My guest in this episode is Domonic Thompson, national head of real estate at Macquarie Business Banking, one of the country's largest and certainly most engaged bankers to the real estate industry. Dom has more than 15 years' experience in banking in the real estate sector, and has been a driver behind the Macquarie Real Estate Pulse Check, a regular survey of the real estate industry. Their 2020 report has some powerful data that shows the connection between performance excellence and technology adoption.
(02:05): Bankers don’t normally get asked to do an elevator spiel, but Dom gives it ago.
(03:02): Dom gives us a quick overview of his time at Macquarie and the background of the Macquarie Pulse Check Survey.
(05:11): The three key trends that have come out of the survey.
(07:01): How the trends apply to the broader real estate market.
(09:51): What the trends mean for proptech and how top performers embrace technology.
(12:23): The different lenses through which we can look at technology.
(13:41): How proptech is helping property management
(14:05): The benefits that came out of Covid and how it’s changed our expectations around working in real estate and how we run our businesses.
(16:01): The importance embracing diversity and different skill sets in agencies and how it can help with technology adoption.
(18:00): What high performance looks like in real estate – by the numbers – and howto differentiate yourself.
(20:37): How technology is now a leadership issue and the role of vision and strategy.
(22:37): The need to improve our execution ability.
(24:54): The role of real estate franchise groups going forward.
(27:21): The resilience of the Australian real estate sector over the past 18 months
(30:11): Building resilience in our businesses.
(33:07): Where to start
(36:06): How Covid19 has taught us to better understand our businesses, finances and the importance of profit centres.
(40:18): How the gap between average performance and top performance is now expanding and accelerating.
(43:50): Dom takes a stab at predicting the next five years in proptech