Real Estate Investor Magazine South Africa Real Estate Investor Magazine March 2018 | Page 9

EDITORIAL VIEW
Embracing
change in
the world of
real estate
C
hange is an inevitable part of life.
It will happen whether we are
ready for it or not.
Business and real estate are changing
rapidly and we will need to adapt and
implement frequent and widespread
change to our businesses and the tech-
nology to support it to take themselves
successfully into the future.
The use and adoption of technology is
changing the real estate industry in a big
way. If you do not own the right type
of real estate, there is a very real danger
that technology has done to your in-
vestment what Amazon has done to the
book industry, AirBnb to the hospitality
industry and how Uber has transformed
taxi services.
Boundaries are being redefined, ‘disrup-
tors’ are moving in and real estate is one
of the last industries that are changing.
This is according to Adrian Grove of
Entregal.
BILL GATES
“
The advance of technology
is based on making it fit
in so that you don’t really
even notice it, so it’s part of
everyday life.
Pierre Nanteme CEO of Accenture
quoted recently that, “Digital disruption
is the main reason just over half of For-
tune 500 companies have disappeared
since 2000.” It has begun in a big way.
Fast-forward to today and technology is
impacting almost every area of our lives.
The way we shop, travel, communicate
and source information is being under-
taken from handheld devices and app
technology. The consequences of this
change are driving changing behaviour,
how we interact with people, and also
impacts our investment returns.
Investors and sellers have become far
savvier with access to knowledge and
education on a broad scale. Gone are the
days when you phone an agent. Now, the
first step is to trawl for properties on-
line and then select the ones you want
to view. Traditional agent models are
falling away and overseas brands such
as Zillow, Knock, Redfin and Purple
Bricks have transformed how people
look for real estate. Locally, we have seen
companies like Property Fox, Lead-
home, HouseMe and Wealth Migrate
change the investment landscape.
Even at Real Estate Investor we are
changing the way we do things with a
new digital approach to all of our com-
munication. Along with our magazine,
we are working to make our website part
of our core communication with you,
our readers.
South Africa’s investment environment
is also changing for the better. Zuma is
out; Ramaphosa is new president and
more optimism reigns while he fixes the
destruction left by his predecessor. The
outlook for 2018 for South Africa and
investment into real estate particularly
looks positive but ‘tougherer’ (thanks
to a well-known car commercial). The
budget has been announced and VAT of
15% kicks in. 2018 is the year of reju-
venation.
There is definite pent-up demand for
real estate as we deal with the shortage
in housing and accommodation. With
so many positives, we look ahead with
confidence and optimism to the future
of real estate.
Successful investing
NEALE PETERSEN
FOUNDER/PUBLISHER
SA Real Estate Investor Magazine MARCH 2018
7
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