Pete Richards | Business2

Commonwealth Bank’s Property Guide iPhone App

by Pete Richards, on 5th August, 2010 • 11 Comments

A week or so ago I was invited to today’s launch of Comm Bank’s Property Guide iPhone App (application). When I got the invite, I was interested and sceptical all at the same time (how can a bank make an industry leading property App), but intrigue, and the promise of a good breakfast, got the better of me and I went along.

Firstly, I have to say that the App itself is very impressive. I love iPhone Apps that “use” the functionality of the handset. Too many Apps are just conservative, dry extensions of the company’s website (see Domain’s App as a good example of this). They’re functional, they do a job, but are pretty uneventful, never interactive and pretty boring. The Comm Bank App uses every ounce of the handset’s horse power, and is the better for it.

Augmented reality (using the camera, GPS and orientation gizmo) is mind blowing, user friendly and very useful. During the live demo they took us outside and we stood outside a property that was for sale, pointed the camera at the property, and everything came to life…… so much information at your fingertips. You can search in more traditional ways, but the AR was the real show stopper.

Secondly, another masterstroke is buddying up with RPData and realestate.com.au for content. I’ll let you download it and judge for yourself, but it’s the sort of App that one of the portals SHOULD have created, and didn’t.

I applaud Comm Bank for a job well done (and for the great coffee at the launch).

11 Comments »

The iPad Has Landed

by Pete Richards, on 7th June, 2010 • 14 Comments

The iPad Has Landed

So, the iPad has finally landed!

And to refer back to the title of my post back in April, has it come crashing down to Earth like a huge white elephant, or elegantly applauded in as yet another Apple master stroke?

Before I answer that I’ll come clean and admit that I got one on the day they launched.

The Good

1- They are an extremely good presentation tool. Visually everything just comes to life on the screen. Keynote (Apple’s version of PowerPoint) can do some wonderful things and smart Australian companies will be working on some presentations for this tool and rolling them out to their sales force as I write this. If (like real estate agents) you’re presenting one-to-one, or one-to-two, there’s no better tool.

2 – The size “just works”. I was struggling to see where it would fit in the market if you already had a small laptop and an iPhone, but as soon as I saw one I instantly got it. The size is perfect. It’s not (as I feared) just a laptop without a keyboard. It’s small and slim enough to be a genuinely different product.

3 – As with all Apple products, it’s intuitive. It’s interesting that many of Apple’s products don’t even come with an instruction manual.

4 – It’s not all about fancy games and funky Apps. This thing has got some business grunt. Apps I downloaded on day one included; Pages, Numbers and Keynote (Apple’s version of Microsoft’s Word, XL and PowerPoint), as well as PDF Viewer, GoToMeeting and an App called DocsAnywhere, which enables you to sync the documents on your PC or MAC with your iPad, via iTunes.

5 – For the iPhone owners amongst you, some of the features you already know and love just work much better on the bigger version.

6 – It’s fast, particularly in WiFi mode, but it seems pretty slick in 3G as well.

7 – Battery life, the Achilles heel of the iPhone, thankfully the iPad doesn’t suffer the same problem.

The Bad

1 – You can only do one thing at a time and can’t jump around from one application (or program) to another like you can in Windows. If you want to quickly dive out of “something” to do “something else” for a few seconds, you can’t without closing the program you’re in.

2 – You have to get the WiFi/3G version. If you get the cheaper WiFi only version you’re wasting your money, as the device will not be anywhere near as mobile as you need it to be. Think iPod Touch (WiFi only) versus iPhone (WiFi/3G), there’s just no comparison.

3 – Touch screen keyboards are just not that great.

So, the verdict? For this industry I think they’re a great investment for an agent, assuming that you (or your business) is prepared to work hard to create the tools that will make the iPad really blossom.

A win for Apple I think.

14 Comments »

Apple iPad – Master Stroke or White Elephant?

by Pete Richards, on 7th April, 2010 • 8 Comments

Apple iPad – Master Stroke or White Elephant?

Firstly, I have to confess that I’m in love with the Apple brand. The iPod is one of the best consumer inventions in memory and, from a person that used to feel pretty cool in my teens using a yellow, waterproof Sony Walkman (yes, I pre-date the Sony “Disc”man) it’s amazing how quickly I became reliant on my iPod. I took it everywhere and looked forward to a morning run so I could use it.

As you can imagine, the iPhone blew my mind, and continues to amaze me almost every day. I break into a cold sweat if I forget my iPhone. The iPod and BlackBerry are now gathering dust in the spare room, waiting until I get around to putting them on eBay.

I’m now seriously considering buying a MAC for home. Why? I have no idea. As a marketer I’ve just been sucked into the vortex, and I just want one. Every time I switch on my PC at home I’m secretly hoping that it’s broken so I can justify the new purchase to my fiancée (who I know secretly wants one as well).

So, to the eagerly awaited Australian launch of the iPad. Apple’s website is positioning this product as “A magical and revolutionary product at an unbelievable price.” I’m a little sceptical.

