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And that struggle will change, he says, as new generations enter the market and technology advances. But if you can find the roadblocks that stand in the way of transacting or renting property, that’s where there’s an opportunity to innovate and future-proof your business.
As the former Chief Inventor for REA and a current social scientist at global consultancy ThoughtWorks, Nigel has a deep insight into both tech and social trends.
He notes the pace of change is gathering momentum, and it’s only likely to continue in the years to come.
In this Elevate podcast with Elite Agent Managing Editor Samantha McLean, Nigel examines some of the tech and social trends which are emerging now, what’s likely to happen in the next 10 years, and also beyond.
He shares how that will impact real estate, and why agencies need to start preparing for the shift.
Nigel notes those changes include Baby Boomers exiting the property market, the rise of Gen Z in the workplace and real estate market, and the increasing integration of the online and offline world.
And Nigel says he’s concerned for the industry if they believe the next 10 years will be anything like the decade that has just been.
It won’t be predictable, it won’t be all laid out, it won’t be about plugging the gaps with technology.
Instead, it will involve knowing your customer, understanding their struggle and finding new and innovative ways to better cater to their needs.
It will also involve seizing on the local advantage rather than being overwhelmed by global trends.
“This is not a war of global companies versus local camps. Ignore the globals, they cannot get down to your neighbourhood. Big companies are terrible at local, but you’re brilliant. Exploit that and solve the struggle.”  Nigel Dalton.
And much, much more…
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