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DISRUPTION is the new norm, according to Opteon Property Group director Chris Knight, and innovation, needs to be on the forefront of all business’s minds stepping into the future.
“Innovation needs to be in the DNA of all businesses and we must empower our people to think laterally and act on those thoughts,” Knight told Australian Property Journal following his presentation to the Australian Property Institute’s National Property Conference on the Gold Coast.
“The challenge I put out to the audience today was, if disruption is the new norm, what or who is going to disrupt you, and how can you counteract that?”
“Property companies need to get big. Today’s increasingly challenging business environment means that it’s going to the norm for companies to undertake mergers, acquisitions and generally expand.
“This has already been landscape that we’re familiar with, particularly in valuation and other allied property services sectors,” he said.
Another key for companies, Knight said, was to get broad.
“Cross-skilling is a really important way for you as a property professional to maintain relevance and great value into this next stage of the business cycle.
“Don’t be afraid of disruption – embrace it. It’s here; it’s not going anywhere.” Knight said.
Read and watch more special coverage of the Australian Property Institute’s 2016 National Conference:
- Focus on fundamentals not financial wizardry
- Future of real estate offers challenges and opportunities
- Residential oversupplied but no property bubble
- Recent changes to API a positive move
- Valuation industry encouraged to cap downside risk
- Disruption in property industry here to stay
- DoD land contamination to test property prices
- Value uplift drives repurposing of industrial land
Australian Property Journal
