What do we predict is going to grow/change in 2020 in Real Estate? - Part II

 We are fully aware that nothing just changes overnight and due to the large exit of sales agents out of the industry it will take time to bring the level of sales agents back to where it was 3 years ago.

Already this year we have seen a substantial increase to sentiment in sales roles which we believe is in line with the clearance rates being increasingly higher than this time last year. 

There has been a huge boom in the PropTech space, this is essentially the future of the real estate market. 

With the initial introduction of AI and PropTech, we heard negative rumblings around the threat of new tech “taking peoples jobs”. However we are in a unique position of getting to interview a wide variety of candidates from both the have’s and have not’s. 

We have always advocated PropTech and the opportunity that it presents to modernise the real estate sector. It is clear when interviewing, that staff who have worked with leading PropTech, CRMs and VAs (off-shore workers), feel a better sense of work-life balance, an ability to better engage with their landlords and tenants from a service perspective and a reduction in the repetitive, mundane tasks.

In the past 10years we have seen funding increase year on year within the PropTech space. It is uncertain to say at this point exactly how this will affect the real estate sector however I personally believe that it will help streamline businesses, and empower staff.
  
In March this year there are going to be further changes to Legalisation within the Real Estate industry around Certificate and Licensing requirements in NSW with the REI running roadshows across the State. Hopefully with RTO’s advocating additional training and reigniting the promotion of Real Estate as a professional career, we’ll see a positive inflow of good future employees. 

In conclusion we believe that there will be a lot of individuals deciding to pursue a career in real estate more than we have seen in previous years and this combined with the stock levels picking back up will help strengthen the real estate marketplace.