May 5, 2025 • 19 mins
- Peter Schravemade, Managing Partner at REACH Australia and Vice President of Proptech Australia discusses how AI is influencing Australian real estate
- Ben Croudace, Creative Founder at The Model Shop talks about building models for real estate development display suites
- Sam McGregor, Principal at Windrose Property takes a look at the most recent Corelogic Hedonic Home Value Index, through a local lens
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Cam and Renee's Real Estate Show on Mix one oh
six point three be the Envy of Camera Live in
de Burg at Northborne Village by JW.
Speaker 2 (00:09):
Land now selling Well Renee. It's podcast a clock for
the real estate show. I'm Niger filled in for Cam
this week, just in case anyone's wondering what the hell's
going on?
Speaker 3 (00:18):
Yes, you did, and thank you so much. We chatted
about lots of fun stuff on the show. Here's week,
didn't we.
Speaker 2 (00:23):
Yeah, fascinating and fun stuff, including the role that Ai
is going to play in the future of real estate.
Speaker 3 (00:28):
Yes, and some of the things that we were told
you and I were just like, oh, okay, this is
where it's going.
Speaker 4 (00:32):
Okay, yeah, thanks, we haven't even thought of I know
for sure.
Speaker 3 (00:35):
And we had a really interesting chat about the core
logic report that comes out and dig down on some
of the camera figures and shows where we're sitting at
with house prices and that sort of thing.
Speaker 5 (00:44):
Spoilert we're beating Melbourne.
Speaker 3 (00:46):
Yate, Yes we are. And also a chat that I
feel like you were really intrigued by. Yeah, the model
guy real estate development display models. Cam saw an epic
one at an event recently, so we chatted to a
guy who makes them.
Speaker 4 (01:01):
That's his job, that's his job.
Speaker 2 (01:02):
How you get into That's the one question I wish
I'd asked him. I know, but what do you do
for living? I'm a doctor or an architecture cool but no, no,
I make models, scale models of display homes.
Speaker 6 (01:11):
I know.
Speaker 3 (01:11):
So that was very cool and all of that. And
Henks Moore, thanks for listening to our podcast.
Speaker 2 (01:16):
It's night stepping in for Cam Cameron Renee normally doing
the Big Show on a Saturday morning. Yeah, but I've
been allowed the keys to the broadcast just for a day.
Speaker 4 (01:26):
Yes, And we love having you here.
Speaker 2 (01:27):
It's so much fun hanging out here with you Renee
and talking to people about cool stuff that's happening around Canberra.
And in this case we're talking real estate thanks to JW.
Land be the envy of Canberra. Live in de Burg
at Northbourne Village by JW. Land selling now. And I
cannot explain to you how fascinated I am by the
chat that we're about to have.
Speaker 4 (01:47):
Yes.
Speaker 2 (01:48):
Peter Shrava Mayer joins as he's the managing partner at
Reach Australia and Vice president of prop Tech Australia and
you're here to talk to us Peter about AI yep,
artificial and teller and the role that it is already
slash beginning to play in the real estate business.
Speaker 7 (02:06):
Yep, for sure. Thanks for having me.
Speaker 2 (02:07):
Hope you guys are doing well, mate, it's a pleasure.
AI fascinates me beyond all measure. But if you would
ask me a week ago what sort of jobs are
under threat from AI or will be infiltrated by AI,
real estate would honestly be one of the last ones
I would have thought of.
Speaker 7 (02:23):
Really, yeah, how.
Speaker 2 (02:25):
Is AI getting its teeth into the real estate business?
Speaker 8 (02:30):
Well, to start off with, you know how you would
see a photo of a real estate agent when they
are eighteen and they're actually forty seven. Yeahs, a blanket
improved the headshots of.
Speaker 2 (02:45):
How we could do with that for our photos on
the bus. Maybe to get one of those.
Speaker 7 (02:50):
So you know it's true.
Speaker 8 (02:52):
You know when you walk in and you've seen a
photo of somebody and they say, I'm like that person.
But look that's only a small, small thing. I think
the largest area it's actually traded this copy. We're seeing
a lot of the listing descriptions written a lot of
the communication between consumers and real estate agents, property managers,
or the offices itself is actually vetted using artificial intelligence,
(03:14):
and that's that side of it is actually probably for
the better, But there are other ways that is kind
of coming in as well.
Speaker 2 (03:20):
So when you read those in depth descriptions of a property,
you know it's off set by a beautiful backyard and
blah blah dah, a.
Speaker 5 (03:28):
Lot of ho.
Speaker 2 (03:29):
Yes, that's now being written by the AI.
Speaker 7 (03:32):
Yeah, to a larger extent.
Speaker 8 (03:34):
In fact, there's actually artificial intelligence that disseminates images to
give a trustworthy score, to tell you whether what is
actually written matches up with the description of the images as.
Speaker 7 (03:46):
The AI sees it.
Speaker 3 (03:48):
Oh my goodness, this is so bizarre, And Peter, real
estate is a people's business. It's a lot about face
to face, over the phone interactions between real people. How
do you manage all that when it's so reliant on
that sort of personal interaction, real interaction?
