I arrived at the open house to find potential homebuyers' cars piled up in the cul-de-sac before I had even put up the open house sign. We asked every person as they entered the open house, did you come because you saw the signs or did you see the home online? We discovered that 90 percent of the 50-plus people attending our open house saw our online advertising and cited that as their source of information. Moreover, two things became very apparent at this most recent open house: We noticed that only one set of buyers came with their agent Most buyers found the home on portals and not from their broker These findings were contrary to what was occurring when I entered the business in the early 2000s. In those days, buyers needed their agent to find them a house, and buyers sought out agents to find them houses. Nowadays, the control of real estate has drifted away from the brokers and agents and into the hands of the consumers thanks to portals. Portals (such as ...
- Agents and brokers are late to the party concerning technology and the internet; therefore, they are finding themselves behind the curve as the consumers’ trust has shifted to portals.
- Brokers are losing their brand influence as leads pour into portals instead of into their own store fronts.
- When an agent puts pictures on the internet of something the consumer does not desire, it’s very difficult to drive the consumer to come see it.