Editor’s note: Inman News is exploring what the next decade may hold for real estate professionals in "2020 Re-Envision: The Future of Real Estate Brokerage." Readers are invited to submit guest essays detailing their vision of the future for the real estate brokerage industry. Send your guest essay to firstname.lastname@example.org by March 12. The author of the top essay will receive a $200 Amazon.com gift card.
What will a typical day be like for a Realtor in 2020? Obviously, there will be amazing new technologies as well as plenty of agents hanging on to what they were doing back in 2010.
Our fictional Realtor is named Ava. She was born in 1990 and is a college graduate. Ava started helping her boomer grandmother Linda with her real estate business back in 2010 as a way to earn some extra money during summer break. Unable to find a job after graduating, and lacking the $500,000 it would take to complete grad school, Ava decided to follow in Linda’s footsteps.
Now with almost eight years of full-time experience, Ava owns the "under 40" market in her area.
Ava awakens about 10 minutes before her alarm. As soon as she sits up, the monitor across the room scrolls through the weather, headline news stories, stock market activity, current interest rates, new listings, expired listings and her appointments for the day. Hot coffee is already brewed and awaiting her in the kitchen.
After she finishes dressing, Ava opens her Nokia Morph (watch video here), takes a picture of her outfit, and the computer keyboard/phone morphs into a bracelet that perfectly matches what she’s wearing. How great to have all of your computer and phone functions in a stylish fashion accessory! Sure beats lugging around a computer and phone like she used to do.
After breakfast, she pops into her home office for a Skype conference with her Parisian clients, who are purchasing a second home.
"Computer, bring up 346 Sky Lane, 125 Canyon View and 556 Park Heights 3-D Virtual Tours."
Ava opens the French translation feature. Based upon the bedroom-bath count, location and the 57 lifestyle features her clients selected in their initial buyer interview, there is an 83.5 percent chance that they will purchase one of these three houses. Since 3-D walkthroughs haven’t shown up yet in France, she’s sure her clients will appreciate being able to review the houses from Paris.
Better yet, because her French is pretty rusty, "Pierre" (her computer’s French avatar) will translate during the showings. He will also be able to "walk them" to the neighborhood park, to the nearby Parisian bakery, and to any of the local shopping areas using the Google 3-D maps feature. School and community information scrolls across the bottom of the screen during the virtual walkthrough.
She has a few minutes before her clients ring her on Skype.
"Referral database. Seller probabilities: Summit Heights," she dictates to her computer. Three new names come up in the "above 40 percent probability" to sell their home in the next 90 days.
"Computer, issue invitations to Sandy Brown, Ron Davis and Tom Johnson for lunch meeting within the next two weeks. Confirm calendar dates, time and location."
Ava loves this new artificial intelligence feature. Not only does it identify who is likely to buy or sell, it tells her which restaurants are the best choices based upon the lifestyle features her clients identified when she was representing them on their last listing or sale.
"Referral database. Buyer probabilities: all areas." Two of her best investor clients appear at "above 40 percent probability" to purchase within the next 90 days.
"Computer, match best investment buys using current holdings and cash flow for Don Jensen and Sam Ellis. Send top five matches to client." …CONTINUED
"Computer, VM (video message) Don Jensen and Sam Ellis."
Ava presses the record button: "Hi, this is Ava. I’m sending you five of the best buys currently on the market that match your current portfolio of rental properties. You may want to consider picking up another investment before the Fed raises interest rates again. Let me know if any of them are a fit."
Ava’s Parisian clients ring her on Skype. After reviewing the properties, the clients decide upon the Canyon View property. Because the property was built in 2018, it has a full property monitoring system that tracks the exact condition of the roof, foundation and other systems on the property. After discussing the price and terms, her clients sign the offer digitally.
Ava enters their offer into the MLS online offer system. The listing agent and the sellers receive it instantaneously. Within seconds, the listing agent VMs Ava back: "Ava, we will have a response to your offer before lunchtime."
Ava signs off with her Parisian clients. Her next appointment is with the Allens. Although the computer’s retinal scanning system has been programmed to recognize the new owners, Ava still enjoys being there when the system allows her clients access for the first time as owners.
Her clients are jubilant about moving into their first home and they love her housewarming gift — perfect timing for getting a video testimonial.
Ava is then off to her listing appointment with Janet Randall. Although Ava could attend her appointment digitally, she still likes being face-to-face with her clients whenever possible.
As she is getting in her car, Sam Ellis VMs her Morph.
"Ava, I really like that triplex on Fourth Street you sent me. The online pricing evaluations suggest $1.52 million. Let’s offer ‘one-four’ and see if we can get it for under the current evaluation."
Ava clicks on to the offer system, enters the offer details, and sends it off to Sam for approval. His digital signature comes back a minute later. Ava hits the "Post Offer" button and heads to Janet’s loft.
Janet’s loft is in a 50-year-old renovated building. Ava’s lifestyle-analysis program predicted that 38 percent of all potential buyers would prefer Janet’s minimalist decorating style. Another 32 percent would select "Artists’ Studio" and 24 percent would choose "Nineties Retro."
Ava did two virtual stagings using the other two styles for Janet to review. Janet has not seen the lifestyle analysis program before, so she’s very enthusiastic about how Ava’s marketing plan has targeted the right buyers for her property.
Ava explains the new digital sign program that allows buyers to view the property and make offers from their handheld devices. Ava’s premium marketing plan also includes the new holographic 3-D walkthrough, global syndication, plus the lifestyle analysis program.
Linda wants the whole package, so earning a full commission is a breeze. Janet digitally signs the listing agreement, and Ava clicks "Post Listing." Within seconds, the digital sign is already turned on and the listing is syndicated across hundreds of real estate portals as well as several hundred thousand agent Web sites.
Ava checks her appointment scheduler and is surprised that Tom Johnson has already scheduled lunch with her. Tom must be more eager about selling than she thought.
She checks her other VMs. The Canyon View offer has been accepted and Sam’s offer has a counter of $1.46 million. She VMs Sam, who agrees to the counteroffer. Ava opens her transaction tracking system, clicks "Open New Transaction," and the system automatically transfers Sam’s earnest money deposit. A few minutes later, Sam has loan approval. If all goes well with the interior walkthrough, they should be able to close early next week.
As she walks into the restaurant to meet Tom, Ava can’t help thinking, "What a great morning and what a great business!"
Bernice Ross, CEO of RealEstateCoach.com, is a national speaker, trainer and author of "Real Estate Dough: Your Recipe for Real Estate Success" and other books. You can reach her at Bernice@RealEstateCoach.com and find her on Twitter: @bross.
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