Speaker 8 (04:09):
Yeah, I still think the personal interaction is the center
of the transaction. I don't think we're getting rid of
the human here, but a large portion of what we're
actually doing is tech enabling the transaction. So whilst he's
still dealing with a human and there's a human relationship
that's central to the transaction and hopefully trust built into
(04:32):
that transaction. The moving parts around it are all being
facilitated by a generative AI or technology in some ways.
Speaker 4 (04:40):
Shape m Okay, it's interesting.
Speaker 3 (04:42):
And is there any sort of big changes in the
real estate space relating to AI that are coming.
Speaker 8 (04:49):
Yeah, as far as show stoppers are concerned, more than
likely artificial intelligence or generative artificial intelligence will come into
the area of agents being able to make say a
thousand phone CA two leads in under five minutes using
a voice that sounds like as but is actually an
artificial intelligence.
Speaker 7 (05:07):
Version of them.
Speaker 8 (05:08):
And we'll see that not just in phone calls being made,
but probably video versions of that agent on a website
answering inquiries and things like that. And to an extent,
we've already got that. Anyone renting a property, the largest
part of property management, it's facilitated by artificial intelligence after hours.
If you have ever typed into a chat bot and
(05:31):
described the problem to that and then had that priaged
after hours, I can tell you property managers aren't paid
enough to work after hours, so that is that is
not a human answering that.
Speaker 4 (05:42):
Yeah, gotcha. And should people be scared or like afraid
of this?
Speaker 7 (05:47):
I don't think so.
Speaker 8 (05:48):
I mean I think I think there's one person that
should be afraid, and that's probably the person in the
real estate industry who is adverse to technology altogether.
Speaker 7 (05:59):
These are probably the people you know who have a.
Speaker 8 (06:02):
Filing cabinet in the back of the room and still
all the paperwork is put into that. You know, I'm
talking a longer term of adversity. But across the board,
I've seen agents who are of different age groups, like
even the older demographic grab onto generative AI because it's
actually an artificial intelligence that they can speak to and
(06:22):
ask questions of and if that curious, it will actually
get them up to skills. So I think the only
people that need to be worried in the industry are
people who are adverse to any kind of technological advancements themselves.
They're not going to be beaten by AI. They'll be
beaten by an AI enabled agent with the relationships still.
Speaker 2 (06:42):
Central, who's using it as the tool, not the replacement.
That's what that's the key I'm guessing exactly.
Speaker 7 (06:48):
Yeah, I thought I think I'll.
Speaker 2 (06:50):
Tell you as long as we can still see on
a Saturday morning or a Sunday morning. So I'm stressed
out bloke trying to pull a sign out of the
trunk and he is out of a four that says
open home and running across intersection to put it down.
Then I'm a happy man. That's still happening, isn't it, mate.
Speaker 7 (07:03):
Well until robots, that's still happening.
Speaker 2 (07:06):
Yeah, until then the drones arrive and start to live.
Speaker 8 (07:09):
Reose signs on into the ground, and I'll stay gay.
Speaker 2 (07:14):
Management partner at Registrator and Vice president of prop Tech Australia.
Thank you so much for your time this morning, mate,
that was a fun chat.
Speaker 7 (07:20):
Thank you, thank you for having me. The robots are.
Speaker 5 (07:23):
Coming, Renee.
Speaker 2 (07:24):
Renee is in situ as she always is, and I've
turned the wrong mic on again. I'm sorry.
Speaker 5 (07:30):
Hello.
Speaker 2 (07:30):
Normally Kristen sits there and then you're sitting there.
Speaker 4 (07:33):
I've throwned all out of whack for you.
Speaker 2 (07:34):
Sorry, night, I'm just pushing all the buttons at the moment. Now,
I cannot tell you I'm genuinely excited about this. I'm
fascinated by the chat. We're about to have. Ben Crowdis
joins us. He's the creative founder at the Model Shop,
the model shop dot com. That are you and what
are you talking about there? Night? So you know those
(07:55):
you go to a display home or a display sweet
or whatever sweet of some sort, and they're going to
build an apartment building yep, and they're selling it off plans.
But there's a little model, or in some case it's
quite a big model, yes, of the development, so you
can see it and understand what it's going to look
like it's all done.
Speaker 3 (08:11):
Yeah, And that's what prompted this chat today because Cam,
who does a real estate show normally, he was out
at an event recently for the new Line Display Center,
which is out near Yuani out there, and he saw
this epic display model. He texted me a photo of
it at the time. It's one of the biggest ones
I've ever seen. It's so extensive, and so we thought, well,
(08:31):
let's chat about the process in general of making these
display models. What goes into it, all the ins and
outs and that sort of thing. So Ben Crowdis joins us. Now, hey, Ben,
hey there, Renee. Now, look what are some examples of
models that you make?
Speaker 9 (08:48):
Well, we make all sorts of models. I guess real
estate models are our foundation, and that is mainly apartments
and land subdivisions. And just like what you were describing,
when someone wants to buy something off the plans, the
best way to know what they're buying is to see
(09:12):
a scale model of it. Otherwise they've got no reference
point and they can't understand the pro sheet.
Speaker 2 (09:19):
Yeah, our plan is one thing, but seeing it and
being able to almost reach out and touch it makes
it a whole, much, whole, much more digestible, I guess
you could say.