Really good marketers are masters at finding a gap in a market and creating a product or a service that exploits that gap and fills the void. Exceptional marketers take that one step further and develop a product or service to fill a void that doesn’t even exist, and then create the gap via clever marketing. Before you know it, nobody can understand how they lived without what you’ve invented.

However, in launching the iPad I wonder if Apple has just got a little carried away. As one of the most powerful brands on the planet are they forcing a product onto us that we just don’t need at all?
Apple is telling us that you can conveniently; surf the web, watch videos, download and use apps, flick through photos, manage your diary and emails. All of these things you can do on your MacBook and iPhone. I struggle to see why you would buy this product if you already have the iPhone, and particularly if you also own a MacBook (Apple speak for a laptop).

Will this product revolutionise the way that we consume information and, in turn, how we do business in the real estate sector?

Here are some ideas on how the product “could” be used:

1. Listing Presentations. Laptops can be a little intimidating in the lounge room, some agents suggest that they can create a barrier between the prospective vendor and the agent. Maybe a touch screen tablet will soften that a little.

2. Property Searches. Some of our offices have MACS in reception, enabling the public to drop in and browse our website. The novelty of using iPads could work well.

3. Capturing Information at Open Homes. With the right software (that plugs directly into you database) it would be pretty handy to record not just buyer details, but buyer feedback on an iPad during open homes.

I’m still a sceptic, but I’ll let you know when I’ve bought one (which will probably be early May by the way).

8 Comments »

Where will the buyers be in 2010?

by Pete Richards, on 14th January, 2010 • 1 Comment

Where will the buyers be in 2010?

The smart agent should always be looking to list stock that matches hot buyer activity. In 2009 this space was largely dominated by first time home buyers (given the well publicised FHOG), but what buyer groups are set to be hot in 2010?

A recent survey from the Bureau of Statistics and RP Data confirmed that upgraders are most likely to be the largest buyer group in 2010, along with an increase in investor activity.

The ABS Housing Mobility Survey suggests that a massive 45% of Australian home owners feel their homes are too small. The survey was conducted when interest rates were twice today’s levels, and upgrading was not as financially viable for many home owners, but with interest rates now significantly lower (despite the three recent small increases) it’s no wonder that upgraders are predicted to be very active in 2010.

So what do these buyers want? In addition to a bigger property, they also want a better quality property that is close to shops, cafes and transport and in a quieter location with better security.

Investors are also likely to also be in the marketplace in high numbers next year. The same survey also revealed the main reasons tenants are unhappy with their current homes: poor condition, lack of security, noise levels, traffic levels and not being close enough to shops and transport. In addition, 25% complained their property was too cold.

In short, tidy properties that are secure, on a quiet street (but still close to local amenities), preferably north facing (with light, bright living spaces, balconies and backyards) and within 15kms of a major CBD will be like gold dust in 2010, as smart investors should flock to them like bees around a honey pot.

Best of luck for 2010.

1 Comment »

Leverage your brand, don’t differentiate from it

by Pete Richards, on 26th November, 2009 • 17 Comments

Leverage your brand, don’t differentiate from it

What separates great marketing from good marketing is simplicity and consistency. The easier you brand is to remember and recall the more people will be drawn to it and, ultimately, the more people will respond to it.

In real estate terms this simply means that if you tamper with your branding and advertising, even a little, fewer potential buyers will be attracted to your listings because there’s less chance that they’ll remember which brand your property is listed under, and there’s less chance they’ll be able to find the listing online.

Regardless of which product or service a company provides, smart, cut through and (most of all) consistent marketing is absolutely critical.

It’s no accident that some of the world’s best businesses not only have the best brands, but the most consistent and doggedly defended brands. It’s a rule that applies to the professional services sector as much as consumer goods. Think for a minute about which bank you use. I can guarantee that every letter, monthly statement or any marketing materials that you receive from your bank will be perfectly branded and reproduced to a very high, and highly consistent, standard.

Can you imagine an employee of a bank or a law firm sending you a letter (full of spelling mistakes) on photocopied paper instead of a perfect, original letterhead? It just wouldn’t happen, wouldn’t be allowed to happen, and for good reason.

Employees of banks, solicitors and law firms, just as much as retail outlets and consumer goods manufacturers, wouldn’t dream of taking their company’s brand into their own hands and changing it in any way, and this makes me wonder why so many real estate agents do!

I see a lot of real estate agents making the mistake of trying to differentiate themselves or, worse still, their listings from their brand. This is usually by just tweaking the layout and design of a press ad, a sign board or an online listing, changing a font here or an icon there, moving the logo. It might not seem like much, but it will eventually inflict a death by a thousand cuts to your brand and, therefore, your business and ultimately your own income stream.

The power of your brand is your best friend. Every agent should embrace the brand that they’re working under and leverage it to its full potential, not strive to differentiate from it.

17 Comments »