The "brains behind Propic" CEO Jeff Gray recently appeared on stage at ReInnovate Sydney 2022 being asked by REB editor Grace Ormsby to talk about big data AI in the world of modern real estate.
Reflecting on key takeaways for real estate leaders to think about when it comes to big data AI, Jeff said,
'“The sheer scale and unknown nature of AI in real estate can be daunting, and even scary, to some people. To them I say, 'Don't be afraid of the technology itself. Learn about it. It's here to stay, and it's here to help you. My four year old is using ‘voice for search’. That's AI in action.
We interact with AI in every aspect of our lives already, shopping, banking, Netflix, and the same is going to be ubiquitously true in real estate. It's a truly exciting time for first movers."
Jeff spoke passionately about the importance of using technology to protect good people in the real estate profession. “I think we owe it to our people. Some of you have seen the results from MRI’s recent Voice of the Property Manager report. In it are some pretty profound facts: one in four people in property management is wanting to leave the industry. Fifty three percent are saying they've got some form of mental health struggle.
“My driving belief is in the power of technology to make people’s lives better. Truly, if the likes of Propic invests millions in big data science then offers it to agencies as cost effective technology that takes away the mundane, improves the customer experience, makes jobs more rewarding and sustainable for the industry, then why wouldn’t you fast track big data AI proptech now?”
Pioneers in real estate across Australia are proving Jeff’s words to be true: Place Estate Agents in Brisbane partnered with Propic to respond to enquiries 24/7. Click here to learn more about Place adopting technology in the real estate business.
Live Conversation with Grace Ormsby, Editor, REB
Watch the video below to experience Jeff expressing the importance of removing mundane tasks from real estate professionals' jobs.
Jeff's last key takeaway was about the importance of "accepting and adapting" to changes in the real estate industry. “It's not about the future. What I've just described and talked about today is already happening. The early adopters. You think about the bell curve of adoption. The innovators, the early adopters are already using this type of big data AI proptech in their businesses in Australia today. It's here. They will get a disproportionate benefit. Early adopters always get a competitive advantage."
"Laggards get no competitive advantage.”
- Jeff Gray, CEO, Propic