Speaker 9 (09:27):
Yeah, And when people walk into those sales display sweets,
the first thing they go to is the model because
you see the whole thing all at once, and you go, oh, right,
oh that's what we're looking at. Oh okay, I get
it now, you know that sort of thing.
Speaker 2 (09:43):
Yeah, because it looks cool, you know, you feel compelled
to look at it.
Speaker 5 (09:46):
Yeah.
Speaker 3 (09:47):
What's the process Ben of making one of these models.
I'm sure there's heaps of steps involved.
Speaker 9 (09:54):
Yeah, well, it is a long can be a long process.
And the model that you were talking about, which I
I had a look at the fronto of which is
a large development over acres which might.
Speaker 7 (10:06):
Be sort of three meters by three meters.
Speaker 9 (10:09):
That sort of model takes maybe twelve weeks to make,
and yeah, I guess there is.
Speaker 7 (10:20):
A lot of process in it.
Speaker 9 (10:21):
And we start with the drawings from the architects and
we then create another set of drawings from their drawings,
and those drawings that we create we feed into laser
cutters and thready printers, and there is a lot of
hand assembly as well. But I guess it's sort of
(10:46):
like building a real building, but much smaller. And so
you start with the foundations, the start with the drawings,
and then there's different trades, like there's the walls, little windows,
there's landscaping, and there's a lighting, so the lighting can
(11:10):
be quite complex. We've done models with iPad controlled lighting,
so you can click on the iPad and it lights
up apartment number two hundred and forty one, and the
sales agent can say, okay, well here's the floor plan
of this apartment, which is lit up on the model.
Speaker 2 (11:31):
Yeah, that's where it is, so you can see what
window you'll be looking out of. And oh yeah, just quickly, mate,
was we're running a tiny a little bit late, But
what is the most excruciatingly intricate details someone who's asked
you to put into a model.
Speaker 6 (11:47):
Okay, so yeah, we did a model which was based
around a racecourse and I think it was one to
five hundred scale, and they wanted to see race horses
on the racetrack.
Speaker 7 (12:00):
So these race sources.
Speaker 9 (12:02):
Were I think one point five millimeters tall.
Speaker 4 (12:06):
Oh wows.
Speaker 5 (12:11):
Yeah.
Speaker 9 (12:14):
There's an interesting website called in the Eye of the
Needle and a guy mates models that actually sit inside
the eye of a needle in terms of detail.
Speaker 7 (12:24):
I mean he.
Speaker 9 (12:25):
Uses like a microscope to make We're not quite that intricate,
but these race hources, they they.
Speaker 5 (12:34):
Were a challenge.
Speaker 4 (12:36):
Yeah, I bet one point five millimeters wow. We all right? Well,
goodness me. We could talk about this or day night.
Speaker 2 (12:41):
I feel absolutely if we had more time, I'd be
asking about how, you know, would you just make a
model of my house as a gift? He could someone
a civilian like me just get in touch with your
and say, look, my mates just brought a new house.
Can you make a model of it for him as
a present as a housewarming present? Would you deal with
one on one people like that or is it just
big commercial?
Speaker 10 (13:00):
Yeah?
Speaker 9 (13:01):
Well, we actually get quite a few, and a lot
of them are corporate gifts, like someone's leaving the company
and so we make a model of their factory or and.
Speaker 4 (13:13):
It's like yeah, yeah, yeah, and we do.
Speaker 7 (13:18):
I mean yeah.
Speaker 9 (13:19):
It sometimes gets cost prohibitive because there there is a
lot of.
Speaker 5 (13:24):
Work in house.
Speaker 9 (13:27):
So but that we certainly do that sort of thing
and we've made everything from it. We made a pablover
for the w A Museum, which involved eating a lot
of pablover to actually make the model.
Speaker 4 (13:43):
All right, if that's a description, then you've got to
do it.
Speaker 5 (13:46):
If you got to build it, you need to eat
it first. That's I've always said that absolutely.
Speaker 2 (13:50):
The modelshop dot com dot au is is that?
Speaker 5 (13:54):
What is that the website?
Speaker 2 (13:55):
Yea, it is if you want to find out more.
I cannot thank you enough Ben for your time this morning.
That was a fun chat. And keep up the great
work mate.
Speaker 9 (14:04):
Yeah, thank you, good to chat.
Speaker 5 (14:06):
Thank you.
Speaker 4 (14:07):
That's Ben Crowdis from the model shop there, who's a
creative founder.
Speaker 2 (14:10):
If anyone's wondering what I want as a farewell gift
when I leave the radio station, eventually, yes, scale model
of this place nice, we'd never forget it. Thanks for
putting it with me today so far coming on this
is it's a fascinating gig. We get to talk about
all kinds of cool stuff we do. And at this juncture,
I guess it's kind of like school report day, isn't it.
Speaker 4 (14:29):
Yeah, for a little bit.
Speaker 9 (14:30):
Yeah. Yeah.
Speaker 3 (14:31):
So each month or so, the core Logic Home Value
Index report comes out and we speak to Sam McGregor,
who's the principal wind Rows Property, who digs down on
all the local stats for us and tells us what
the stats show for us here in Canberra.
