Not Responding To Change Is Just Plain Stupid
Posted in Alternative Business Models By Stefan Swanepoel, Wednesday, April 1, 2009.“It is impossible to predict the future.” That’s a statement I have made hundreds of times, both from the stage as well as in print.
Yet considering the most likely scenarios and then preparing for them lessens the shock when some variation of any prediction does materialize. Being caught off guard is just foolish. Why would you fight the future? The future is coming, no matter what. ""
We have all heard the saying that everything changes and that nothing is certain but change itself.
A wise Realtor® with open arms would embrace new concepts and innovations. Listen, read and test drive new technology, social media, ways to advertise, methods to reach out to the home buyers, creative ways to serve him or her better, differently and more effectively and cost efficiently.
Agreed. But not every new business model is necessarily better than the one you have. But they can’t all be bad. Whether you are a 50-50 kind of a guy or a believer of the 80-20 rule…it really doesn’t make any difference.
Not responding to new scenarios is stupid.
You’re not stupid…are you? Okay, so you’re not. Then don’t be in denial about change. The real estate business is changing. Homeowners are different. Real estate information is all on the Internet.
Read any good article, blog or report on the changing real estate industry and use this relatively slow period in the real estate cycle as an opportunity to retool.
If you are not sure where to start then read both my 2008 and 2009 Swanepoel Trends Reports. The two reports examine different important trends, strategies and concepts. These are wide-ranging studies of some 2,000 hours of research, interviews and writing or subscribe to my free monthly Trends Newsletter.
I’ll be the first to acknowledge that I have no crystal ball and that not everything in the reports is 100% accurate nor will be 100% in your future. But you will find no other report, more comprehensive, more complete or more focused on trying to provide real estate brokers and agents honest, objective and useable information.
I believe that real estate agents do have an important future role in the home buying transaction. Not as Sunday Open House-sitters, not as MLS Advertising Managers, not as Poorly Educated Sales Mavericks, but as true Real Estate Professionals.
And what is that?
A Real Estate Professional is a person that I can look up to. Someone who is my advisor regarding my real estate matters. He or she is a person that will wisely guide me to the right decision and not just sell me something because they earn a commission. Someone who will always negotiate the best deal for me and not try appease both parties to get the deal done. A person that will remain with me as my real estate consultant for all my future real estate and mortgage needs, whatever they may be.
Are you that real estate professional? Can you be that Mr. or Ms. Realtor®? If so, you are one in one thousand.
If not, I urge you to take action as the real estate business is going to change and will do so right around you.
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Submitted by Marcy Spieker on April 1, 2009 - 11:40am.
Oh . . . let me get this straight . . . in other words you are saying that Realtors need to run their business AS a business? What a novel approach!
I agree wholeheartedly and if anything shakes out of this turndown I hope and pray is will be a more professional real estate industry.
This, in my opinion, will not be accomplished until higher standards are demanded from licensees is terms of education, The Realtor organization itself and licensing requirements. You can still get a license if you can fog a mirror and even with the drop out of thousands of agents there are still thousands more out there that should not be allowed to do surgery on the pocket books of buyers and sellers.
Real estate agents need to be trained to recognize the depth of their responsibilities to their clients and the possible consequences, in many instances severe consequences, for not doing their jobs properly. This training needs to be mandatory. In our state you can get clock hour credits for fung shui, for photography, for staging. While all this is well and good, these are skills an agent needs to seek out over and above licensing requirements. Licensing renewal education should be strictly case law, contract law, ethics, agency, all of which are only touched on in the renewal process because the renewal process is way to easy.
Most of those who have weathered the storm have done EXACTLY what you advocate in this article.
Change needs to be embraced and with that change comes a cost. Agents need to be willing to pay the price to learn the new technology and invest in their business in general if they plan to remain in the industry.
Marcy Spieker, Seattle WA
Submitted by Justin Britt on April 1, 2009 - 2:06pm.
Mr. Swanepoel's work has been instrumental in us predicting future changes and being proactive with changes to our brokerage.
Here's a relevant post by our Principal Broker, talking about reacting to these changes:
http://www.hawaiilife.com/articles/2009/03/the-state-of-real-estate-mark...
--
Justin Britt
Head-Web-Head
Hawaii Life Real Estate Services, LLC
www.HawaiiLife.com
www.RealAppy.com
Submitted by Stefan Swanepoel on April 2, 2009 - 7:51am.
@Marcy
Yes,"Realtors need to run their business AS a business." One wonders how many decades before the industry as a whole understands that? :-)
Thanks for the comments.
Stefan
Submitted by TReXGlobal on April 2, 2009 - 11:06am.
Hi Stefan,
What's your take on investors in the current markets? I think it's definitely important for agents to have a strategy that focuses on today's buyers.
We're holding a webinar tomorrow on strategies and FREE resources that an agent can use to grow their business with investors, I'd love to here your thoughts on it.
It's on 4/3 @11 AM PST and lasts 25 minutes, here's the link to register:
https://www2.gotomeeting.com/register/912992528
If you can't make that one, try this link to see if we've scheduled more:
http://tinyurl.com/trexglobalwebinar
Looking forward to your feedback!
Niman Singh
www.TReXGlobal.com/Partner - Real Estate Web Tools for Marketing to Investors
@TReXPartners
@Niman
Submitted by Charles Richey on April 15, 2009 - 10:17pm.
It is a business, whether agents realize it or not. The tax man certainly treats it like a business. Applying basic business pricinples to real estate is a no brainer.
Charles Richey
Las Vegas Real Estate
Las Vegas Real Estate Blog
Submitted by Danny C. Flucke Jr. on June 4, 2009 - 4:30pm.
People resist change. Maybe it's not worth the risk. Not enough benefit.
I have many friends who have had laser eye surgery done. Most love it. A few have had issues. I'm still wearing my glasses. Why? It's still too big of a risk for me.
In business - It's the same. If someone can somehow manage to eek out a living by not following the latest tech advances - So be it.
It simply leaves more business for the rest of us.......
Work hard and ride safe, Danny
Danny C. Flucke Jr.
Senior Partner
Nationwide Mortgage Experts, LLC
www.NaMoEx.com
Submitted by Pasadena Real Estate Agent on June 5, 2009 - 11:37am.
I definitely agree with your post and I believe that all of us whom wish to remain at the top of our game need to take the time to get to know our local market and inventory this way we can predict what areas we should be focusing in.
Education is also very important as sometimes listings and sophisticated buyers are won because of higher credentials and sales skills.
Regards,
The Manzo Team
RE/MAX Tri-City
Remax Pasadena
626 296-2900
Pasadena Real Estate For Sale | Pasadena homes for sale |