Elite Retreat Program 2023

Om Swastiastu

Selamat Datang di Elite Retreat Bali 2023.

We extend our heartfelt respect to the Balinese people, the time-honoured guardians of this beautiful island where we gather for this event.

The Balinese often greet each other with the phrase “Om Swastiastu”, where positive energy is channelled to one another. It is a peaceful beginning to an exchange of ideas, which is our wish for you all over the next few days.

Your potential awaits

Imagine telling everyone that in four months’ time, a new tool will be released that has the potential to completely change the way any business operates.

If I had said that at Elite Retreat ‘22, you probably would have looked at me like a crazy person. But I guess if you rewind back to September 2019, could you have imagined telling everyone to wear masks and work remotely because of an impending virus?

You wouldn’t have convinced a single person back then that was going to happen, either.

And pressing pause on the print magazine, Extra!, and Elite Agent Pro was the last thing on my mind. And yet all of those things have happened.

The rise of free and easy-to-use Artificial Intelligence (AI) tools, such as OpenAI’s ChatGPT, will fundamentally reshape our world as consumers and our businesses as we know them.

So when I started playing with ChatGPT around Christmas last year, I started to think hard about this year’s retreat and what you guys would need.

What does the immediate future look like?

Staring into the crystal ball, when everyone wakes up to what tools like ChatGPT can do – and they take that blue pill from The Matrix and start using these apps to create generic, automated content because it’s fast, easy and cheap. At AREC, when ChatGPT was mentioned, about 1/3 of hands went up, so we do have a little bit to go for everyone to catch on!

What about further out?

As a result of both the inevitable content explosion, along with ease of data access, here are a few ‘maybe’ outcomes:

• All of the tools you use in your agency will be some kind of AI-enabled and there will be a high temptation to just ‘do what the robot says’ because it’s quicker – and it will be, but not necessarily good for future you!

• An industry that finds it hard to differentiate now looks, sounds and acts even more

same-same. Letterbox drops are produced by AI and look even more generic than they do now.

• Digital communication (which is easy because it’s conflict and emotion-free) replaces relationships and creates even further downward pressure on fees.

• Consumers can get even more answers online and can chat with PDFs such as contracts, agency agreements, insurance policies and more via GPT4, so there is even less of a need to talk with the local agent.

• Tools like GPT4 and Bard act as interceptors for search, meaning all that work you put into your website and local SEO don’t quite work like they used to.

But hey, we’re all heaps more efficient now, so are we winning overall?

Good things come in ‘PAIRS’

Right now, and in the immediate future, businesses will need the following acronym, and it’s something you’ll see a lot of at Elite Retreat this year.

PAIRS stands for Play, Adaptability Quotient, Impact, Relationships/Solving the Struggle, and Storytelling.

Let’s dive into each of them.

PLAY

In this rapidly evolving landscape, adopting a playful approach to new tech is essential. So, instead of being overwhelmed, approach it with curiosity and a sense of play.

Experiment with different AI tools (like Midjourney, ChatGPT, Bard, Synthesia and more) and techniques. Some will resonate with your business, others won’t.

The key lies in continual learning and innovation, and I’m pretty sure that Jeff Turner will talk about that.

ADAPTABILITY QUOTIENT (AQ)

In an ever-changing industry, your ability to adapt is crucial.

AQ is a measure of how well you can adjust to new circumstances.

High AQ businesses are resilient and can get on top of new opportunities as they arise.

Cultivating AQ involves continuous learning, being open to change, and fostering a flexible culture in your team.

AQ is a big theme of Elite Retreat, and Future Crunch will expand on this.

IMPACT

Based on the insights from Tim Duggan’s book Cult Status, impact extends beyond profitability to signify a business’s ability to make a difference.

It’s about contributing positively to society, not just selling properties.

Some great businesses have been thinking and acting on this for some time.

RELATIONSHIPS

Save time with AI, but spend it wisely. That means using the AI to carve your admin and marketing time up and using that time to talk to people and help them with their real moving struggles.

Here’s what I mean:

→ Save time writing emails and letters

→ Spend that time making the hard phone calls (before you hit send on that letter or email!)

→ Save time creating content for social media

→ Spend that time engaging with your customer’s content

→ Save time writing listing descriptions

→ Spend that time solving your customer’s struggles

→ Save time on competitor research

→ Spend that time crafting and refining your own USP

→ Save time on proofreading

→ Spend that time putting more customer focus into campaigns

→ Save time writing job descriptions

→ Spend that time in productive 1:1s with your people

→ Save time absorbing videos and educational content

→ Spend that time networking face to face

→ Save time writing press releases

→ Spend that time creating an impact on the community

STORYTELLING

In a world likely to become saturated with AIgenerated content, Steve Jobs’s prediction of the storyteller being the most powerful person in the room will be even more of a reality. This is because storytelling, at its heart, is a deeply human trait. It’s how we’ve passed down

knowledge and culture over the millennia, and it’s how we connect with each other on a profound level.

Stories have the power to tap into our emotions, evoke empathy, and stimulate our brains in a way that raw data and information can’t.

Telling compelling stories about properties, neighbourhoods, or your own business can create an emotional connection with your clients when you make them the hero.

Future-proofing your real estate business in the age of AI is not just about embracing technology, but also about amplifying what makes us human.

It’s about balancing the efficiency of AI with the empathy of human interaction, and about leveraging the power of AI to do what it does best while focusing human effort on the areas where we excel – building relationships, understanding emotions, and making a genuine impact.

The future is undoubtedly full of changes, which are actually amazing opportunities to rewrite some of the existing rules, if you can swiftly adapt to new conditions and use the superpowers you’ve been bestowed with wisely.

Potensi Anda tak terbatas. Itu ada di dalam diri Anda, menunggu Anda untuk bertindak dan menggunakannya. Jadi, jangan tunggu lagi. Ambil tindakan sekarang dan tunjukkan kepada dunia apa yang bisa Anda lakukan...

Enjoy the retreat.

Download the Elite Retreat App

Below you’ll find step-by-step instructions on how to download the app, or you can scan the QR code on the right to watch the ‘how-to’ video.

1

To download the app directly to your mobile device, open a web browser on your phone (eg Safari or Chrome) and type in eliteretreat.app or use the QR Code below.

2

Then add the app to your home screen by tapping the share button in the bottom centre of your screen and selecting ‘Add to Home Screen’.

4

Once you enter your email, a pin will be sent to your email address.

5

Now it’s time to log in: Click the app icon added to your home screen and enter your email address. Note: Please ensure you use the email address you entered when purchasing your ticket.

3

Enter the pin provided, and begin filling in your details. Complete your onboarding information if you haven’t already. That’s it! You can now use the Elite Retreat App and all its features!

The app is available for smartphones and mobile devices, and can also be used on your desktop.

The Elite Retreat App is your central source of information for all things Elite Retreat. Here, you’ll find the itinerary, info on speakers and attending delegates, and much, much more.

Welcome from Scott Bateman

In a world that demands our constant attention, where the noise can drown out our thoughts and creativity, it’s a rare gift to find a moment of relief where you can step back, reset your mind and prepare for the year ahead.