Speaker 4 (14:45):
Sam, good morning, good morning night.
Speaker 5 (14:47):
How are you?
Speaker 4 (14:47):
Yes, good, thank you?
Speaker 3 (14:49):
Now can you give us sort of an overview of
what this latest one shows for Canberra?
Speaker 10 (14:54):
Always and absolutely love to so interesting numbers coming out
of co Logic.
Speaker 5 (14:58):
Over the last month, we saw a zero point four
percent price growth across.
Speaker 10 (15:03):
The board with the median value in Canberra, I think
there's a touch under eight hundred and forty five thousand,
so definitely growth over the last month. And you know,
I look at that and think annualized, that's about a
five percent or we're on track if that was over
the year five percent growth, which is pretty significant.
Speaker 8 (15:22):
Yeah.
Speaker 3 (15:23):
Absolutely, And of course, we've got the federal election today
and there's been talk of another interest rate can't happening
this month as well. What do you think is going
to happen with all of that in the coming weeks.
Speaker 10 (15:35):
Look, I think it's really interesting and it's a good
point because when I was looking over the data this month,
that's really the thing that stands out to me right
Like I'm reading the d Lea's backwards and forwards here.
But April was a slow month on the ground because
we had obviously Easter Ajac Day and then the election
this weekend, so there hasn't been a heaps of people around.
Speaker 5 (15:56):
But to see price price growth like.
Speaker 10 (15:58):
That over the last month is pretty significant as we
look towards the election.
Speaker 5 (16:03):
I think it's pretty simple. Both of the.
Speaker 10 (16:06):
I suppose both Labor and Liberal Party have policies really
focused on managing what is a housing supply issue, and
I think that a lot of this price growth is
coming from the fact that people have realized if we're
going to get a couple of interest rate cuts through
this year, and both of the major parties are talking
about the problems in the housing market, there's going to
be a supply issue there's going to be a lot
(16:28):
more money around, so it's probably as good as it
was going to get maybe two or three months ago,
and it's only going to go up between now and
the end of the year.
Speaker 2 (16:36):
This might seem like a ridiculous question, but I mean
it's sincerely When I see the median house price in
the Act is the third highest in the country and
significantly higher than Melbourne Melbourn at the moment, sitting at
seven hundred and eighty six thousand on is that a
good thing? As a camper resident? Do I get excited
about that and go, yeah, our houses costs more than Melbourne?
Or is that a bad thing?
Speaker 10 (16:57):
Yeah, that's an interesting one, I think.
Speaker 5 (17:00):
I don't think it's good or bad.
Speaker 10 (17:02):
I think the interesting one about Melbourne is that that
market's actually come back significantly.
Speaker 5 (17:06):
Over the last two months. A lot of investors have.
Speaker 10 (17:08):
Left the Melbourne market and that has put downward pressure
on prices. I think if you're going to say is
it good or bad, it's probably good in the sense
that it's an indicator that the act economy is strong
and that there's a lot of confidence that there's good
jobs here and that there's like a reliable, steady place
to live and earn money. So whilst it's probably not
(17:28):
ideal for those that are looking to get into houses
as a you know, like first step into the market,
it is a harder market to buy into because the
prices are higher, it's indicative it's a great place to be.
Speaker 4 (17:38):
Yes, yes, I see what you're saying.
Speaker 5 (17:40):
Look at it isn't it? Yeah?
Speaker 4 (17:41):
One hundred percent? All right, Sam?
Speaker 3 (17:43):
And just quickly, what's the main sort of chatter among
you know, real estate agents at the moment in the
past few weeks.
Speaker 5 (17:50):
That's a really good question.
Speaker 10 (17:52):
I'm seeing a lot of conversations about land at the moment,
and that's not something that I would have said to you.
Speaker 5 (17:57):
For the last twelve or eighteen months. A lot of
people out there are.
Speaker 10 (18:01):
Saying, I a lot of agents that I'm speaking to,
a lot of buyers that I'm meeting on the street
are saying, Hey, can I talk to you about that
block of land that you've got for sale?
Speaker 5 (18:08):
And so that's probably testament to the fact that maybe people.
Speaker 10 (18:11):
Are seeing the vays of established houses a little high,
or more importantly, buyers out there are also considering that
it might be a great time to build a house,
and that's just a conversation we probably haven't had since COVID.
Right when it was COVID, times established houses flew through
the roof and everyone wanted to build the it's flipped
and now I think we sort of back where actually
(18:31):
it's kind of tangible, which means that agents are seeing
a definite shift in the market and that's that there
is just a lot more confidence around.
Speaker 3 (18:39):
Okay, all right, We'll always love getting the local perspective
from you. With that, and we'll chat to you again
in a few weeks time. But to Sam, have an
awesome weekend.
Speaker 5 (18:46):
Thanks so much, Thanks so much to night. Shall we
go we AGAINDS you too, mate, Thanks you.
Speaker 4 (18:49):
That's Sam McGregor from Windrows Property there.
Speaker 11 (18:53):
Well, those are the interviews we most enjoyed in last
week's Mixed one O six point three real Estate Show.
