OpinionAgent

Solving the real estate agent’s technology problem

It comes down to your willingness and ability to compete
  • Individually, agents simply cannot afford to develop or even purchase the kinds of technologies allowing them to double their income -- which is really the thing they are most interested in.
  • There are only four major sources of obtaining the cutting-edge technology agents need to thrive, with the first requiring giving up their influence in the marketplace and the second and third refusing to help them.
  • The only technologies agents care about are those creating more business and income for them, which mean technologies that put other agents out of business. It’s a zero-sum game; you can’t have more unless someone else has less.

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Real estate agents are in a terrible strategic situation. There are only four major sources of obtaining the cutting-edge technology they need to thrive, with the first requiring giving up their influence in the marketplace and the second and third refusing to help them. Portals’ technologies The first major sources of technology are the massive portals such as Zillow, Trulia and realtor.com. Cumulatively, they spend far more on technological development than anyone else in the real estate industry. Each develops or buys the technologies and companies needed to continue their dominance of internet-based real estate activity, then makes much of this available at moderate pricing either through “membership” costs (Premier Agent) or through the cost of advertising and obtaining leads at their websites. The problem is that when agents spend each penny, they are simultaneously abdicating market influence to each portal while funding additional development of technologies f...