The real estate industry is undergoing change. This dynamic change is facing many industries, not just real estate. However, industries with a service sector focus are most at risk. This change is being fuelled by greater reliance on the web as a direct channel between buyers and sellers; whether that is airline tickets, books, financial services or real estate. Buyers and sellers demand information to enable them to take a driving seat and have more control.

Home-For-SaleWhen it comes to real estate, the first wave of change happened in the early part of the decade as listings moved online and provided the perfect environment for searching and browsing to find the dream home. That early adoption has now accelerated exponentially to over 80% of all real estate searches occurring online, decimating the print media. The second wave of impact on this industry has now begun. This change concerns the critical issue of securing prospective future business for real estate agents, which involves the presentation and evaluation of personal reputation and respect — how to be found and how to build value online.

It is about content, participation and innovation. We believe that things are changing and that “agents will not be replaced by technology, they will be replaced by agents with technology”.

Put simply, if you want to be successful in real estate, regardless of sector, location or experience, and are passionate about how to harness the power of the web, we can talk. If you feel that leaflet drops and newspaper advertising is your future, then maybe we are not talking the same future.

Most service industries are in a constant state of evolution and changes every day with technology, regulation changes, and economic challenges, never experienced by most of us.  You can either bury your head in the sand or dig in and get in the flow of change. We believe that adapting and learning new ways to do business will help brokers, managers, and agents stay ahead of the knowledge curve and strengthen their ability to survive this paradigm shift.

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So where do we begin?
Understanding these new trends, and adapting to a more complex industry are musts for brokers, sales managers, and real estate agents. This also includes ancillary businesses like appraisers, mortgage originators, and title companies that have experienced massive change. Adapting to new business strategies that give quality service, and meet the demands of the e-consumer are a must. Developing an edge in today’s market requires that real estate practitioners develop competency in Blogging, Social Media, search engine marketing (SEM), and how to work with the online consumer once they contact you.

It is imperative that those real estate professionals who have come through this challenging market be fully prepared to take advantage of new steady growth that will be forthcoming. Consumers drive the industry and have always driven it, however today they are looking online first. