AS any real estate professional knows, the property market is no longer what it used to be. Buyers come armed with property prices, information on the local area, research on sales history and just about every other piece of information that once used to be the closely guarded secrets of the trade.

As more buyers use online platforms and applications to search for places to live, it becomes easier to predict market trends and better understand buyer behaviour.

This new crop of savvy property buyers has resulted from ongoing technology innovations in the global property market. Just about anything can be Googled now, the practice becoming so common that the name itself has become a verb. Almost everything comes with an app in this day and age, with information only a click away.

As buyers become more technologically aware and are able to bypass property experts on a number of matters, it leaves the question: how does the property expert still remain relevant? According to recent statistics, Domain Group reported significant growth in their digital audience. Nielsen Online Ratings placed the property group’s audience at 2.5 million, a 65 per cent increase on last year. With figures showing that technology usage is growing, opting out is definitely not an option. Instead, it’s time the industry embraced technology and used it to their advantage.

While it might seem counterproductive, opening up all data and information to the public is a necessity. The practice of data democratisation is not a foreign concept. Many business models have changed the way they operate simply by making information free, open and accessible because they understand that information is a two-way street. In the United States, property heavyweight, Zillow, acquired key property player, Trulia, for a final figure of $2.5 billion. Citing them as the key motives to merge, the property powerhouses wanted to corner the online market, cultivate faster innovation by combining resources and ultimately, make data more readily available to create a more informed market after they noticed an increase in online real estate traffic.

Australia’s property market can learn from international examples such as these. As more buyers use online platforms and applications to search for places to live, it becomes easier to predict market trends and better understand buyer behaviour. Having the ability to capture analytical data from consumer activity through the use of technology puts the real-estate agent back in control. It offers property experts a more detailed snapshot of buyers and puts them in a better position to target a wider cross-section of the market. Industries that have embraced technology are leaving their more stubborn counterparts behind. They understand that the technology wave can’t be fought, either get swept up with it and ride the crest or lag behind and struggle to stay afloat.

If we can learn anything from our international siblings, it would be that the property market is not exempt from disruption. Data democratisation is fast becoming an inevitable fact of life for consumers everywhere. Those in the real estate industry who embrace this, and help guide their client thought the deluge of information, are the ones who will gain a competitive advantage.

LJ Gilland Real Estate Pty Ltd Real Estate Agents Aspley QLD Yellow Pages®

About ljgrealestate 据联大

Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. LJ Gilland Real Estate Pty Ltd LREA推荐书LJ Gilland房地产 L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085.
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