Six months ago, I made the claim that 2017 is the year of the broker, the year that brokerages must stand up to the threat of alt-brokerages and disintermediating tech companies. The chief way they can do this is through nurturing and protecting their most important asset — buyer data.
It’s critical for brokerage executives to take action to protect their brokerage’s buyer demand data. It’s not only smart to protect a key asset, but it also represents a massive business opportunity for both a brokerage’s agents and its executives.
As a brokerage executive, it’s your job to know everything about your business: consumers, agents, listings, the market.
January is a time for predictions for the year ahead — and this year, strangely, I’ve noticed a sense of pessimism surrounding the broker-centric model of real estate. To many, it seems as if the end of brokers is near. Yet as I spend time with brokerage executives and study technology trends, I come to a completely different conclusion. The doom and gloom is unwarranted.
If you’re a broker or an agent in any booming metropolitan area, you’ve heard the excuse over and over again, “It’s a low inventory market.” Granted a low inventory market typically indicates a seller’s market, which means sharply rising prices, a torrent of offers on every home and discouraged crowds of battle-beaten homebuyers.
Here are three reasons your offer-gen strategy is broken and some suggestions on how to fix it. First, it’s a no-brainer that people are looking for homes online when 9 out of 10 buyers are using the Internet for their home search and 43 percent found their home online.