Moderated by Kelvin Low, the Fireside Chat – a discussion among a panel of key industry leaders; Goh Kee Nguan, CEO of Huttons Asia, Steven Tan, Managing Director of OrangTee.com, Jack Fitzgerald, Founder of Disrupt Property, Ashwin Seshadri, Account Manager at Facebook, and Matthew Heller, Head of Channel Partnership at Google APAC.
Mr Steven Tan shared his belief that the world is now entering the fourth industrial revolution, adding that the agency business model will be impacted by technology shifts and it is critical for agents and agencies to adapt.
“Ultimately, we need to start somewhere. Observing current and persisting consumer trends can help us remain relevant,”
– Mr Steven Tan, Managing Director of OrangeTee –
Mr Goh added that technology can help agents broaden their reach to consumers, and that technology in real estate has also allowed for the enhancement of the agent-consumer relationship due to ease of communication.
“Having a website or mobile application can aid the agent or developer to provide real-time updates, information and feedback concerning a property – a trait that is very much in demand and appreciated by consumers,”
– Mr Goh, CEO of Huttons Asia –
“You don’t need to find the next best thing in property – it’s often the company that reacts best to new technology, that you find winning the rat race,”
– Jack Fitzgerald, Founder of Disrupt Property –
Mr Seshadri provided insights into digital advertising, stating that it is ultimately the quality of individual property listings that will influence consumers to take action after viewing an online advertisement.
“There are approximately 4 million users on Facebook each month, within Singapore – the opportunity for agents here, in reaching potential buyers, is tremendous”
– Mr. Ashwin Seshadri, SMB Facebook –
In terms of digital marketing, Mr Heller added that performance marketing had enhanced accountability, and this provided sellers, agents and property developers the platform to track and control their spending on online advertising. The element of trackability is what makes online marketing reliable. You’re able to monitor your reach and customer activity. You’re also able to fine-tune your campaign with custom settings such as determining radius of reachability, mobile targeting et cetera.
“Utilising online marketing tools such as Google Adwords has proven to be significantly strategic and cost-effective for real-estate”
– Mr. Matthew Heller, Head of Channel Partnerships AP, Google –
Proptech is an emerging industry in Singapore that is slowly evolving the way society searches, consumes, evaluates and decides on their real estate choices, coupled with the advent of digital marketing. It is safe to say that utilising technology into the property sector has demonstrated signs of disrupting the way homes are bought and sold. A dramatic paradigm shift is most definitely on the horizon.