A rare gift to embrace the unknown, venture beyond our comfort zones, and unlock the untapped potential that lies before us.

Welcome to the second annual Elite Retreat!

I am thrilled to have you here as an esteemed industry leader, taking the time to be strategic thinkers in the world of real estate.

You understand how transformative a gathering like this can be, both personally and in business.

We are so proud to partner with Elite Agent in bringing you this incredible event in an amazing location.

How wonderful to meet here, where we can escape the everyday routine and truly focus on the growth and success of our businesses.

For the next few days, I encourage you to approach the sessions with an open mind and a willingness to embrace new ideas.

You’ll have the privilege of immersing yourself in a diverse array of sessions and connecting with inspiring speakers, each offering unique insights and perspectives to ignite your creativity and propel your business forward.

And speaking of sessions, I am thrilled to be running one that is specifically designed to spark your imagination and get you thinking about your business in fresh and exciting ways.

We’ll explore AI tools, like ChatGPT, and discuss how these tools can lower your cost base while delivering an exceptional user experience that your customers will love.

It’s a session filled with insights, strategies and practical tips you can take back to your business and implement immediately.

But Elite Retreat is not just about the sessions; it’s about the connections you make and the relationships you forge.

It’s time to step out of your comfort zone and make it a priority to connect with someone new.

The magic of this event lies in the varied perspectives and experiences you bring as well as those your peers offer, in the sessions or when you bump into them at breakfast.

discover untapped potential, and elevate your business to new heights.

So, get ready to be inspired, challenged, and motivated.

Let’s have fun, embrace the spirit of collaboration, and make the most of this remarkable opportunity.

Together, we will navigate the challenges, uncover hidden opportunities, and create businesses that truly stand out in the real estate industry.

Once again, welcome to the second annual Elite Retreat and to beautiful Bali.

Whether we’ve crossed paths before or are meeting for the first time, I’m excited to connect with you.

Scott Bateman CEO, Kolmeo

Some tips to enhance your Elite Retreat experience

1

DOWNLOAD THE APP

Everything you need to know about the event is in the Elite Retreat App, including any updated session times, speaker bios, dress suggestions and other important information. Also in the app, there are ways you can win some pretty cool prizes. Download the app at eliteretreat.app. See page 4.

2 BE ON TIME

Please be on time for the sessions and events. We will send you a push notification or a message via WhatsApp if anything changes from the times and locations specified in the App.

Join the WhatsApp Group at elite.ag/er23whatsapp

3 CONNECT

Connect with as many people as possible throughout the event, including the speakers. This event is designed to be small and intimate so that you can get to know other attendees. Don’t forget to put your social media profiles into the app so that other people can easily connect with you!

4 WHERE DO I SIT?

Speaking of connecting, this event is all about connecting with other delegates and our valued partners (who make the whole thing possible).

So, you’ll get a notification from us at the beginning of each day directing

you to a table number so you can meet some new friends.

5 PARTICIPATE FULLY

Being present during the sessions and participating in the conversations is really the best gift you can give yourself.

If you can avoid multi-tasking –you’ll take in much more if you’re fully present. We’ve designed plenty of break time to ‘close that deal’ if you need to.

6 SPEAK UP AND ASK QUESTIONS

This event is designed to be different from traditional events where speakers can lecture you on stage for two (or more) days straight.

We encourage you to take part in all the active learning exercises (better for retention and implementation)

7 OM SWASTIASTU

We’ve been deliberate in designing this event to also tackle tricky topics and encourage diverse discussions. Passionate debate around complex issues can be hugely rewarding for everyone.

But in turn, this means respecting others, even if you passionately disagree with them.

Challenge the opinion, not the person and keep Elite Retreat a safe space to express similarities and differences of all kinds.

THE GENIUS BAR

Our keynote speakers will be around for most of the retreat. So if you have any questions for them be sure to meet them at the Elite Retreat “Genius Bar” for a chat.

HAVE FUN

Scheduled time spent having fun with like-minded people is dollar productive on the flip side – you go back to work feeling refreshed and reinvigorated, ready to tackle the tough jobs. So enjoy the opportunity, let your hair down and enjoy the beautiful venues and activities.

For help at any time email events@eliteagent.com.au

You’ve made a great decision to invest in yourself and your business by taking some time out of the office to learn new things and meet new people. Use this handy guide for some great tips to help make your Elite Retreat ‘23 experience the best it can be.

Monday 3 July

6.00pm The Connectnow welcome party

Meet at Eden Garden for an elegant welcome dinner, drinks and local entertainment

Tuesday 4 July

6.00am - 8.00am Breakfast (The Café)

8.00am Conference Doors Open (Violet ballroom)

8.20am Official welcome

Meet your MC, Steve Carroll, who will provide a rundown of the day’s program including what to expect, speaker info and more.

8.50am The Adaptability Quotient

What is today’s key quality for individuals and organisations that wish to thrive in a world of constant change? In this presentation, Future Crunch provides the answer. The next decade belongs to those who are willing to adopt new ways of thinking. People with a high AQ, or Adaptability Quotient - have the ability to thrive in unpredictable environments.

10.10am Morning tea (Violet ballroom foyer)

10.30am Cult Status: How to build a business people adore

The community that forms around our businesses - from our staff to clients and suppliers - is more important now than ever. Sometimes a community might form naturally around an agency, but how do you consciously nurture and grow it into a business that everyone truly adores? In this engaging keynote, you’ll learn the seven steps required to turn everyone around you into lifelong advocates for what you do, which will increase your passion, fulfilment and revenue.

12.00 pm Lunch (The Café)

12.50pm The invisible edge

Join Samantha McLean and top performing principal Mark Kentwell for a session that goes beyond the usual real estate measures of success.

1.20pm From mortar to machine learning: How AI will shape the real estate industry

Discover current AI tools, future possibilities, and the practical steps to integrate AI into your business model. This session provides a comprehensive overview of AI’s impact on real estate, from past milestones to future trends, providing insights on how to leverage AI for a competitive edge and enhanced customer experience.

2.35pm Day 1 Wrap

Wrapping the relevant takeaways and actions from Day 1.

3.05 Afternoon tea (Violet ballroom foyer)

Free time to explore or freshen up for the evening’s activities.

6.00pm The Kolmeo Gala Dinner (Unity Garden)

Steve Carroll

Tim Duggan

Mark Kentwell

Jeff Turner

An exclusive beach-front venue, featuring endless views of the Indian Ocean and the iconic Balinese Pura Geger Temple perched on the cliff of Nusa Dua bay.

9.00pm The Realty Assist After Party (SkyBar)*

Unwind and kick on with your new friends and colleagues.

Future Crunch

Tané Hunter and Rhea Mercado

Steve Carroll Samantha McLean

Wednesday 5 July

6.00am - 8.00am Breakfast (The Café)

8.00am Conference Doors Open (Violet ballroom)

8.20am Day 2 Welcome

Meet your MC, Steve Carroll, who will provide a rundown of the day’s program including what to expect, speaker info and more.