If you love hearing about the latest trends, or you're
just up for a sticky beak, be sure to drop
by for a listen this Saturday between nine and ten
GM and
Speaker 1 (19:06):
Rene's Real Estate Show on Mix one O six point
three
Cam and Renee's Real Estate Show on Mix one oh
six point three be the Envy of Camera Live in
de Burg at Northborne Village by JW.
Speaker 2 (00:09):
Land now selling Well Renee. It's podcast a clock for
the real estate show. I'm Niger filled in for Cam
this week, just in case anyone's wondering what the hell's
going on?
Speaker 3 (00:18):
Yes, you did, and thank you so much. We chatted
about lots of fun stuff on the show. Here's week,
didn't we.
Speaker 2 (00:23):
Yeah, fascinating and fun stuff, including the role that Ai
is going to play in the future of real estate.
Speaker 3 (00:28):
Yes, and some of the things that we were told
you and I were just like, oh, okay, this is
where it's going.
Speaker 4 (00:32):
Okay, yeah, thanks, we haven't even thought of I know
for sure.
Speaker 3 (00:35):
And we had a really interesting chat about the core
logic report that comes out and dig down on some
of the camera figures and shows where we're sitting at
with house prices and that sort of thing.
Speaker 5 (00:44):
Spoilert we're beating Melbourne.
Speaker 3 (00:46):
Yate, Yes we are. And also a chat that I
feel like you were really intrigued by. Yeah, the model
guy real estate development display models. Cam saw an epic
one at an event recently, so we chatted to a
guy who makes them.
Speaker 4 (01:01):
That's his job, that's his job.
Speaker 2 (01:02):
How you get into That's the one question I wish
I'd asked him. I know, but what do you do
for living? I'm a doctor or an architecture cool but no, no,
I make models, scale models of display homes.
Speaker 6 (01:11):
I know.
Speaker 3 (01:11):
So that was very cool and all of that. And
Henks Moore, thanks for listening to our podcast.
Speaker 2 (01:16):
It's night stepping in for Cam Cameron Renee normally doing
the Big Show on a Saturday morning. Yeah, but I've
been allowed the keys to the broadcast just for a day.
Speaker 4 (01:26):
Yes, And we love having you here.
Speaker 2 (01:27):
It's so much fun hanging out here with you Renee
and talking to people about cool stuff that's happening around Canberra.
And in this case we're talking real estate thanks to JW.
Land be the envy of Canberra. Live in de Burg
at Northbourne Village by JW. Land selling now. And I
cannot explain to you how fascinated I am by the
chat that we're about to have.
Speaker 4 (01:47):
Yes.
Speaker 2 (01:48):
Peter Shrava Mayer joins as he's the managing partner at
Reach Australia and Vice president of prop Tech Australia and
you're here to talk to us Peter about AI yep,
artificial and teller and the role that it is already
slash beginning to play in the real estate business.
Speaker 7 (02:06):
Yep, for sure. Thanks for having me.
Speaker 2 (02:07):
Hope you guys are doing well, mate, it's a pleasure.
AI fascinates me beyond all measure. But if you would
ask me a week ago what sort of jobs are
under threat from AI or will be infiltrated by AI,
real estate would honestly be one of the last ones
I would have thought of.
Speaker 7 (02:23):
Really, yeah, how.
Speaker 2 (02:25):
Is AI getting its teeth into the real estate business?
Speaker 8 (02:30):
Well, to start off with, you know how you would
see a photo of a real estate agent when they
are eighteen and they're actually forty seven. Yeahs, a blanket
improved the headshots of.
Speaker 2 (02:45):
How we could do with that for our photos on
the bus. Maybe to get one of those.
Speaker 7 (02:50):
So you know it's true.
Speaker 8 (02:52):
You know when you walk in and you've seen a
photo of somebody and they say, I'm like that person.
But look that's only a small, small thing. I think
the largest area it's actually traded this copy. We're seeing
a lot of the listing descriptions written a lot of
the communication between consumers and real estate agents, property managers,
or the offices itself is actually vetted using artificial intelligence,
(03:14):
and that's that side of it is actually probably for
the better, But there are other ways that is kind
of coming in as well.
Speaker 2 (03:20):
So when you read those in depth descriptions of a property,
you know it's off set by a beautiful backyard and
blah blah dah, a.
Speaker 5 (03:28):
Lot of ho.
Speaker 2 (03:29):
Yes, that's now being written by the AI.
Speaker 7 (03:32):
Yeah, to a larger extent.
Speaker 8 (03:34):
In fact, there's actually artificial intelligence that disseminates images to
give a trustworthy score, to tell you whether what is
actually written matches up with the description of the images as.
Speaker 7 (03:46):
The AI sees it.
Speaker 3 (03:48):
Oh my goodness, this is so bizarre, And Peter, real
estate is a people's business. It's a lot about face
to face, over the phone interactions between real people. How
do you manage all that when it's so reliant on
that sort of personal interaction, real interaction?
Speaker 8 (04:09):
Yeah, I still think the personal interaction is the center
of the transaction. I don't think we're getting rid of
the human here, but a large portion of what we're
actually doing is tech enabling the transaction. So whilst he's
still dealing with a human and there's a human relationship
that's central to the transaction and hopefully trust built into
(04:32):
that transaction. The moving parts around it are all being
facilitated by a generative AI or technology in some ways.
