Launching a real estate career is not for the faint of heart, but in 2017 it could be a career match made in heaven for the tech smart, according to Inman’s latest survey results. Combined with a strategic approach, the ever-improving suite of tools at real estate agents’ disposal has the potential to level the playing field between tech-savvy rookies and seasoned veterans slow to change.
What kinds of products are included in the real estate technology landscape? How much of their funding is invested, and how much of it comes from agents and brokers? Where will we see the most growth in the next few years, and which verticals seem to be simmering down? Inman dug into the numbers, researched the investors, surveyed readers and interviewed the experts. Here are our findings.
Modern consumers love their craft breweries, coffee shops and retail boutiques. But they also can’t say no to the convenience and scale of the robust Amazon Prime. In the real estate industry, you could say there’s a comparable David-and-Goliath competition between the nimble indie brokerages and giants the likes of Keller Williams Realty, Century 21 Real Estate, Coldwell Banker Real Estate, Re/Max and Berkshire Hathaway HomeServices. Though they tend to be smaller, to label indie brokerages as underdogs based on size might be a stretch. As one independent Kentucky broker put it: “Craft is cool right now. We feel that consumers trust independent brokerages more.”
“Why should I pay that commission?” “I was hoping to sell my house for more.” “We want to go FSBO.” Agents may find themselves knocking down these statements like devilish pop-ups in an intense game of Whac-A-Mole. Objections are a part of any sales process, but the job of a real estate professional to advise, guide and work with clients over a long period of time on such a monumental transaction requires the highest level of communication finesse.
A successful North Carolina agent once had a client who, after a two-hour listing presentation, told him that he wanted to think about his decision. The agent said “OK” and went into the client’s living room, sat down and turned on the TV. When the client asked what he was doing, the agent responded: “I’m not leaving here without this listing signed because I know I’m the best agent for you. I’m giving you time to think about it before you sign.”