8.40am The Five Elements of Value

Add value! In this age of the digital era and experience economy, the concept of adding value has virtually become a mantra and a daily hashtag. But what is value, and how can you define it for your customer?

10.00am House hunting in the AI era

Elite Agent Editor Kylie Dulhunty will lead an expert panel interview with Jack Henderson, Steve Brendish, Gavin Lloyd and David Choi to discuss how AI has and will continue to change the way buyers search for and purchase property. And, most importantly of all, what those changes could mean for selling agents looking to close deals.

10.30 Morning tea (Violet ballroom foyer)

10.50am The Breakout Sessions (Violet Ballroom and Leatris Room)

Steve Carroll

Mark Carter

Kylie Dulhunty

Culture Playbook - Hannah Gill In this workshop session, come away with the tools and strategies you need to build a culture playbook that empowers your team and clearly articulates to customers your points of difference. You’ll define your business and personal values in such a way that they create impact in your team, drive your rewards systems and assist in recruiting new talent.

Stock management and profitability - Mark McLeod An extra 10 days on market reduces turnover by 30 per cent - and it’s controllable regardless of the economy and/or geography. Mark McLeod will show you how to manage key revenue and cost relationships in your sales business to improve profitability.

12.00pm The $1 Trillion Question: Will AI ‘cross the chasm’?

It’s clear that AI is not going to be a “nothing burger” but will it change everything?

John Foong, the Chief Revenue Officer of Domain Group and a veteran of Google and Uber will debate this topic with Jeff Turner - with a particular focus on AI’s potential to transform the real estate industry (as well as its broader societal implications.)

12.30 Lunch (The Café)

1.10pm Case Study: 2023 - The year of the zero cost real estate business? This is the session where everything comes together. You’ll use everything you’ve learned in one of Scott’s renowned HBS style ‘case study’ sessions. Be prepared to listen to diverse view points and note action items that you can take back to your own business.

2.25pm Afternoon tea (Violet ballroom foyer)

2.45pm AQ in Action

Our Day 2 wrap with a summary of actions and takeaways moving forward, along with a final wrap from Sam and Steve.

3.45 pm Conference Day 2 Finish / Free time to explore or freshen up for the evening’s activities.

5.30pm The Propic Farewell party

Meet at Hotel Reception for bus transfers to Canna Bali.

9.00pm The Propps/Before You Bid After Party

Bus transfers back to The Mulia for our final after party at SkyBar*

*Please don’t forget to check the app for any late changes.

John Foong and Jeff Turner

Scott Bateman

Samantha McLean

AI Powered Agents - full day Accelerated Workshops

Agents, PMs and Leaders: Are you ready to revolutionise your lead generation, operations and conversion?

From strategy to execution, we will show you how to use tools like ChatGPT to save time and accelerate profits doing jobs that used to take forever

Here's some of what we will cover:

Overview of ChatGPT and large language models, new tools and what they can do for you

How to design effective prompts (so you get what you need quicker!)

A marketing model for growth (even in tough markets) for sales or PM

Using ChatGPT for email/newsletter marketing Strategies for using ChatGPT for consistent Social Media

A content repurposing blueprint for maxing your efforts across platforms

and more!

If you are not doing any of the training that Elite Agent offers - then you are falling behind (and, hey I don't mind at all!) - Claire Weggery, Get Smart Property

CODE: ER23

Brisbane

Marriott Hotel

Brisbane City

15 August

Perth

Fraser Suites

Kings Park

24 August

Melbourne

Element Melbourne Richmond

29 August

Sydney

Christie Spaces

North Sydney

31 August

2023 Presenters +

FUTURE CRUNCH

Tané Hunter

CANCER RESEARCHER AND SCIENCE COMMUNICATOR

Tané is the founder of Future Crunch, a group of scientists, artists, researchers and entrepreneurs that believes science and technology are creating a world that is more peaceful, connected and abundant. Their mission is to foster intelligent, optimistic thinking about the future, and to empower people to contribute to a 21st century that works for everyone.

HEALTHCARE HUMANIST AND STORYTELLER

After witnessing the rise of occupational burnout in colleagues and experiencing it herself, Rhea shifted her focus from the patient to the professional, and founded The Intelligent Rebellion and Threesticks Training and Development, creating safe spaces for connection, igniting better conversation, and empowering professionals to speak up and contribute their vision towards a better future.

Rhea Mercado

“Future Crunch... Where do I even start? Absolutely inspiring, incredibly interesting and just overall outstanding.”

– Sarah Kelly, Marketing Director, Partnerize

Mark Carter

INTERNATIONAL KEYNOTE SPEAKER, TRAINER AND COACH

Mark has over 25 years’ experience as a global learning and development professional. His TEDx talk was the movie trailer for his latest book Add Value. Mark is the founder of a learning management system for SMEs and accredited in a variety of globally recognised tools. He regularly consults with businesses around key pillars such as: leadership, culture, onboarding, sales, customer experience, adaptability and creativity and team/personal development.

Jeff Turner

TECHNOLOGY X HUMAN BEHAVIOUR

Jeff Turner looks beyond the “how” of technology to get to the “why” that unleashes the true power. He has served as entrepreneur in residence for Second Century Ventures (backed by NAR in the USA). Currently, he is a an advisor to Venture MLS, StylDOD, and Pillar To Post and as a mentor to several other startups navigating the complexities of the North American real estate market. He is also a cofounder of the recently launched REALTOR Association Management Platform Tangilla.

“When it comes to thought leadership in the real estate, technology and AI space, Jeff’s knowledge, insight and expertise are industry leading. Jeff will make you think, initiate change and lead you forward in an encouraging way.”

- Kon Stathopoulos, Group Principal McGrath West | North West | Hills | Hawkesbury

Meet the first property management platform that grows agencies, removes the stress of property managers and delivers an unmatched experience to owners and tenants.

Tim Duggan

NEW MEDIA ENTREPRENEUR, AUTHOR

Tim has co-founded several digital media ventures, most notably Junkee Media, one of the leading publishers for Australian millennials. Tim’s first book, Cult Status: How to Build a Business People Adore, was named the Best Entrepreneurship Book at the 2021 Australian Business Book Awards. His second book, Killer Thinking: How to Turn Good Ideas into Brilliant Ones, explores creativity in the modern workplace, and was named by Apple Books as one of the Top 10 Books of 2022.

Samantha McLean

FOUNDER, ELITE AGENT

Samantha McLean is a highly respected and influential figure in the Australian real estate industry. Samantha has over two decades of experience in the industry, and prior to founding Elite Agent, had a successful corporate career with blue-chip companies like PwC, Optus, Cisco, and British Telecom. Her experience in corporate strategy and marketing has been instrumental in helping Elite Agent become a go-to source for real estate news, insights, and education.

“Tim’s a master of engagement and has a rare gift for building rapport, sparking interaction and raising the energy in the room. Best of all, he leaves people with simple, actionable ideas they can’t wait to experiment with.”

