If there is one key area of opportunity for the real estate industry moving forward, it’s transparency, according to REINSW President and PropTech founder Peter Matthews.
It’s not that the industry has a ’treasure trove of secrets’, it’s that traditionally there has been a lack of clarity about what the industry does.
And when you don’t have clarity, you can’t build trust.
As the newly-appointed president of REINSW, transparency, professional education and a greater understanding of what agents do are high on Peter’s priority list.
He’s intent on building a better reputation for the industry and creating a more workable relationship with the industry’s regulators, while advocating for and supporting agents in an era of changed customer expectation.
As the founder of PropTech company Realtair, Peter also notes technology has an important role to play.
Not only can it create efficiency for agents and property managers, it will allow them to enjoy an improved work/life balance, while forging a better relationship with customers.
In this wide-ranging episode of the Elevate podcast with Elite Agent Managing Editor Samantha McLean, Peter outlines the challenges the industry currently faces and how the REINSW is seeking to address them.
He discusses the recent flooding crisis in NSW and what the REI is doing to assist, along with his priorities as president for the period ahead.
He also shares an insight into a personal experience that has shaped his presidency priorities and how he’s hoping that will translate to the NSW Strata Act.
Drawing on 32 years’ real estate experience as an agent, auctioneer, trainer, franchisor and PropTech founder, Peter looks at the future of the industry, including the important trends emerging and the role technology will play.
And he pulls no punches when he notes if agencies aren’t willing to embrace the digital shift, they will be left behind.
“Whilst there’s fear technology’s going to replace what we do, agency business is all about relationships and it’s that personal relationship that we’ve got to enhance. The way that we do that is to improve the efficiency and the pace at which we can operate and improve the transparency.” Peter Matthews.
Samantha and Peter also discuss:
- Peter’s primary objectives for his tenure as President of the REINSW, and why improving the reputation of the industry and creating a better understanding of what agents do is high on his list.
- What consumers now expect from the real estate industry and how agents can embrace new tools to better meet their needs.
- Why transparency is key to creating better relationships with buyers and sellers, and how digital technology will create the consistency that customers will come to rely on.
- How REINSW intends to tackle the mass exodus occurring in property management and why it requires a multi-level approach involving education, agencies and the government.
- How REINSW is supporting flood-affected agencies in NSW and why it’s important the public and other industry members have a clear understanding of the long-term impacts, including mental stress.
- Why Peter also has a personal agenda as part of his presidency priorities and how he hopes that will translate to the NSW Strata Act.
- How Realtair became a PropTech platform used by agencies across Australia after being created as an internal solution to a personal business problem.
- Why Realtair partners with some of the biggest players in the real estate industry, including the REA, and how that benefits agents looking for a one-stop shop solution.
- Where Peter sees the industry in 10 years’ time and how trends such as the Web 3.0, NFTs, AI and other technology will have an impact.
- How Realtair will continue to focus on improvement and what that means for agents and their customers.
And much, much more…
Links and resources mentioned
- John Minns
- Leanne Pilkington
- John Cunningham
- Myf Porter
- Myf Porter’s guide to selling real estate
- Connect by REA
Peter on Elite Agent
- New REINSW President Peter Matthews takes the reins
- PropTech platforms integrate to ensure agent success and mitigation of risk
- PropTech platforms Realtair and AuctionNow join forces
Connect with Peter