{"id":11722,"date":"2017-05-15T03:00:05","date_gmt":"2017-05-14T17:00:05","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=11722"},"modified":"2017-05-15T03:00:05","modified_gmt":"2017-05-14T17:00:05","slug":"agents-need-to-adjust-to-consumer-needs-greg-dickason","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/agents-need-to-adjust-to-consumer-needs-greg-dickason\/","title":{"rendered":"Agents need to adjust to consumer needs \u2013 Greg Dickason"},"content":{"rendered":"

Agents around the country are concerned about what are called \u2018third party sites\u2019 that sit between the agent and the seller and offer to put potential sellers in touch with the best agent.\u00a0 While that might not be the case, Greg Dickason<\/strong> says that these sites are becoming more common and more popular and agents need to adjust their model.\u00a0 What does that mean for you?
\nTranscript:<\/strong>
\nKevin:\u00a0\u00a0<\/b>You\u2019ve heard us talk in this show about these third-party sites that will offer to put you in touch with a real estate agent. One of the ones we have mentioned in the past is Open Agent. There are other referral sites as well. I want to have a look at that now in my conversation with Greg Dickason from CoreLogic.
\nGreg, what\u2019s your take on these? There obviously has been a huge uptake on these in Australia. Why is that?
\nGreg:\u00a0\u00a0<\/b>Hey, Kevin. I think there are multiple reasons why there has been huge uptake. Some of it is simply they\u2019re better at getting their brands in front of consumers, so when you go into Google or something and you search for \u201cproperty,\u201d their brands will pop up and the advertising is slick enough that people will click on it and go through.
\nSome of the uptake has simply been that they\u2019ve been able to get right up front with consumers, but I also think some of the uptake has been where they have had a good experience with these type of sites that they\u2019ve actually referred on and told their peers and their contacts about their experiences.
\nSo, I think some of it is about their service and some of it is just about the advertising.
\nKevin:\u00a0\u00a0<\/b>Yes, because I\u2019ve heard a lot of criticism from agents who aren\u2019t on those referral sites \u2013 in other words, they haven\u2019t agreed to pay them the 20% referral fee \u2013 so they\u2019re missing out, some of them being very good agents too.
\nIs this only a matter of time before, as agents, we need to be looking at these and embracing them more, Greg?
\nGreg:\u00a0\u00a0<\/b>I think it\u2019s a two-way street. I think there\u2019s going to be a shakeout in the industry. Open Agent, for example, is very good at what they do and they tend to do a lot of value-add, so they\u2019ll actually help an agent if they\u2019re used properly. But some of the others don\u2019t necessarily help the agent; all they do is get a digital lead that would have come to the agent anyway. I think there\u2019s going to be a shakeout on that side.
\nI think from an agent\u2019s perspective, it\u2019s something to look at as part of your mix of how you get customers. Ideally, the best way you get customers is through phenomenal service so that people will refer you and so their friends and family will use you, but if you\u2019re not going to get leads through that, then which one of these sites do you work with to make sure that they give you the right kind of leads so that it\u2019s actually profitable for you to work with them?
\nKevin:\u00a0\u00a0<\/b>Are we seeing these sites also in fairly popular use overseas as well, or is it just an Australian phenomenon?
\nGreg:\u00a0\u00a0<\/b>It\u2019s largely an Australian phenomenon. I\u2019ve seen some of them overseas, but the Australian phenomenon seems to be quite strong now. I think it\u2019s been a lack of digital advertising from our agents, so it\u2019s almost a need in the market that\u2019s being met by them.
\nKevin:\u00a0\u00a0<\/b>Is this highlighting a gap in professionalism with Australian agents? Is this the fault of the Australian agents that these people have been allowed to come in?
\nGreg:\u00a0\u00a0<\/b>I think some of it has been because prices have gone up quite a lot. There\u2019s been a perception in the market that agents get a fairly big commission, which is not actually true. If you look across the world, agents\u2019 commissions in Australia are in a lot of ways some of the lowest in the world.
\nBut there has been a perception \u2013 especially for multi-million-dollar properties \u2013 that the value hasn\u2019t been as much as what the seller or the vendor expects, and so some of this has made it fertile ground for these kind of digital businesses to come in.
\nKevin:\u00a0\u00a0<\/b>Some of the marketing costs are very high too on selling a property in Australia. We talk about 1% of the value of the property should be spent on marketing, but quite often we see that having to be expanded with the introduction of the Internet.
\nAustralia being probably the most expensive\u2026 Not \u201cprobably\u201d; I understand it is the most expensive country in the world to advertise a property on the Internet. Has that caused this feeling of \u201cIt\u2019s just too costly, agents make too much out of this,\u201d people thinking that the agent also makes the money out of the marketing?
\nGreg:\u00a0\u00a0<\/b>I think so. I think there\u2019s a lot of pushback on some of the marketing costs \u2013 perception that the marketing costs are high. And unfortunately, with an agent, they have to pay the marketing costs up front even if the house or the property doesn\u2019t sell, whereas in their case, they only get commission if it does sell.
\nWe have actually encountered a few solution providers out there that are looking at ways in which they can reduce those marketing costs up front and basically insure your marketing spend so that only if you sell do you have to fully outlay your marketing costs. So, there are some interesting innovations coming in that space.
\nKevin:\u00a0\u00a0<\/b>Greg, that\u2019s really exciting news. Thank you very much for joining us, and when there is an update on that, we\u2019d love to hear from you. Thanks for your time.
\nGreg:\u00a0\u00a0<\/b>No worries, Kevin.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

Agents around the country are concerned about what are called \u2018third party sites\u2019 that sit between the agent and the seller and offer to put potential sellers in touch with the best agent.\u00a0 While that might not be the case, Greg Dickason says that these…<\/p>\n","protected":false},"author":176692471,"featured_media":11724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,11,13,23,25,27],"tags":[101],"class_list":["post-11722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-selling-a-property-topic","category-sponsored-channels","category-trends-topic","tag-podcast"],"yoast_head":"\nAgents need to adjust to consumer needs \u2013 Greg Dickason - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/agents-need-to-adjust-to-consumer-needs-greg-dickason\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agents need to adjust to consumer needs \u2013 Greg Dickason - 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