Media Release

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25 January 2019

Console launches Australia and New Zealand PropTech study

Today, Console launched the Australian & New Zealand 2019 PropTech Survey to more than 10,000 professionals within the real estate sector. The study is designed to understand how disruptive advances in property technology are affecting the viability and bottom line of agencies in the rental market.

New businesses and apps have begun to crowd the rental property market. They claim to do everything from eliminate trust accounting to outsourcing work offshore. In short: they threaten to cut rental agencies out of the market.

To stay profitable and relevant, these agencies need to rethink the services they provide and adapt to the changing market—fast.

Console CEO Charlie Holland says “Tenants want a higher grade of service, better communication and more visibility, and landlords [want] more service for less commission.”

“This means that real estate businesses are going to need to evolve, become more efficient and pivot towards a service that meets the needs of both tenant and landlord.” In other words, adopting technology is instrumental for agencies who want to survive.

The study will consider the pressure points agencies faced in 2018, and their plans for 2019 and beyond. More broadly, the study looks into strategies agencies are considering to increase revenue, and how (or whether) they think technology will support this.

To stay profitable and relevant, these agencies need to rethink the services they provide and adapt to the changing market—fast.

The study is open to all employees in the real estate sector in Australia and New Zealand until March 8, 2019. All registered participants will go in the draw to win 1 of 5 $500 gift cards. The survey can be accessed here.

The ANZ 2019 PropTech study results are expected to be published in late April. It is anticipated these results will give agencies insights into the types of technology and business models being trialled in the rental property market. It may help them identify new ways to survive the crisis created by falling commission rates, combined with increasing pressure from new market disruptors.

For more information regarding this study, please contact Hayley Baxter, Content Manager: 0428 138 546 or [email protected]

Console Australia provides trust accounting and end-to-end property management software to agencies in Australia and New Zealand. Since 1992, our pioneering spirit led us to design technology that’s been synonymous with quality and reliability. Today, Console is redefining what property management software can do. We’re engineering cloud solutions and apps that support the property manager of today and their ecosystem.