Almost two-thirds of Australian real estate consumers would prefer to have one agency for all of their property needs in their lifetime, according to new research.
Data from the MRI Voice of the Real Estate Consumer showed 64 per cent of Australians who rent, buy, sell or invest in real estate want to deal with one agency “from renter to retiree”.
The research, commissioned by MRI Software from independent research firm YouGov Australia, revealed 70 per cent of consumers also said it was a “hassle” to deal with multiple agencies.
Consumers would prefer one agency so they can build trust, reduce paperwork and be more efficient when dealing with property-related issues.
The data was shared as part of a Voice of the Real Estate Consumer webinar earlier this month. MRI Software Executive Managing Director, APAC, David Bowie noted MRI was committed to turning that dream into reality.
“Australian consumers told us they want one real estate agency for life,” he said.
“We’re committed to helping agencies deliver on that aspiration.
“With more than 50 years of experience serving the global real estate industry, MRI offers peace of mind for clients who know the solutions we tailor to their particular environment are tried and tested.”
Mr Bowie said MRI Software, which has 10,000 clients in the Asia Pacific region, had an open and connected digital ecosystem that provided end-to-end solutions for real estate agencies through creating its own software, partnering with others and, as in the case of PropTech Group, acquiring other platforms.
“Agency leaders we work with truly grasp the incremental value brought by having a partner with an open and connected technology ecosystem to underwrite their business growth,” he said.
“Acquisitions we make, such as PTG earlier this year, enable us to better support our clients as they strive to retain consumers for life.”
And in today’s quickly evolving real estate market, and especially with lower listing numbers currently, it’s never been more important to retain clients for life.
In an MRI Software Client Advisory Board (CAB) survey, 100 per cent of real estate agency leader respondents said profitability was their top concern in today’s market.
MRI Software Director of Strategy, APAC, Josh Symons said in the webinar that it was MRI’s “ultimate goal” to help agencies capture the lifetime value of every client.
Including PropTech Group product acquisitions, he said the MRI Living portfolio now includes popular property and agency management, CRM, social and strata housing management, and finance management software solutions including Property Tree, Box and Dice, Vault and Eagle Software.
“We provide a technology stack, and a platform of solutions, that play together to help achieve your goals in the market you’re playing in,” Mr Symons said.
Mr Symons urged real estate agencies to look at where their relationships with their current clients started and ended and how they could leverage the data they already hold, paired with their technology stack, to bridge any gaps and grow their client base through a range of services and support across the business. .
He said one of the most important areas was “breaking down silos” that often existed between sales and property management departments.
“To make the one agency for life dream of everyday Australians come true, real estate agencies really need to look closely at their tech stack to see how it can better share data and flag opportunities across the entire business,” Mr Symons said.
“We’ve got some powerful and intuitive technology for real estate agencies now in the market. Not just MRI Software either, we’re all about connecting an open and connected tech ecosystem that works and talks together.”
The Voice of the Real Estate Consumer research also revealed 74 per cent of investors would prefer to work with the same agency for all future property changes if they have the expertise, while 67 per cent of Aussie renters prefer a digitally-driven approach to dealing with their landlord or property manager.
Access the on-demand webinar: Voice of the Real Estate Consumer, featuring David Bowie, Josh Symons and Leesa Sinn from MRI Software, here.