– Craig Davis, Co-founder, Sendle.

Innovating for agents

Discover unparalleled insights with Domain

We’re investing in technology to unlock the potential in your CRM. Our latest innovation, the soon to be launched LeadScope encourages more focused conversations in a changing market. It uses insights from Domain to identify the properties in your CRM database that are most likely to come to market within the next 12 months.

Unlock the potential in your CRM

To learn more, speak to a Domain representative or scan the QR code

Defer marketing payment and have RealtyAssist advance the funds to your agency account.

Help vendors finance home improvements, repairs or staging to get the best possible sale outcome.

Settlement fund advances.

Competitive fees and hassle-free application process.

Over 10,000 members and counting.

Hannah Gill

DIRECTOR, THE PROPERTY COLLECTIVE

Inspired by the ‘get out what you put in’ reality of real estate, Hannah Gill is a seasoned and award-winning property management expert at The Property Collective. A Telstra Business Woman of the Year alum and President of the REIACT, Hannah is also an accomplished industry speaker and consultant renowned for her work in helping agencies create and live meaningful culture playbooks.

Mark McLeod

CHIEF STRATEGY OFFICER FOR REAL ESTATE, RAY WHITE GROUP

When Mark McLeod speaks, real estate agents listen. One of the industry’s true thought-leaders, Mark’s expertise and honest, down-to-earth approach to business and real estate make him a highly sought and respected trainer.

“Hannah Gill is insightful and engaging. She’s able to help you dig down deep and put into words what your business means, your values and what you stand for. Hannah helped us create a culture playbook that underpins all that we do.”

- Kylie Dulhunty, Editor, Elite Agent.

Bateman CEO, KOLMEO

Scott is the CEO of Kolmeo, property management software for the next generation of property managers. Scott has more than 20 years of experience leading strategy and growth at some of Australia’s biggest companies, including four years, leading growth and transformation at Australia’s biggest property manager, Little Real Estate. Scott holds multiple masters degrees covering strategy and globalisation and is a graduate of the world’s most elite business leadership program – the Advanced Management Program at Harvard Business School.

Steve Carroll CHIEF EXPERIENCE OFFICER

Steve Carroll is a respected real estate executive who is passionate about innovation and technology. He served as Director of Industry Relations at REA Group for over a decade and founded Digital Live, a consultancy that helps businesses enhance their operations and customer engagement through digital technology. Digital Live is a big supporter of Hands Across the Water, a non-profit that supports underprivileged children in Thailand. He is currently the General Manager of Sales - Queensland for The Agency.

“Steve is one of the most inspirational leaders I’ve had the pleasure of working with. He is a tremendous speaker, a tremendous motivator, he understands customers, he understands digital trends, and he has a real knack for getting that across to the audience.”

– Ed McManus, former CEO of deliveroo.

Scott

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The leading independent provider of Building & Pest Inspection reports (for Sales and the new Minimum Rental Standards)

"BYB reduced our time to get properties to unconditional tenfold, saving us 5 hours per listing"

- STAVROS AMBATZIDIS OBRIEN REAL ESTATE

"A BYB report is a really useful tool that helps us be completely transparent and in control at all times."

- NICK GITTOES ATLAS LOWER NORTH SHORE

Follow us on socials!

Maz Farrelly

IF YOU’VE WATCHED IT, SHE’S PROBABLY MADE IT

Maz Farrelly is a keynote speaker, media trainer, and consultant with over 25 years of experience in TV and film producing. She has produced content viewed over eight billion times and worked with the biggest names in the world and has won a Logie award for producing The X Factor show. As a keynote speaker and media trainer, Maz is known for bringing out the best in people and helping them achieve their goals.

Gavin Lloyd

SALES AND CX LEADER, TRADE ME PROPERTY

With over a decade of experience in the property portal space, Gavin is the face of Trade Me Property, bringing the company’s data to life in the public arena, ensuring both consumers and industry representatives are well informed of movements in the property market.

“Maz was so good at Elite Retreat last year, we had to have her back! Sharp and witty, Maz not only has great stories to tell, she knows exactly how to engage an audience and what you can do in your business to do the same.”

– Samantha McLean, Managing Editor, Elite Agent

Jack Henderson

CEO HENDERSON ADVOCACY

Jack Henderson, the dynamic Founder and CEO of Henderson Advocacy, leveraged his personal success in the property market to revolutionise the industry. Identifying a gap in the market, Jack tapped into the unexplored potential of digital marketing and branding in the property sector. Under his leadership, Henderson Advocacy has emerged as a Sydney-based firm that is reshaping traditional norms and guiding others to successfully navigate the complexities of property investment.

Kylie Dulhunty

ELITE AGENT EDITOR

Kylie Dulhunty is an accomplished journalist with over a decade of experience in the industry. She began her career reporting on police, court, and health matters. In 2007, she transitioned to real estate reporting at the Geelong Advertiser, where she developed a passion for property news. From 2010 to 2013, Dulhunty served as the Property Editor at Mosman Daily and The North Shore Times. She currently holds the position of Editor at Elite Agent.

“Over the years I have done countless interviews for so many people and the crap they come out with has been most disappointing. YOU are soooooo talented at your job! You have captured my thoughts and feelings perfectly and I could not appreciate you any more!”

- Josh Horner from The Horner Agency (just one of Kylie’s raving fans...)

David Choi

CHIEF COMMERCIAL OFFICER, PROPIC

David Choi, known as the “go-to-guy” for PropTech innovators in Australia, has been shaping the landscape of the country’s property and Fintech businesses over the past two decades. His career highlights include being a founding member of Homepass and spearheading commercial and technological innovation at Domain Group and realestate.com.au. In 2020, he joined the board of Propic as a non-executive director and later transitioned to the role of Chief Commercial Officer + Strategist.

Paul Hoefer

HEAD OF CONNECTNOW

As Head of connectnow, Paul Hoefer sets the strategy for the business and leads the team that helps customers move home through a multitude of partnerships, including with leading real estate agents. Starting out in 2001, connectnow has grown rapidly to become one of Australia’s most trusted home-moving service providers.

“The future of real estate is the marriage of technology and the human touch.” – David Choi, Propic

Mark Kentwell

CO-FOUNDER | DIRECTOR, PRD PRESENCE NEWCASTLE

Mark Kentwell is a forward-thinking estate agent and venture capitalist, celebrated for his innovative strategies in business optimisation. Three-time recipient of the PRD Australian Principal of the Year award, Mark has set record-breaking sales in Newcastle. Leading one of Australia’s topperforming agencies, he is renowned for his mentorship and leadership style, inspiring his team to achieve outcomes where every stakeholder feels valued and successful.

Stephen Brendish

CO-FOUNDER AND CHIEF PRODUCT OFFICER AT PROPERTYMATE

Steve is Co-Founder of PropertyMate and Founder/Design Director of 2 Dam Creative. A risk-taker in the digital space driving fearless ideas, crisp technology, and bold solutions, Steve takes a nimble approach to transforming visions into realities that change the way people interact with technology. Well versed on the AI world speaking circuit, Steve leads with curiosity and insight as he continues to challenge norms and widen possibilities of what’s possible.