Speaker 4 (04:40):
Shape m Okay, it's interesting.
Speaker 3 (04:42):
And is there any sort of big changes in the
real estate space relating to AI that are coming.
Speaker 8 (04:49):
Yeah, as far as show stoppers are concerned, more than
likely artificial intelligence or generative artificial intelligence will come into
the area of agents being able to make say a
thousand phone CA two leads in under five minutes using
a voice that sounds like as but is actually an
artificial intelligence.
Speaker 7 (05:07):
Version of them.
Speaker 8 (05:08):
And we'll see that not just in phone calls being made,
but probably video versions of that agent on a website
answering inquiries and things like that. And to an extent,
we've already got that. Anyone renting a property, the largest
part of property management, it's facilitated by artificial intelligence after hours.
If you have ever typed into a chat bot and
(05:31):
described the problem to that and then had that priaged
after hours, I can tell you property managers aren't paid
enough to work after hours, so that is that is
not a human answering that.
Speaker 4 (05:42):
Yeah, gotcha. And should people be scared or like afraid
of this?
Speaker 7 (05:47):
I don't think so.
Speaker 8 (05:48):
I mean I think I think there's one person that
should be afraid, and that's probably the person in the
real estate industry who is adverse to technology altogether.
Speaker 7 (05:59):
These are probably the people you know who have a.
Speaker 8 (06:02):
Filing cabinet in the back of the room and still
all the paperwork is put into that. You know, I'm
talking a longer term of adversity. But across the board,
I've seen agents who are of different age groups, like
even the older demographic grab onto generative AI because it's
actually an artificial intelligence that they can speak to and
(06:22):
ask questions of and if that curious, it will actually
get them up to skills. So I think the only
people that need to be worried in the industry are
people who are adverse to any kind of technological advancements themselves.
They're not going to be beaten by AI. They'll be
beaten by an AI enabled agent with the relationships still.
Speaker 2 (06:42):
Central, who's using it as the tool, not the replacement.
That's what that's the key I'm guessing exactly.
Speaker 7 (06:48):
Yeah, I thought I think I'll.
Speaker 2 (06:50):
Tell you as long as we can still see on
a Saturday morning or a Sunday morning. So I'm stressed
out bloke trying to pull a sign out of the
trunk and he is out of a four that says
open home and running across intersection to put it down.
Then I'm a happy man. That's still happening, isn't it, mate.
Speaker 7 (07:03):
Well until robots, that's still happening.
Speaker 2 (07:06):
Yeah, until then the drones arrive and start to live.
Speaker 8 (07:09):
Reose signs on into the ground, and I'll stay gay.
Speaker 2 (07:14):
Management partner at Registrator and Vice president of prop Tech Australia.
Thank you so much for your time this morning, mate,
that was a fun chat.
Speaker 7 (07:20):
Thank you, thank you for having me. The robots are.
Speaker 5 (07:23):
Coming, Renee.
Speaker 2 (07:24):
Renee is in situ as she always is, and I've
turned the wrong mic on again. I'm sorry.
Speaker 5 (07:30):
Hello.
Speaker 2 (07:30):
Normally Kristen sits there and then you're sitting there.
Speaker 4 (07:33):
I've throwned all out of whack for you.
Speaker 2 (07:34):
Sorry, night, I'm just pushing all the buttons at the moment. Now,
I cannot tell you I'm genuinely excited about this. I'm
fascinated by the chat. We're about to have. Ben Crowdis
joins us. He's the creative founder at the Model Shop,
the model shop dot com. That are you and what
are you talking about there? Night? So you know those
(07:55):
you go to a display home or a display sweet
or whatever sweet of some sort, and they're going to
build an apartment building yep, and they're selling it off plans.
But there's a little model, or in some case it's
quite a big model, yes, of the development, so you
can see it and understand what it's going to look
like it's all done.
Speaker 3 (08:11):
Yeah, And that's what prompted this chat today because Cam,
who does a real estate show normally, he was out
at an event recently for the new Line Display Center,
which is out near Yuani out there, and he saw
this epic display model. He texted me a photo of
it at the time. It's one of the biggest ones
I've ever seen. It's so extensive, and so we thought, well,
(08:31):
let's chat about the process in general of making these
display models. What goes into it, all the ins and
outs and that sort of thing. So Ben Crowdis joins us. Now, hey, Ben,
hey there, Renee. Now, look what are some examples of
models that you make?
Speaker 9 (08:48):
Well, we make all sorts of models. I guess real
estate models are our foundation, and that is mainly apartments
and land subdivisions. And just like what you were describing,
when someone wants to buy something off the plans, the
best way to know what they're buying is to see
(09:12):
a scale model of it. Otherwise they've got no reference
point and they can't understand the pro sheet.
Speaker 2 (09:19):
Yeah, our plan is one thing, but seeing it and
being able to almost reach out and touch it makes
it a whole, much, whole, much more digestible, I guess
you could say.
