Property Industry leader Ben Kingsley is our feature guest this week as he talks about his earliest property investment lessons and how he nearly fell for a big mistake he now sees many investors make.  Like so many of our past guests, Ben is very generous with the advice he gives which is drawn from his personal experiences.

A Melbourne start-up is capitalising on our love affair with auctions by developing an App to enable consumers to watch auctions either live or on demand from anywhere in the world.  The App is called GAVL and with it a potential buyer can “virtually” attend dozens of auctions across several states over a weekend. GAVL is the brainchild of Joel Smith who tells us about it today.

A recent survey by the Property Investment Professionals of Australia (P.I.P.A) revealed the many and varied sources investors consult for advice, but since most property investors fail to achieve the financial freedom they deserve, and with less than 8% ever owning more than 2 properties, a better question to ask would be…Who should you ask for property investment advice?  Michael Yardney helps with an answer to that question in the show.

Kylie Davis from Core Logic is fresh back from the USA where she attended the worlds largest real estate conference that focuses on the future of real estate and she tells us where it is all headed and about some of the innovations that are on the way to make it easier and more transparent to transact property.

Changes to the real estate sector in NSW that came into effect mid-way through 2016, require real estate agents to disclose all reports taken out by a vendor or potential buyer – usually building, pest and survey reports.  Conveyancer Garth Brown tells us now that this has led to some agents and vendors supplying false reports.

 
Transcripts:
The real estate experience of the future - Kylie Davis
Kevin:  There’s a conference in America that seems to attract 4000 to even 5000 real estate agents and real estate professionals from all around the world. It’s called the Inman Conference. It’s done a couple of times each year, and there’s a lot of great information that comes out of it because it’s like a meeting of the minds – where’s the industry going, what’s going to happen, how will it be shaped in the future?

Kylie Davis from CoreLogic attended that conference. Kylie is the head of property services marketing at CoreLogic, and she joins as our guest to talk about some of the findings coming out of that.

Kylie, thank you very much for your time.

Kylie:  Thanks, Kevin. Thanks for having me.

Kevin:  Let’s have a look at this, because we’re going to talk about bots – which are robots – and virtual reality and lots of other things. What were some of the major takeaways for you from a consumer point of view as to how you see real estate changing in the future?

Kylie:  I think the main takeaway for consumers, for buyers and sellers, is that real estate is going to start to get easier and less stressful. But the tradeoff for that is that you’re going to have to share your data with real estate agents.

What that means is that the algorithms and the artificial intelligence that’s sitting behind a lot of the portals and behind a lot of our apps like Facebook are going to come together and start to help you find the perfect property or identify information that will help you find a great agent.

Then there are going to be places you can go that both help you understand what the process is and make it really clear and understand where you are in the process and what the next step is so that you get a lot more transparency around how the transaction is going.

Kevin:  Transparency is the key word, I think. As consumers, we’re already experiencing some of this. There are some groups who are getting information or who have information that we don’t even know they have in terms of who we are so that when we attend an open home,