Local Legends Nov 2020

Each month, the team at Proptech BNE. will be highlighting a particular individual who goes above and beyond to support the growing proptech community here in the city and what a better way to kick this off, than shining a light on Macquarie’s National Head of Residential Real Estate, Domonic Thompson.

The Brisbane and broader Australian property technology ecosystem is lucky to have individuals such as Domonic working hard to improve the property market by leveraging the capabilities of the proptech community!

Proptech BNE. recently asked Domonic to share his views on proptech and what he is most eager for when looking into 2021.

Q) As National Head of Real Estate at Macquarie, what excites you the most about the emerging proptech sector?

A) I’m personally excited about how the evolving nature of Propetch gives rise to new potential. Potential to re-consider what’s possible for all stakeholders in the industry whether you are running (or part of) a property services company, an owner of property assets or simply engaging with property in other ways. Proptech is changing the way people do business, and experience property.

Proptech will also enable new ways to create value, help remove waste and inefficiencies, help delight clients, and empower staff. To me, that’s the exciting aspect of what Proptech can bring to Real Estate. And for property owners or investors, Proptech provides new ways to engage with their asset or investment, reduce inefficiency and drive scale or visibility. Proptech is exciting, because it’s democratizing the industry, and forcing change in an industry that has been on the edge of transformation for some time.

Q)What do you feel are some of the biggest industry needs in the way of technology for CRE and Ressi

A) In my role, I work with a high proportion of the commercial and residential real estate agencies across the country, from start-ups to some of the largest players in the market, which is really interesting. Across the board, inefficiency in running these businesses remains high and that includes administrative and process-driven tasks that tie up many hours, across the board.

From business owners and key sales staff, to administrative and support staff, these types of tasks ultimately prevent people from doing what they’re really good at, from adding genuine value to their clients, and from delighting and delivering exceptional client experiences to their customers. The automation/digitisation of these tasks will allow us to think differently about how agencies operate and will allow them to deliver even more value to clients if done right.

Q) Why are you a supporter for Proptech here in Brisbane

A) I think it’s important for the industry to engage collaboratively on the Proptech agenda, sharing insights from their own experiences and helping to unlock the opportunity. With so many stakeholders involved in the property sector, there is a great opportunity for us all to help uncover the full potential of technology in the sector. There are opportunities for all.