Consumers Are Changing The Rules

        A new article, published last week by CNN and MONEY Magazine
("Tech trends rock real estate world"), would appear to focus on
technology. The real thrust of the article, however, is the way in
which consumers are reshaping the real estate business!

       The recent Real Estate Connect NYC 2007 Conference highlighted a number of Internet-related trends (such as blogs and sites where consumers actually rate REALTORS)  ...demonstrating the growing impact - and power - of real estate consumers:

       *** BEGIN QUOTE ***
       "The rules have fundamentally changed," said Brad Inman, the host of Real Estate Connect and publisher of Inman News. "Social networking is lifting real estate and in the next 12 months it's going to overwhelm real estate. It's been happening since Craig's List started but it's only now coming to a head."
       *** END QUOTE ***

       To read the entire article, go HERE...

       [SOURCE: CNNMoney.com]

It's no secret the industry as a whole is ever evolving and changing to economic, client, legislative and technological changes. Those that come to the realization that certain changes are going to happen whether they personally endorse them or not and adjust their mentality, attitude and client business model accordingly; will survive and/or thrive. 

The secret book is long dead and is beyond resuscitation. The information era is upon us, and as such we should embrace and cultivate it. Instead of pretending to offer our clients secret information, we must focus on offering our clients real value in our services knowledge and expertise .

• Marketing, they don't realistically have access to because of cost.
• Late night appointment settings.
• Screening of buyers so not to waste their time.
• Negotiating! Your skills in this area can justify your costs in and of themselves.
• Being able to show their home during the day while they are at work.
• Networking to other agents who represent buyers in their market.
• Explanation of the loan process, closing process, title work, contract,etc
• Knowledge of neighborhoods, schools and surrounding communities.

I am sure with thought we could go on for quite some time. Realtors have so much to offer the industry other than the secret information that has been guarded with such vigilance. Those are the areas we as an industry need to focus on. Remember when VHS was going to bankrupt all the movie theaters in the nation?

• CNNMoney
• Inman Real Estate News

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