Real Estate: The Changing Industry

Years past the real estate industry players were buyers, sellers, real estate agents, escrow, title and mortgage, the main players. This short will focus on the changing role of a real estate agents and how they can stay ahead of the competition and more importantly the buyers/sellers when information is readily available.
 
The traditional method was to seek out an agent from a well known agency like Windermere or you knew someone who worked in the industry. The knowledge was kept and protected by the professionals and the buyer/seller had to rely on their expertise to put the deal together and handle all paper work. The internet has changed this and now adays buyers/sellers are more informed  and this opens up the question: Why does a person need the help of the professional? People can now go to site and search the Northwest Multiple Listing Service for the housing availabilities in their areas making it the biggest advantages for buyers/sellers and one of the biggest disadvantages for agents. Why?
 
Informed buyers/sellers can now search homes, research agent and companies as well as a lot more from the comfort of their own house. Then when they need to contact someone they have all the information at their fingers tips. Agents are not as valuable to as the used to be. So what can an agent to keep themselves on top of their game and be percieved as being highly valuable?
 
Agents have to equipe themselves with more knowledge, increase their professionalism and find ways to increase their percieved value. Here are three ways a agents can accomplish this:
 
1.  Having an Informative Website ~ You will be seen as the online expert and that is same things as being the expert. You want your prospective clients to visit and re-visit your site because it has up-to-date information on the local area, homes, neighbor hoods, schools and other various community information. They are more likely come back and more likely they are to call you when they need to buy/sell a piece of property.
 
2.  Get Visible ~ Attend function in your community like chamber meetings, dinners and/or other social events, walk through neighborhoods and introduce yourself as the local professional. You want to take up space in other people’s mind so when they think of buying/selling your name is immediatley associated with the real estate industry
 
3.  Be Postive/Have Enthusiasim ~ Do you want to work with some who is a downer? I didn’t think so. Does your experience feel better is your having a postive experience? Buyers/Sellers want to work with someone who is positive and encouraging about the home buying experience not your personal life or issues. Sure you will hear your clients’ but they shouldn’t hear yours because in the end; It’s all about your clients.
 
Arm yourself with the latest statistics and facts so your are the expert and inspire your clients and you will build what every agent should be looking for: A solid referral network. Take the time to understand the lifetime value of your clients. People buy/sell multiple homes in their lifetime so do your best to retain their business.
 
May your real estate ventures be pleasurable and profitable.
 
Toby
Advertisements

20 thoughts on “Real Estate: The Changing Industry

  1. hi toby^^~i haven\’t been here 4 loooooooooooong time+___+so busy here><now i\’m searching somethings new and update^^heheheheeeBe Postive^^YEAH!!!!

  2. Wow you arent that far from me 🙂 :)Just wanted to say hi and have a great weekend!! Great Song!! I love Jerry.Smooches from CaliCrystal

  3. Hi! Saw your comment on the "mad" professor\’s site. You\’re a nice guy, and it was nice to see some positive comments on her site. I\’m amazed at how she has incited so much wrath. I think she might have made a mistake by directly addressing rude posters and threatening to delete them.By the way, I LOVE all of your space links. I\’m such a space geek, hence the "writernaut" moniker. Hope you\’re having a wonderful week! 🙂

  4. My first home purchase…Never happend, couldnt stand my agent, then we tried another place….and still didnt buy a home. It was not a lot of fun. We finally did purchase our first home….we bought land form a land owner, who also financed it to us, and we had a doublewide trailor put in….UNTIL we can get our dream home..which is a log cabin type home. ( i love southwestern) If your not at least somewhat educated in the field of resl estate, it can be a nightmare! Toby have a great weekend! Boobie

  5. ugh buying a home sucks – not sure how the industry is where you\’re at but my God, in toronto it\’s just insane, it doesn\’t help when you an agent who is not well-intentioned. i realize it\’s your job, i realize that mostly people do it for the money but for the love of all good things don\’t let that be so obvious when you\’re trying to convince me that a 7×9 room is \’a good sized bedroom\’ frustrated,gracie[nice blog btw]

  6. OK I hate the idea of house buying..My husband and I have looked and looked..One we can not find the home we want and need..Two Well it is just a BIG ASS HEAD THROBBING PAIN..We are doing up blue prints to build our own home!(`\’·.¸¸.·\’´)*Majestic*(¸.·\’´`\’·.¸)

  7. thanks for stopping by…unexpected. just read a few more posts – you\’re very good at expressing yourself. dont stop!enjoy your weekend.

  8. You just never mind ~ ;o) this blonde will give the King all the enlightening he needs LMAO heheheNo just buggin ya hunHad to stop by ~ just had to do it ~ the devilish girl in me could not resist!Have yourself an awesome weekend Mr. Kirkland U.S.A.Luv N Hugz AlwaysSuz

  9. Hey there!Looks like we\’re neighbors…sort of! My hubby and I live in Federal Way. I added a blog list ("Washingtonians") and you\’re on it. Just thought I\’d let ya know!Great space!:0) Jenine

  10. Ok buying selling property 🙂 well I serously think the futur is to only package.You choice what you want online and then get services from it. So little agent will have to regroup, work for a compagny or whatever. SO really well informed web site with membership inscription for buyer seller with lot more informations (stats, trics to sell, ect).You may say but where will go the human contact?Well I mention before, select you package!!!1- So there should be many package, one for Computer geeks or well informed people that want to take part in the selling of their house.2- another package for medium use that don\’t want to sell so fast or pay too much.3- Luxe package for those who want max services, agent relation, max visibility, etc.A variation of theses package for more or less visibility, more or less help to sold, etc.That way it\’s best for the buyer sell and will always have many people to want full service. And custumer will be happy to can chose less services, so they might take more services du to that.here in Qubec some already do it, with the special things : If you sold yourself, we only ask you 2% instead of 4% commission, and other stuff like that. So people will still use the services :)Bye wish you like reading my comment :PIt\’s just my common sens, no special research 😦

  11. Hey Toby,Ok. From a guy who attempted to get a condo without doing his homework (and that is so out of character for me) until he was mid-process, I\’ll tell you why an agent is still a valuable asset.1) While any person can get a listing of the places up for grabs as well as a POS book on the property, knowing the area and the land it\’s on won\’t be listed anywhere. It will take a lot of digging to pull that information up. That\’s information most of us, including myself, may not have the time to do.2) Time! Like the computer industry, real estate has so many things you have to know to understand what the contract is saying. I *COULD* go out and read more books on these terms, but my life is busy enough keeping on top of my own profession. So agents are time savers to me. They boil what the books say down to a very quick cliff note.3) Expertise! While anyone can read up on a subject, it doesn\’t mean they\’ll be good at it. Pick up a book on Internet Authentication Server. Yeah, you\’ve read it. You know where things are located. But it\’s the experiance that pays off.4) MONEY! A good agent is usually paired up with a good lender firm. I know I almost got stuck with a loan that would of had me so thin on the budget, a sneeze would of broken my budget.It\’s like building your own computer. Anyone can do it. But when you assemble all the parts together and nothing happens when you push the button, that\’s when the expertise and experiance of a professional comes in handy.Cheers!

  12. Just passing through to say hello! Hope you had an awesome weekend!! P.S. no worries that you pasted my whole blog in the comments *LOL* :P~jml~

  13. Just wanted to stop by and say hello! It\’s been a few days since I\’ve been by and just trying to catch up. Hope your weekend is going along just great!

  14. hey sweetie…congratulations on another Seahawks win….we were not so fortunate this week….errrrrrr! have a good day! Boobie

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s