Some of our big stories this week included think pieces on big brokerages’ future, an homage to the everyday real estate agent and a piece weighing the ethics of video and audio recording during home showings. Here’s what readers had to say about all that and more.
The real estate industry is not alone in manifesting “gales of creative destruction” as described by Joseph Schumpeter but it is an industry with which most of us can identify. The real estate agent has little to fear of the future.
They can readily move from one firm to another where they can practice their trade, the demand for which does not seem to be diminishing. Managing brokers have little to fear of the future because they too can move to greener pastures while continually honing their skills and thus adding value to the agents they manage.
Owners and broker owners are the ones who are at risk because they have skin in the game and are susceptible to all kinds of threats mostly, as the article says, from within. The consumer was the first to benefit from internet by not needing the agent to get information but they have come to rely more than an ever on an agent in a transaction. The agents are now the one benefitting from the internet. Whereas in the past “brick and mortar” tied agents to a broker, it is no longer the case. Agents have found also that they need something different from their brokers and when they get that they and they will form lasting relationships. People may join a company but they stay or leave because of their manager.
Tammy Powell · Commented on How to protect your brokerage from failure in 2017
Great article. Getting to know the priorities of the agents is very important. Too many times corporate executives make the mistake of expecting everyone to have the same priorities they do. Even McDonalds understands that people in different regions of America are not all the same. Do you have a McLobster on your local McDonalds menu? Probably not unless you live in the northeast, but it does exist in Main and the surrounding area. Companies which have offices all over the country need to learn about regional priorities, attitudes, dialects and the many other diversities which make America great.
The agent in the south may feel that the office holiday party is important, and they are probably not going to care for you calling it a holiday party. The agent in the northeast may prefer the higher commission to the holiday party. Companies also need to look at how attempting to change local priorities, attitudes, traditions in a region can upset not only the agent population but the clients in the area. When you send supervisors into areas where they do not understand the people and try to create a culture which is so different from the local culture that it feels foreign to the agents and the clients, agents will leave and clients will take their business elsewhere. Knowing your people, knowing personality types, and learning styles is key to retaining agents, recruiting agents and growing local offices.
They are the industry.
Finally, a list that’s 1000% accurate!
Well said AND they are individuals who wake up every day and face rejection with impunity. To be a successful REALTOR, it takes enormous good will, persistence, positive attitude and a genuine concern to help another human being achieve a dream. Congrats to everyone who helps others achieve the dream of owning a tiny piece of the world to call their own.
Rick Snow · Commented on How I sold a house for more money because it had bugs
It’s extremely important to tell your buyer clients to restrain themselves from saying how much they love the house or discussing negotiation startegies in the home. It’s safer to always assume you are beeing recorded when viewing homes.
I always whisper in a home, I heard a story where a seller used a nanny stuffed bear to record conversations years ago from then on I have whispered.