“I’ve had the pleasure of working with Mark and the extraordinary award-winning PRD team and seen first hand the impact of strong, authentic leadership on not only the team members but on the positioning and success of the business.”

- Christina Joy - success mentor, speaker, author

Elite Retreat Event Partners

Introducing Kolmeo, property management software designed to simplify the tasks related to property ownership, renting, and management. Kolmeo caters to all aspects of the property management triangle: tenants, owners, and property managers. By unifying all parties in one place, it enhances transparency and ensures everyone understands their roles and deadlines. kolmeo.com

Propic aims to revolutionise the Australian real estate industry by utilising cuttingedge Artificial Intelligence technology to benefit agency owners and trailblazing PropTech leaders. Propic invests substantial funds in data scientists who are developing ways for modern real estate agents to join the digital dots affordably and access exceptional data. propic.com.au

Trade Me Property provides exposure to New Zealand’s most active and engaged property seekers. Research indicates that 80 per cent of Kiwis prefer to use Trade Me Property when seeking a property. Our products and packages aim to maximise listing exposure, stimulate buyer interest, and generate more leads through robust and consistent brand presence.

trademe.co.nz/property

Established in 2001, connectnow has swiftly grown to become one of Australia’s most reliable home moving service providers. With over two decades of experience, connectnow collaborates with a diverse array of leading service providers to simplify moving processes. We have successfully assisted more than 1.5 million customers with their home moving needs - ranging from electricity to gas and internet - in a single phone call. connectnow.com.au

Propps was established in mid-2020 with a straightforward mission to enhance the real estate experience with agents at its heart. After a highly successful pilot phase, Propps expanded rapidly, processing more than $1 billion in offers before its official launch. With robust investor backing, Propps continues to thrive, maintaining a clear focus on delivering value to agents, buyers, and vendors. propps.com/

Domain Group, a leading Australian property marketplace, comprises a portfolio of brands. We aim to inspire confidence in making property decisions. At Domain Group, we are creating the ‘incredible find’ — the perfect size, space, and environment for you to enjoy what you do and who you do it with.

domain.com.au

Elite Retreat is made possible with thanks to our Event Partners. Chat with them about the solutions they are able to provide to help your business grow.

Australian-owned and operated, Realty Assist Australia delivers simple and efficient pay-later solutions to the real estate industry. Our goal is to make our client’s lives easier. With over 50 years of combined experience in the real estate sector, our team comprehends the everyday challenges encountered by agencies, agents, vendors, landlords, and tenants.

realtyassist.com.au

The Rex platform empowers agencies to manage their sales and rental businesses in a manner that fuels growth. We foster this growth by delivering a superior customer experience, nurturing customers throughout their entire property journey—from tenant to buyer, landlord to vendor. rexsoftware.com

Before You Bid is the home of property compliance and due diligence in Australia. It is a platform that delivers independent reports from trusted inspectors, so that buyers and sellers can share the information and cost of the one report. This helps bring transparency to the campaign, improves the customer experience, and decreases the days on market.

beforeyoubid.com.au

PropertyMate is spearheading a major shift in the digital property space. Created, owned, and driven by the industry, PropertyMate enables buyers to focus more on lifestyle and less on location, modernising property exchanges and connecting people with unique homes. As a future-proof digital hub, PropertyMate offers a comprehensive suite of digital solutions and a strong industry voice to enhance agent efficiencies. propertymate.com.au

Established in 2005, Cloudstaff is a Brisbane-based venture capital-backed firm offering innovative outsourcing solutions. With a strong workforce of 4800, the company streamlines business processes, enhancing efficiency and profitability. Led by CEO Lloyd Ernst, Cloudstaff uses technology to merge people and processes, aiding clients in shifting time-intensive tasks to cost-effective outsourcing. cloudstaff.com

LEADING QUESTIONS

Intelligent optimism is a mindset flip, the juggling act of holding reality in one hand, possibility in the other and asking “what’s next?” It’s an understanding that our greatest problems are our greatest opportunities. Where am I looking at problems and not at solutions?

Most companies ar e founded on idealism, but as they grow, they take more out of the ecosystem than they give back. To sustain purpose in the unwritten economy, return on impact is paramount. Am I creating more value than I capture?

W e don’t lack the means to solve the world’s biggest challenges, but rather the imagination. Creativity is one of our most powerful human advantages. We should use it. How can I tap into creative resources to solve a current problem?

OPTIMISM

PURPOSE

CREATIVITY

The stories we tell ourselv es today create the reality we live in tomorrow. We need to tell them wisely, compassionately, and beautifully, in order to capture the attention of people who matter. What story am I telling myself about the current environment and what future narrative am I creating?

NARRATIVE

Our bodies and brains ar e not evolutionarily equipped to process the amount of information we’re consuming. And despite the volume we consume, we’re deficient in good quality evidence-based information. What is my information diet and how does it need to change?

The cor e truth of the natural world is that to have a thriving ecosystem, you must have diversity. The same is true for the ecosystem of humanity and business. It’s time to restore the vibrancy of our organizations. I s your organization diverse by design and if not, how can it be redesigned?

In the unwritten economy , collaboration trumps genius. As the rate of change and technology continues to accelerate, remaining in our silos and echo chambers only limits our potential. What is one problem that could be solved by going outside your industry?

DIVERSITY

COLLABORATION

The secr et to sustainable energy over your workday and career is not about working longer but working smarter, managing energy flows and prioritising rest and downtime. What habits and routines do you need to break or create to enable productivity and performance?

Courage underpins one of the biggest r evolutions in leadership. It’s rarely a one-off event. Instead, courage is cultivated through a constant, conscious practice of showing up in the face of risk, uncertainty and exposure. How can I create a daily practice of courage? When do I reach for my armour?

Adaptability is the essential skill for na vigating the Great Transformation. To thrive in unpredictable environments you need flexibility to respond to changes and challenges. Am I willing to show people that I have changed my mind?

WELLBEING

COURAGE

ADAPTABILITY

LEADERSHIP

PEOPLE WHO UNDERSTAND THAT:

A CALL TO LEADERSHIP

Leadership is the courage to ask difficult, inconvenient questions that have been silenced for too long. Leadership is about bearing witness to the greatest of challenges and saying “we can solve this.”

Leadership is a state of perpetual learning, as a changing world invites us to adapt again and again.

The Great Transformation is a revolution in the scientific and technological foundations of the modern economy, harnessed for the betterment of people and the planet by a tribe of dynamic leaders with a new vision for the role of business. These are the kind of leaders who place purpose above profit, and create the future by making it, rather than predicting it. Leaders who use fierce, intelligent optimism as a call to arms, and who use technology in service of humanity, not against it.

Leadership is the stewardship of change. It’s time to gather together around the global campfire and weave a new narrative of how we change the world. To leave behind the narratives that no longer serve us and build bridges across industries, competition lines and countries so we can come back to each other again.

If not us, who? And if not now, when?

