Industry Focus

4 Industry Focus REAL ESTATE SERVICES Belle Property Belle Property is a real estate franchise success story. The Australian company has expanded from five to 50 agencies in less than six years because of a strong franchising support system and an emphasis on training, says CEO Peter Hanscomb. "We look for agents who have a proven track record in residential sales because we want to create a model based on leadership," he says. "We help our franchisees develop the right plans and strategies to become productive very quickly. Essentially, we provide them with a lot of support, especially in the start-up process." The first Belle Property agency opened in 1990 and today there are 50 agencies across NSW, Queensland and SA. "The centrepiece of our growth is how we develop people, closely followed by excellent customer service," Hanscomb says. Westpac's economic update Australian property prices are expected to rise by up to 6 per cent in 2014 because of continued low interest rates, according to Frank Allen, Westpac's Director of Property Markets. He says the forecast growth comes on the back of price rises of 10 per cent nationally during 2013, driven largely by Sydney, where the median dwelling price jumped 15 per cent to $655,250. "Low interest rates should keep investors active in the first half of 2014," Allen says. "Westpac's official interest rate view is for no change over 2014, which should help maintain investor confidence." Allen adds that the outlook for commercial property investment will continue to be positive, forecasting an average annual return of 10 per cent this year. Real estate tech Ninety per cent of homebuyers use the internet to search for a property and more than 50 per cent initiate their search online, according to Properties Online Inc. While these figures relate to buyers in the US, Michael Fredericks, CEO of OnTheHouse.com.au, says the trend is similar in Australia. Fredericks' company provides reports that combine historical property data with 'guesstimate' values on properties currently for sale. He says the way people search to buy or rent a home has shifted from print to online. "We recognise people are making property decisions all the time and we sought to give greater transparency to that process so they can make better-informed property decisions," he says. "In the US they use a system called 'multi-listing services' where agents share data with one another. We're trying to create a similar platform here."

• Cover