then able to convert those listings into sales because it’s going to get tough.”
The agents who will stand out, Nick believes, are those who are genuinely prepared, and preparation requires knowing what to measure.
The four pillars
Through his work building Harcourts’ data infrastructure, Nick has developed a framework for thinking about the metrics that matter.
It applies equally to sales consultants, business owners, and property managers.
Pipeline: Are there enough opportunities in the system?
This is about ensuring you have sufficient prospects to achieve your income goals.
In a market where listings are harder to win, the agents who’ve been nurturing their database will have a significant advantage over those who relied on inbound enquiry during busier times.
Conversion: Are you winning the listings you pitch for?
Nick talks about “sharpening your axe” – identifying the specific stages where you might be falling down. Is it negotiations? Presentations? Appraisals?
Without measuring conversion at each stage, you’re guessing at what needs improvement.
Health: This isn’t about personal wellbeing (though that matters too). Nick means business health.
Is your operation built to sustainably grow? Are you planning for the future?
Sales consultants, he argues, need to think of themselves as a business – because that’s what they are.
Market: Do you understand your territory well enough to position yourself effectively?
This means knowing your suburb intimately, understanding what competitors offer, and being able to articulate how you’re different.
“If you understand those four things, you’ll be in good step to be a data-led agent,” Nick says.
For business owners: know your numbers
While team performance tracking is standard practice, Nick believes many agency principals and business owners don’t have sufficient visibility into their financial position.
“Especially in this current market, if you’re not down to the level of detail and understanding all your ins and outs and your costs, you might get caught out,” he says.
Nick suggests the first step is to understand the financial side of your business well enough to ensure you’re running a profitable and sustainable operation.
“Now more than ever, you’ve got to be really on top of that side of things.”
The technology shift
Behind the scenes, Nick’s team has experienced a significant change in how they work.
The rise of AI-assisted development has reduced timelines dramatically.
“If we ever wanted to create something custom or a little bit more intricate than a standard table or graph, you would get an external provider or someone internally might do it, but it would have taken three to six weeks and cost $30,000 to $100,000 depending on how intricate it was,” Nick explains.
“We’re now moving to a world where that takes two to four weeks and costs zero dollars – just the platform usage of whatever AI you’re using.”
This acceleration isn’t confined to large franchise networks.
Nick is seeing similar shifts across the industry wherever someone with technical curiosity is willing to experiment.
“People that were probably doing some really cool things in Excel are now building custom visualisation, custom apps that they’re then able to use and release to the network,” he says.
“If they’ve got someone who is a bit tech savvy and can work out the data connection side of things, AI is unlocking that for people.”
The opportunity in preparation
For agents reviewing their own data practices, his framework offers a useful starting point.
Four questions to ask yourself: Is my pipeline healthy? Am I converting at each stage? Is my business sustainable? Do I truly understand my market?
The agents who can answer those questions with confidence – backed by actual numbers rather than gut feel – are the ones, Nick says, who are positioned to handle whatever the market delivers next.