THE COSTS OF INNOVATION AND OUR DEVELOPMENT PRINCIPLES
Following our investment in NurtureCloud in 2020 , we ’ ve recently increased our interest to 80 per cent and , while NurtureCloud continues to operate as an independent team , they ’ re strongly focused on and aligned with our objectives .
Damian Portaro is an early tech adopter
Inclusive of the NurtureCloud team , we have 71 software and data engineers , data scientists , product managers , digital business development executives and technology support analysts .
BY ALEX TILBURY
Our investment , together with our enterprise arrangements with our One System providers such as Google , exceeds $ 26 million per annum .
It ’ s only fair that our cost of innovation and development of new products are not considered in the pricing of our One System , as every product must be ready to use and provide value to our members .
The pricing of our One System has always been based upon our assessment of the value received by our members from using it . You must also benefit from the scale benefits that come from our wholesale agreements with suppliers , and One System pricing must compare very favourably to the ‘ retail prices ’ of the products in it and alternative solutions .
Accordingly , we ’ ve never sought to fully recover our technology costs . The percentage recovered has varied over the years , largely depending on the timing of the value arriving in our members hands . We ’ ve always taken a very long term view of the significant investment we make in our technology springboard every year over and above the One System fee recovery , and we will continue to do so .
As a real estate agent , Damian Portaro of Ray White Mildura has seen his fair share of challenges over the years .
He has worked with difficult clients , dealt with complex transactions , and faced fierce competition from other agents .
But despite these challenges , he ’ s always looking for ways to stay ahead of the game .
Damian is an early tech adopter . When he first heard about ChatGPT , a cutting-edge language model that could help him in his work , he was intrigued . He immediately decided to give it a try .
“ I saw the potential benefit immediately . If you are not using ChatGPT you are behind the eight ball . I use it for everything - from awards submissions to listing copy to video scripts ,” Damian said .
“ I have found it invaluable for my work as a real estate agent . With its ability to quickly analyse data and generate insights , ChatGPT helps me stay ahead of the competition and provide my clients with the best possible service .”
Damian is one of the top real estate agents in his area , thanks in large part to his use of ChatGPT . He continues to rely on the language model to stay informed and up-to-date on the latest developments in the market , and to provide his clients with the expert guidance and support they need to achieve their real estate goals .
Ray White ’ s VaultRE now has a ChatGPT plug-in for members to quickly and easily write listing copy . This is a game changer for our industry .
Learn more here .
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