To say technology changes quickly is an understatement. To say it changes quickly in real estate hasn’t necessarily been true – until the last couple of years.
The real estate industry is undergoing seismic changes. Many of these changes have only been possible with the advent of new and emerging technologies that in turn have enabled new business models. In a world where consumers homes typically make up 80% of their retirement portfolio, it can be understood why many think a 5% commission on the sale of their home is high, regardless of the agent.
What we are starting to see is a number of new business models enabled by technology that is either sell-side catered or buy-side catered promising ultimately to make the process easier, find you or sell your home faster, and for less money. How’s an agent or brokerage to compete? In a word, adopt
Adopt technology, adopt new processes, adopt new strategies, and adopt a new understanding of the consumer. The new understanding focuses on the lifecycle of the decision and the emerging influence of the players at the core and at the periphery of the decision. More data is available at a consumers fingertips than ever before, and in many cases more than the agent themselves.
We have seen new models emerge that combine business and decision processes a consumer goes through to buy a house or property. New applications such as
In today’s real estate businesses as an agent, you’ll need to be a finance expert, a wealth expert, a contractor, a designer, and a community expert. A difficult if not impossible task. A partnering mentality that has the consumer interest at heart can be a strong strategy. This can only be implemented with technology in order to scale. Look to areas where your brokerage can partner and where you individually can partner with those in the consumer journey process.
We recommend searching, exploring and evaluating these emerging models, singing up to as many blogs and newsletters you can, and taking at least 30 minutes of your day, every day, to actively source out new companies that are either launching or gaining traction. I can guarantee you your potential customer is.
LeadAssign partners with winning real estate companies to dramatically improve the “first contact” client experience. Streamlining the process of delivering the initial contact to the right salesperson’s hands in real-time is good for both the client and the agent. Whether you generate your own inquiries, generate partnered leads, or your broker aggregates leads, we make sure you have the best opportunity to engage with the client and progress to a transaction.