LJ Hooker Invests $100 Million In Real Estate’s Digital Future

LJ Hooker has invested $100 million towards the newly unveiled LJX-Lab in an attempt to accelerate the industry’s digital transformation.

Thanks to the multi-million investment, LJX-Lab is a digital research and development vehicle which will foster innovation through identifying, incubating and commercialising home-grown ‘proptech’. It will also introduce new global best practices and technology to local markets to enrich new products, services and training.

LJX-Lab’s first development is an online real-estate training tool called Real Edge, which is designed to “enhance the education of real estate as a profession and career, empower real-estate specialists to reach their full potential and set a new internationally-recognised standard in customer service and satisfaction in the domestic market”.

Company Chairman L Janusz Hooker said Real Edge is a first for an Australian real estate network and currently in beta with LJ Hooker’s 8,000 real estate professionals.

“It’s the first of many innovations LJX-Lab will release leading up to 2020 to continue LJ Hooker’s rich pioneering heritage,” he said.

To provide global insights into products and services being created in LJX-Lab, Mr Hooker has assembled a dynamic advisory board of business leaders, including:

  • Freelancer.com CEO, Matt Barrie (Sydney);
  • MD CSIRO Innovation Fund and & Founder of Black Bird Ventures, Bill Bartee (Sydney);
  • Co-Founder and Principal of RFR Holding, Michael Fuchs (New York);
  • Director of Zoopla.com and former CEO of Countrywide Real Estate Group, Grenville Turner (London).

“The digital revolution is enabling us to merge the property knowledge accumulated over our 88-year history and the expertise of our current 8,000 real estate professionals across 600 offices with the latest technology to better serve our customers,” Mr Hooker said.

“No single real estate network has set a digital path that equally empowers its people, its customers and its industry professionals.”

LJ Hooker’s Network Chief, Graeme Hyde, said Real Edge’s ‘digital learning and coaching platform’ had been tailor-made for real estate professionals.

“If you’re in real estate, part of your DNA should be the desire to learn something new every-day and consistently develop your knowledge and skills to the highest levels, our modules are designed to provide that,” he said.

Real Edge provides 24-hour online access to videos, practical role-play scenarios and up to date legislative content to strengthen knowledge and daily activities. It caters to the specific career experience and functionality of real estate specialists with a full career pathway of learning. It’s functionality relies on segmented teaching modules based on an individual’s development needs including customer feedback, and users will have their own personalised access to programs based on their current performance and experience level.

“We understand the need to ensure our industry is continuously upskilled with the best legislative, compliance and soft skills training, so that in turn they will optimise the experience for their customers,” Mr Hyde said.

“Having knowledge at your fingertips when you need it and flexibility for learning has become extremely important for our industry in this digital age.

“Progressive career learning is activated by modules completed and professional improvement. It makes sales agents and property managers accountable to themselves, their peers and their employer to ensure continued growth.”

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