Speaker 9 (09:27):
Yeah, And when people walk into those sales display sweets,
the first thing they go to is the model because
you see the whole thing all at once, and you go, oh, right,
oh that's what we're looking at. Oh okay, I get
it now, you know that sort of thing.
Speaker 2 (09:43):
Yeah, because it looks cool, you know, you feel compelled
to look at it.
Speaker 5 (09:46):
Yeah.
Speaker 3 (09:47):
What's the process Ben of making one of these models.
I'm sure there's heaps of steps involved.
Speaker 9 (09:54):
Yeah, well, it is a long can be a long process.
And the model that you were talking about, which I
I had a look at the fronto of which is
a large development over acres which might.
Speaker 7 (10:06):
Be sort of three meters by three meters.
Speaker 9 (10:09):
That sort of model takes maybe twelve weeks to make,
and yeah, I guess there is.
Speaker 7 (10:20):
A lot of process in it.
Speaker 9 (10:21):
And we start with the drawings from the architects and
we then create another set of drawings from their drawings,
and those drawings that we create we feed into laser
cutters and thready printers, and there is a lot of
hand assembly as well. But I guess it's sort of
(10:46):
like building a real building, but much smaller. And so
you start with the foundations, the start with the drawings,
and then there's different trades, like there's the walls, little windows,
there's landscaping, and there's a lighting, so the lighting can
(11:10):
be quite complex. We've done models with iPad controlled lighting,
so you can click on the iPad and it lights
up apartment number two hundred and forty one, and the
sales agent can say, okay, well here's the floor plan
of this apartment, which is lit up on the model.
Speaker 2 (11:31):
Yeah, that's where it is, so you can see what
window you'll be looking out of. And oh yeah, just quickly, mate,
was we're running a tiny a little bit late, But
what is the most excruciatingly intricate details someone who's asked
you to put into a model.
Speaker 6 (11:47):
Okay, so yeah, we did a model which was based
around a racecourse and I think it was one to
five hundred scale, and they wanted to see race horses
on the racetrack.
Speaker 7 (12:00):
So these race sources.
Speaker 9 (12:02):
Were I think one point five millimeters tall.
Speaker 4 (12:06):
Oh wows.
Speaker 5 (12:11):
Yeah.
Speaker 9 (12:14):
There's an interesting website called in the Eye of the
Needle and a guy mates models that actually sit inside
the eye of a needle in terms of detail.
Speaker 7 (12:24):
I mean he.
Speaker 9 (12:25):
Uses like a microscope to make We're not quite that intricate,
but these race hources, they they.
Speaker 5 (12:34):
Were a challenge.
Speaker 4 (12:36):
Yeah, I bet one point five millimeters wow. We all right? Well,
goodness me. We could talk about this or day night.
Speaker 2 (12:41):
I feel absolutely if we had more time, I'd be
asking about how, you know, would you just make a
model of my house as a gift? He could someone
a civilian like me just get in touch with your
and say, look, my mates just brought a new house.
Can you make a model of it for him as
a present as a housewarming present? Would you deal with
one on one people like that or is it just
big commercial?
Speaker 10 (13:00):
Yeah?
Speaker 9 (13:01):
Well, we actually get quite a few, and a lot
of them are corporate gifts, like someone's leaving the company
and so we make a model of their factory or and.
Speaker 4 (13:13):
It's like yeah, yeah, yeah, and we do.
Speaker 7 (13:18):
I mean yeah.
Speaker 9 (13:19):
It sometimes gets cost prohibitive because there there is a
lot of.
Speaker 5 (13:24):
Work in house.
Speaker 9 (13:27):
So but that we certainly do that sort of thing
and we've made everything from it. We made a pablover
for the w A Museum, which involved eating a lot
of pablover to actually make the model.
Speaker 4 (13:43):
All right, if that's a description, then you've got to
do it.
Speaker 5 (13:46):
If you got to build it, you need to eat
it first. That's I've always said that absolutely.
Speaker 2 (13:50):
The modelshop dot com dot au is is that?
Speaker 5 (13:54):
What is that the website?
Speaker 2 (13:55):
Yea, it is if you want to find out more.
I cannot thank you enough Ben for your time this morning.
That was a fun chat. And keep up the great
work mate.
Speaker 9 (14:04):
Yeah, thank you, good to chat.
Speaker 5 (14:06):
Thank you.
Speaker 4 (14:07):
That's Ben Crowdis from the model shop there, who's a
creative founder.
Speaker 2 (14:10):
If anyone's wondering what I want as a farewell gift
when I leave the radio station, eventually, yes, scale model
of this place nice, we'd never forget it. Thanks for
putting it with me today so far coming on this
is it's a fascinating gig. We get to talk about
all kinds of cool stuff we do. And at this juncture,
I guess it's kind of like school report day, isn't it.
Speaker 4 (14:29):
Yeah, for a little bit.
Speaker 9 (14:30):
Yeah. Yeah.
Speaker 3 (14:31):
So each month or so, the core Logic Home Value
Index report comes out and we speak to Sam McGregor,
who's the principal wind Rows Property, who digs down on
all the local stats for us and tells us what
the stats show for us here in Canberra.
Speaker 4 (14:45):
Sam, good morning, good morning night.
Speaker 5 (14:47):
How are you?