-JOHN E. LEWIS

WE REPORT GOOD NEWS

Every week, Future Crunch puts together an email newsletter, filled with stories of human progress from every corner of the world, the latest breakthroughs from the frontiers of science and technology, and the best thought leadership from around the web. It’s our way of constantly challenging ourselves to update our ideas about how the world works.

It’s a great starting point for anyone looking to improve their Adaptability Quotient (AQ).

If you’re interested in trying to distinguish the signal from the noise –and we’re offering all attendees here a free three month subscription.

Visit

How to build your personal empire without hiring a single employee

AI has been transforming many aspects of our work and life, and we can expect this trend to accelerate in the future.

In November, research lab OpenAI launched ChatGPT, which immediately went viral and had one million users in just its first five days, thanks to the sophisticated way it can generate in-depth, human-like prose responses to queries.

ChatGPT can generate blog posts, hashtags, video scripts, podcast questions, SEO keywords - the list is endless.

In March this year, Open AI launched version four, which has greater knowledge, is more accurate, has greater problem-solving skills and advanced reasoning capabilities.

When taking the Uniform Bar exam, ChatGPT finished in the 10th percentile, while GPT-4 finished in the 90th.

The newest version, available on the paid platform ChatGPT Plus, also accepts image inputs and can remember and act on 20,000 words.

But ChatGPT is not the only AI tool in town – there are plenty of others including image generators, design tools, video editing tools and more.

Here are 14 AI employees to superpower your productivity efforts. And you can hire them all at a fraction of the cost of one regular employee. 1

A COPYWRITER

ChatGPT can be used to write a real estate listing description by analysing existing descriptions and generating new ones based on patterns and relevant keywords.

By inputting the property features and other relevant information, ChatGPT can create a listing description that is tailored to the property and its unique features. This can save time and effort for real estate agents and improve the quality of the listing descriptions they produce.

Just four months after Elite Retreat ‘22 wrapped a game-changing tool called ChatGPT was unleashed on the world, bringing with it a plethora of AI tools to superpower our human efforts. Here is a summary of my favourites and a few to watch.

Potential ChatGPT prompts:

• Write me a 200-word listing description for [insert address here].

• Could you please suggest a title and video description for YouTube, with keywords for a real estate agent in [your suburb].

• Give me 20 long-tail keywords for real estate sales in [your suburb].

• Write me a 600-word blog post for [one of those keywords].

Websites: For the most part, with any writing tasks, I’m referring to ChatGPT at chat.openai.com. There are other writing tools you could check out, such as lex.page, jasper.ai and canva.com.

2

A SCRIPT WRITER/ PRODUCER

Scared to make a video because you’re afraid you’ll fluff your lines? You could be as word-perfect

WHAT IS GENERATIVE AI, AND WHAT’S THE FUSS?

Generative AI pertains to the use of algorithms like ChatGPT to create content, ranging from audio and code to images, text, simulations, and videos. Recent breakthroughs in this field have the potential to revolutionise how we approach content creation.

ChatGPT, which stands for Generative Pre-trained Transformer, has been gaining widespread attention as a free chatbot that can generate responses to almost any question it is asked. Developed by OpenAI and made available for public testing in November 2022, it has already been hailed as the best AI chatbot to date.

Admirers have shared examples of its ability to produce computer code, college-level essays, poems, and even decent jokes, while others in the content creation industry, including advertising copywriters and tenured professors, have reason to be concerned about the implications for their professions.

as Sandra Sully on the 5pm news with an AI Producer, a teleprompter and a few clever prompts.

Potential ChatGPT prompts:

• Write me a two-minute video script based on [enter the address or bullet points of the features of the property].

• Now could you make the opening hook more captivating?

• Could you also please make the script for under one minute for TikTok?

• Could I please have a stronger call to action?

Websites: chat.openai.com, bigvu.com.

3 A PERSONAL TUTOR

All of the established leaders in real estate say they are always learning, reading and listening to podcasts because success comes from a dedication to education.

But like Bradley Cooper’s character in Limitless, what if you could digest all sorts of information at incredible speed?

Potential ChatGPT prompts:

• Give me the five key points from Jim Collin’s Good to Great [or insert alternative book here]

• Give me some of the lesser-known lessons from Jim Collin’s Good to Great.

Websites: chat.openai.com. If you want to be Bradley Cooper, I highly recommend my.brain.fm for background music, which might help you focus and ultimately consume more with less effort.

4 AN IMAGINARY FRIEND OR COLLEAGUE TO BOUNCE IDEAS OFF

In business for yourself, or still working from home? You can actually use ChatGPT to a) keep you company and b) sense check or develop counterarguments for widely-held beliefs.

Potential ChatGPT prompts:

• Jim Collins talks about quiet,

humble leaders, but that’s not my style. I can be a bit flashy and I don’t know how to change who I authentically am. What should I do?

• What is the opposite view of this, is it valid?

Websites: chat.openai.com.

5 A LEADERSHIP COACH

You can ask ChatGPT to ‘act as’ a professional to give you all kinds of assistance, even when it comes to picking up the phone.

Potential ChatGPT prompt:

• I want you to act as a motivational coach. I will provide you with some information about someone’s goals and challenges, and it will be your job to come up with strategies that can help this person achieve their goals. This could involve providing positive affirmations, giving helpful advice or suggesting activities they can do to reach their end goal. My first request is, “I need help motivating myself to call customers on my database that I haven’t spoken to in a while”.

Websites: chat.openai.com. For more prompt inspiration use ‘act as’ visit aipoweredagents.com

6 YOUR PERSONAL STENOGRAPHER

Stenographer (n) a person whose job it is to transcribe speech in shorthand. In previous years, many personal assistants had such skills. But, instead of hiring an expensive resource, today, you can copy and paste documents, reports, video or podcast transcripts and even URLs into ChatGPT and ask it questions about the content to isolate the information most relevant to you.

Potential ChatGPT prompt:

• Could you summarise this transcript into 10 bullet points with the most important ideas [paste transcript].

Websites: chat.openai.com. For summarising meetings directly from Zoom you could check out krisp.ai, otter.ai and others.

7

A DATA ANALYST

In a job where trends and patterns matter (if you are in real estate, that’s a definite affirmative!), similar to taking notes, you can ask ChatGPT to spot trends in large amounts of data, which you can potentially take action on. You can also paste Excel data into the tool, so I will be interested to watch how that creates an opportunity to glean trends from your own office database as these tools get smarter.

Potential ChatGPT prompts:

• Could you give me trends in the level of the Australian dollar compared to the US dollar?

• What can you tell me about this data [paste data]?

THIS HOUSE DOES NOT EXIST... OR DOES IT?

To get some idea of how an image generator like Midjourney might work with a tool like ChatGPT, check out thishousedoesnotexist.org. This website uses a machine learning algorithm known as a Generative Adversarial Network (GAN) to generate photorealistic images of non-existent houses.

The GAN algorithm consists of two opposing datasets that compete against each other to improve and refine their individual understanding of a concept.

