As if real estate brokers didn’t have enough to handle and worry about. Now Uber is in a lawsuit regarding whether their drivers are independent contractors. It’s not a stretch to think that this topic might be visiting our industry as well.
By now you’ve heard all the commentary about Zillow’s acquisition of dotloop. Good for them — their proactive strategies are what’s keeping the industry on edge and why they’re clearly operating from a position of strength.
A few weeks ago my wife and I started talking about getting her a new car. A transaction process that few look forward to — something in which we in the real estate industry can relate. I kept putting it off because I wasn’t in the mood to walk into a showroom, get accosted by a salesperson, deal with the finance guy and more fun stuff.
There’s so much noise in our business. Zillow and Trulia are taking over. National brands are coming in with their supposed all-encompassing tools and systems.
There are three areas I wouldn’t ignore as real estate broker in a consumer-focused market … coffee, computers, cars, or houses, we’re all dealing with the same consumer. Consumers with a high expectation of service, especially for an expensive purchase like a home.
It’s not just Uber. If you are engaged in a consumer-driven industry, then disruption is part of your world — and that includes the real estate industry. If there is one business model that is ripe for being disrupted, it’s the traditional real estate brokerage.
How perfect. While on my way to Real Estate Connect New York, using Uber to get to the airport in Miami, I found out that the driver is a real estate agent!
Face it, everyone has to play by the same rules when transacting a brokerage deal, mortgage or settlement, so it’s tough to change the transaction process. This leaves you with one choice: Find other ways to differentiate your brokerage if you hope to connect with today’s savvy consumer, whose expectations are molded by experiences at Apple, Starbucks and Zappos.