Speaker 4 (14:47):
Yes, good, thank you?
Speaker 3 (14:49):
Now can you give us sort of an overview of
what this latest one shows for Canberra?
Speaker 10 (14:54):
Always and absolutely love to so interesting numbers coming out
of co Logic.
Speaker 5 (14:58):
Over the last month, we saw a zero point four
percent price growth across.
Speaker 10 (15:03):
The board with the median value in Canberra, I think
there's a touch under eight hundred and forty five thousand,
so definitely growth over the last month. And you know,
I look at that and think annualized, that's about a
five percent or we're on track if that was over
the year five percent growth, which is pretty significant.
Speaker 8 (15:22):
Yeah.
Speaker 3 (15:23):
Absolutely, And of course, we've got the federal election today
and there's been talk of another interest rate can't happening
this month as well. What do you think is going
to happen with all of that in the coming weeks.
Speaker 10 (15:35):
Look, I think it's really interesting and it's a good
point because when I was looking over the data this month,
that's really the thing that stands out to me right
Like I'm reading the d Lea's backwards and forwards here.
But April was a slow month on the ground because
we had obviously Easter Ajac Day and then the election
this weekend, so there hasn't been a heaps of people around.
Speaker 5 (15:56):
But to see price price growth like.
Speaker 10 (15:58):
That over the last month is pretty significant as we
look towards the election.
Speaker 5 (16:03):
I think it's pretty simple. Both of the.
Speaker 10 (16:06):
I suppose both Labor and Liberal Party have policies really
focused on managing what is a housing supply issue, and
I think that a lot of this price growth is
coming from the fact that people have realized if we're
going to get a couple of interest rate cuts through
this year, and both of the major parties are talking
about the problems in the housing market, there's going to
be a supply issue there's going to be a lot
(16:28):
more money around, so it's probably as good as it
was going to get maybe two or three months ago,
and it's only going to go up between now and
the end of the year.
Speaker 2 (16:36):
This might seem like a ridiculous question, but I mean
it's sincerely When I see the median house price in
the Act is the third highest in the country and
significantly higher than Melbourne Melbourn at the moment, sitting at
seven hundred and eighty six thousand on is that a
good thing? As a camper resident? Do I get excited
about that and go, yeah, our houses costs more than Melbourne?
Or is that a bad thing?
Speaker 10 (16:57):
Yeah, that's an interesting one, I think.
Speaker 5 (17:00):
I don't think it's good or bad.
Speaker 10 (17:02):
I think the interesting one about Melbourne is that that
market's actually come back significantly.
Speaker 5 (17:06):
Over the last two months. A lot of investors have.
Speaker 10 (17:08):
Left the Melbourne market and that has put downward pressure
on prices. I think if you're going to say is
it good or bad, it's probably good in the sense
that it's an indicator that the act economy is strong
and that there's a lot of confidence that there's good
jobs here and that there's like a reliable, steady place
to live and earn money. So whilst it's probably not
(17:28):
ideal for those that are looking to get into houses
as a you know, like first step into the market,
it is a harder market to buy into because the
prices are higher, it's indicative it's a great place to be.
Speaker 4 (17:38):
Yes, yes, I see what you're saying.
Speaker 5 (17:40):
Look at it isn't it? Yeah?
Speaker 4 (17:41):
One hundred percent? All right, Sam?
Speaker 3 (17:43):
And just quickly, what's the main sort of chatter among
you know, real estate agents at the moment in the
past few weeks.
Speaker 5 (17:50):
That's a really good question.
Speaker 10 (17:52):
I'm seeing a lot of conversations about land at the moment,
and that's not something that I would have said to you.
Speaker 5 (17:57):
For the last twelve or eighteen months. A lot of
people out there are.
Speaker 10 (18:01):
Saying, I a lot of agents that I'm speaking to,
a lot of buyers that I'm meeting on the street
are saying, Hey, can I talk to you about that
block of land that you've got for sale?
Speaker 5 (18:08):
And so that's probably testament to the fact that maybe people.
Speaker 10 (18:11):
Are seeing the vays of established houses a little high,
or more importantly, buyers out there are also considering that
it might be a great time to build a house,
and that's just a conversation we probably haven't had since COVID.
Right when it was COVID, times established houses flew through
the roof and everyone wanted to build the it's flipped
and now I think we sort of back where actually
(18:31):
it's kind of tangible, which means that agents are seeing
a definite shift in the market and that's that there
is just a lot more confidence around.
Speaker 3 (18:39):
Okay, all right, We'll always love getting the local perspective
from you. With that, and we'll chat to you again
in a few weeks time. But to Sam, have an
awesome weekend.
Speaker 5 (18:46):
Thanks so much, Thanks so much to night. Shall we
go we AGAINDS you too, mate, Thanks you.
Speaker 4 (18:49):
That's Sam McGregor from Windrows Property there.
Speaker 11 (18:53):
Well, those are the interviews we most enjoyed in last
week's Mixed one O six point three real Estate Show.
If you love hearing about the latest trends, or you're
just up for a sticky beak, be sure to drop
by for a listen this Saturday between nine and ten
GM and
Speaker 1 (19:06):
Rene's Real Estate Show on Mix one O six point
three
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