These are usually known as a generator and a discriminator. In this case, the generator is trained on a large dataset of real-world houses,

• Can you see any patterns or trends?

Websites: chat.openai.com.

8

and its goal is to create an image that looks like a real house.

The discriminator is trained to distinguish between real and generated images.

When a user visits the website, the generator network creates an image of a non-existent house, and the discriminator network evaluates the image.

If the discriminator cannot distinguish the generated image from a real one, it is considered successful, and the image is displayed on the website.

The GAN algorithm is capable of generating a wide variety of house styles and architectural features, resulting in a unique image with every refresh of the website.

9

AN INTERIOR DESIGNER

Interior AI is a tool that will completely redesign a photo of a room. All you need to do is upload a photo (see before and after example). My guess is we will see an explosion of real estate tools in the not-too-distant future that will cover all sorts of design, staging and more when it comes to property photos.

Websites: interiorai.com, reimaginehome.ai, getfloorplan.com, dreamstaging.ai, dreamhouse.ai, coolalid, airoomplanner.com.

A BRAND MANAGER

Need a new logo for your business or website?

Midjourney can handle that one in a jiffy for you. But remember, when

BEFORE AFTER USING INTERIOR AI

working with any AI tool, not only Midjourney, it’s important to provide clear guidelines and criteria, not only for what you want but also for what you don’t want. Otherwise, if you leave it to AI, it can make your designs overly complex or cluttered.

Potential Midjourney prompt:

• Imagine a simple logo of a diamond, gradient, flat, vector -no realistic photo details (I finished this one off using Canva, as Midjourney is not good with text)

Websites: midjourney.com, canva.com. Other text-to-image generators include Craiyon, Dall-E2, Simplified, stablediffusionweb.com

A PORTRAIT PHOTOGRAPHER

I can’t count the number of times we’ve asked for a bio photo for folks that write for us, and instead of something professional, we’ve been sent a selfie (which never, no matter what angle you hold the camera at, looks good!). If you can’t access a professional photographer, there is another hack, which is to grab a friend with an iPhone - stand in front of something green, switch to portrait mode, smile and let your friend click while you bend and snap. The results of doing that are pretty good, for the record.

But now, with a tool like headshots by AI, you can send in 10 selfies and it will convert them to perfect LinkedInstyle portraits.

Websites: headshotsbyai.com, aragon.ai.

A SPEECH WRITER

Have you been asked to give a keynote, or build some kind of slide deck? You don’t need to be an American president to justify hiring a speechwriter, or someone to work on your slide deck - there are AI tools for that now too. Powerpresent AI will ask you what you want to create a presentation on and then get to work.

Websites: Powermodeai.com, beta.tome.app, present.yaara.ai

HOW TO ADAPT TO THE FUTURE OF WORK IN AN AI WORLD?

AI is increasingly being incorporated into our workplaces and daily lives and is poised to fundamentally change the way we live and work - the same as electricity in the home became common almost 100 years ago in the 1930s.

According to Harvard Business Review, new challenges for business leaders will include delivering financial performance at the

12

A VIDEO EDITOR

Want to turn that long-form property tour video into something under a minute for YouTube Shorts or TikTok? Munch says it can extract the most engaging, trending and impactful clips from your long-form videos, using state-of-the-art generative AI and marketing analytics.

Websites: getmunch.com, repurpose.io, Vidyo.ai.

Bonus video editor tool: check out Beatoven.ai and start creating your own music (instead of hearing a royalty-free track you’ve used all over the internet).

13

A PERSONAL STUNT DOUBLE OR STAND-IN

Still don’t like the camera? While your face is something people will connect with and is entirely the best kind of video you can create, you can step out of shot and create AI videos, simply by typing in text. If you don’t have a script, Fliki.ai allows you to transform blog articles into videos - and say they will convert your voice into an AI voice. Maybe you’ve already had your personal scriptwriter (ChatGPT) write you an article you could feed into Fliki to turn into a video?

Websites: Synthesia.io, Fliki.ai, hourone.ai, pictory.ai

same time as making investments in hiring and workforce training to support productivity and growth using these new tools and technologies.

The future will belong to leaders and businesses who can unlock productivity potential while delivering great customer service. Largely, that will involve the ability to do three things: rebalancing resources, investing in workforce re-skilling, and on a larger scale advancing new models of education, mentoring and life-long learning.

14

AN INBOX ASSISTANT

If you’ve ever looked at your overflowing inbox and thought to yourself, “I need help” look no further than Ellie. Ellie is powered by OpenAI and learns from your email writing style, takes context from your original email and crafts intelligent replies. You can also choose a mood, and yes, she is multi-lingual.

Website: tryellie.com

WHAT’S THE CATCH?

This is still new technologyso even though generative models might sound extremely convincing in what they produce, sometimes they can be just plain wrong. And sometimes biased as well - in much the same way you’ll find different biases to do with gender, race and other societal biases all over the Internet.

So if you’re going to rely on generative AI in any part of your business you need to:

• check for reputational and legal risks

• fact check everything

• always keep a human in the loop

• realise the landscape of risks and opportunities will change rapidly over the coming weeks, months and years.

AI: Game changer or nothing burger?

Background: John Foong is the Chief Revenue Officer of Domain Group. After completing two degrees at Silicon Valley’s Stanford University, he spent almost 15 years at Google and Uber in Silicon Valley and Europe and is a selfconfessed tech watcher.

It’s been incredible to witness how, over the course of the past six months, Artificial Intelligence (AI) has gone from being a classic Stephen Spielberg movie of the same name to something that has captured the imagination of not just tech heads, but much of the internet population of the world. Would you believe that “ChatGPT” (red line) is typed into Google in Australia twice as much as the word “footy” (blue line)?

My first-hand experience with technologies that changed the world (and many that didn’t)

I had the privilege of testing, selling and acquiring disruptive technology from the vantage point of Silicon Valley (USA) and Silicon Docks (Ireland, Europe) for most of the last 20 years. In particular, in my time at Google (2006-2019), I helped develop, test and sell all manner of technologies that changed the world, either created by Google or one of its competitors.

The smartphone: Google’s Android Vs iPhone - which took the BlackBerry and PalmPilot into the mainstream

Video streaming: Google’s Youtube Vs Netflix and Disney+.

Cloud productivity: Gmail/Google Workspace Vs Microsoft 365.

Cloud computing: Google Cloud Platform Vs Amazon’s AWS and Microsoft’s Azure.

I also was privileged to work on the rideshare and “delivering anything” revolution at Uber, and was around the corner from Facebook’s social networking (especially on mobile), Amazon’s “Everything Store”, TikTok’s short form autoplay videos, and Tesla’s electric vehicles (with EVs first brought into the mainstream by the Toyota Prius). These are all technologies over the past 20 years that have successfully made their way into mainstream usage. However, I also witnessed all manner of technologies that we thought might change the world but didn’tat least yet.

Face wearables: Google Glass (I won’t show you the photos, but I wore this every day for about six months and was convinced it would change everything).

Self-driving cars: We thought it would revolutionise transportation, and Google’s Waymo was at one point valued at $70 billion (with Uber in hot pursuit until they closed that division down).

