Sep 09
8
The train is moving and the real estate industry is in a constant state of evolution and changes these days with technology, regulation changes, and economic challenges never experienced. In the early eighties, we had high inflation,high interest rates, 
and many difficulties in the housing market. REALTORS overcame these challenges in the market by taking proactive means to re-educate ourselves. Then many in our industry dozed off into a deep sleep concerning education and change. Adapting and learning new ways to do business is a must for brokers, managers, and agents’ to stay ahead of the knowledge curve and strengthen our ability to “think outside the box.” We are in a major paradigm shift while many are sleeping.
It is imperative that those real estate professionals who do come through this challenging market be fully prepared to take advantage of new steady growth that will be forthcoming. Professional development, learning new trends, and adapting to a more complex industry are a must for brokers, sales managers, and real estate agents. This also includes ancillary related businesses like appraisers, mortgage originators, and title companies that have experienced massive change. My point is, real estate professionals must adapt to new business strategies that enhance our knowledge, give quality service, and meet the demands of the e-consumer.
The real estate business is still a people business that requires building relationships and trust. Consumers still expect REALTORS to deliver quality service. These duties have never changed. What has changed is the difference between interruption marketing of the past to what today we call inbound marketing. Realtors need to adapt to the complex challenges of permission marketing and new methods of communication.
Developing an edge in today’s market requires REALTORS to have a user friendly website with IDX listings available. Practitioners need to be proficient in Blogging, social media, search engine marketing, and how to work with the e-consumer once they contact you. Using savvy marketing techniques may generate leads for agents, however with no skills in permission marketing and inbound marketing, you will be lost. Nearly 90% of the home buyers are searching homes on the Internet prior to ever contacting an agent. Are they finding you, when they go to Google, Yahoo or MSN?
Consumers drive the industry and have always driven it, however today they are looking online first. Technology, combined with local knowledge and input educates consumers. You’re not going to do that sending junk mail, holding seminars, running ads, or interrupting consumers with phone calls, emails or newsletters. You MUST be proactive by providing great content online with Blogs, podcasts, videos, and webinars that allow the homebuyer or seller to find you. Now some agents tell me they don’t have time or the knowledge to do this kind of marketing. I say “Bunk” you either hire it done or do it yourself. All this is part of your newfound professional development, learning new trends, and adapting to a more complex industry.
So, my fellow Realtors and ancillary affiliates, are you embracing these changes? If not, I think you will be gone within the next 3-5 years, if not sooner. Our industry needs to step up to the plate and sharpen our competitive edge by using good old fashion service integrated with new technology. I think I’m going to ride this train, how about you?
“Expect the Best” Mike