Virtual reality: This has been just around the corner for the past 30 years. Perhaps Apple’s Vision Pro will be more successful?

Drones: I saw more use of these for wedding videography (which was cool) than I did for item delivery. Honourable mention for some other areas Google was not involved with – the blockchain, crypto beyond Bitcoin, Theranos (once the hottest start up in the world), and my favourite, the Segway (remember that awkward motorised scooter you stand on with two feet that were meant to change micro-mobility?).

How does any technology reach the mainstream?

The challenging thing in figuring out if a technology will go mainstream is that the early years seem the same. During this time, the trajectory of self-driving cars and face wearables was indistinguishable from early Amazon users and iPhone buyerslots of rapid growth, excitement and potential.

One book that can help us determine the likely success of AI is Crossing the Chasm, by Geoffrey Moore. It’s based on the Technology Adoption Life Cycle (TALC). Originally published in 1956 to help explain why farmers adopted certain agricultural technologies (such as fertiliser and hybrid seed corn) and not others, it was later expanded to encompass technology in general.

Innovators (first 2.5 per cent of the population to try the product). They love new ideas, they tend to have more wealth so they can afford to buy something higher-risk that may not have longevity - they enjoy being literally ahead of the curve. Some of us at Elite Retreat are like this – we are risk-takers and are happy to invest time and money to be the first to adopt what could be the next big thing.

Early adopters (next 13.5 per cent). They are less risk-loving than innovators but still want to be

ahead of the curve and the next trend. Unlike innovators, they are not technologists, and they care about the practical advantages of the product.

They hold positions of ‘opinion leadership’ – the majority look to them to determine if a trend is truly credible. Think celebrities – they are not going to be the very first to endorse something, but they might be fast followers, once the product or technology has traction.

Many of us at Elite Retreat share this mindset – not technology-centric, but winning-centric, and keen to understand what technologies can do that.

Early majority (next 34 per cent). They are slower than innovators and early adopters but are still above average in terms of social status and business outcomes. They share some of the early adopters’ ability to relate to technology, but ultimately they are driven by a strong sense of practicality.

Think of many of the successful agents who are early in their careers – they are not open to risking too much time or money on something

unproven, but once it’s hit the mainstream, they will try to adopt it. Late majority (next 34 per cent). They adopt after a significantly longer period of time – after the average. They would rather be conservative and late rather than waste time and money on something that is not guaranteed to be useful.

The late majority lack confidence in changing their behaviours. I think many later-stage but very successful agents are like this with technology. They will eventually change – and before the laggards – but it has to be well in the mainstream by this stage. A lot of more tenured agents - who have tried and true methods that don't involve much technology - are here. Laggards (the last 16 per cent). Focused on traditions and the status quo, laggards will adopt when they absolutely must. Think of the last adults you know to have gotten a smartphone … holding on until it became frustrating to not be an adopter.

The key insight of this research was to understand that the five different

groups had different needs. In short, innovators didn’t need much beyond the possibility that the technology could be the next big thing – the combination of relatively deep pockets and a high tolerance for risk made it attractive enough.

But early adopters wouldn’t take as much risk – their credibility is linked to the success of the technology, so they need a higher probability of success, lest their brand and time be tarnished.

By the time you are hitting the early and late majorities, the technology has to make sense and materially better value than the current way of doing things.

So, what was the difference between a game-changer and a nothing-burger?

What Geoffrey Moore was able to do is adapt the curve and identify the most difficult jump, which he called The Chasm.

The Chasm is the gap between the early adopters, which he called visionaries, and the early majority, which he called pragmatists. It was a tipping point when something truly becomes mainstream (see here for a dancing video illustration).

Put simply, technologies only cross The Chasm if they can bridge the gap between the adoption by the visionaries and the pragmatists. Based on his work and similar theories, I have identified 5 characteristics of technologies that have been able to cross the C.H.A.S.M:

CURRENT - Is the current technology pretty painful? For the early majority, how painful is the problem that’s being solved? One of the reasons Uber succeeded was because taxi availability and reliability was so poor.

HIGHER QUALITY - Is this new tech much better than the current solution? How much more satisfying is the new technology? The iPhone was leaps ahead of the BlackBerry and Windows Phones at the time. Amazon brought you the same product at the same price you would buy it for at the store, except delivered within 48 hours.

ADOPT - Is it easy to adopt? The first 16% are happy with spending time and effort to learn how to use a new technology – the pragmatist early majority are time-poor and risk-avoiding, even though they want to be ahead of the average. The brilliance of the iPhone (and iPad) was its simplicity - no instruction manual needed, just intuition!

SPEND - Will this displace existing spend? In general, it is much harder to get consumers to pay for something new unless they can stop spending on something else. Amazon’s AWS allowed companies to shut down their data centres and pay-per-use instead, so it didn’t require additional spending, just a diversion of existing spend. Uber was twice as easy to use as taxis at half the price.

MARKET SIZE - Will this serve a large market/set of needs or just niches?

Innovators and early adopters are typically happy to use the new technology for niche use cases. Even Google+ (Google’s Facebook competitor) got a lot of traction with photographers (a visionary group) initially, but it was not able to break into the mainstream. Electric vehicles have started to gain traction because it’s not just for those who care about the environment (niche), but the larger market of folks looking for quieter cars, which are more efficient (majority).

The $1 trillion question – will AI cross The Chasm?

For simplicity – let’s apply the crossing-the-chasm framework to what we know of AI so far. We’ll focus on the agent journey, even though there is a parallel analysis on how AI could disrupt the experience for the buyer/seller (e.g. improving home findability on a portal).

CURRENT - Is the present pretty painful? Moderately. As a real estate agent, there is a lot of copywriting (writing the listing description) and assembly of marketing materials. It’s the same with email responses. These take time but must be

customised. We have already seen many AI-driven tools that can save material time.

HIGHER QUALITY - Is this tech much better than the current solution? Probably. The speed at which generative AI can generate presentations and context is impressive. The quality is somewhat comparable to humans. When the quality becomes the same or better, then we may have a slam dunk.

ADOPT - Is it easy to adopt?

There has been an explosion of great apps, extensions and websites that have made it beautiful and fun to try AI out.

SPEND - Will this displace existing spend? Probably. It’s not clear that marketing or copywriting departments can shrink just yet, though it’s clear AI can probably help them be somewhat more productive. When AI is actually shrinking marketing departments – in the same way, some property management solutions have actually allowed PMs to double how many properties they can manage – these cost savings will accelerate adoption.

MARKET SIZE - Will this serve a large market/set of needs or just niches? Definitely lots of needs and potentially a very large market. In less than six months, I have seen many useful real-estate-specific AI tools and hundreds of tools that could be useful in real estate. This is just the beginning.

So, the verdict?

I can't give you that just yet, that's up to you to decide (and time will tell!).

70,000 managed over properties

226,405

This year, Claire has: Served and supported in rental arrears in outstanding invoices

$380,673

7,345,629

tenants Closed Chased up in time

3 years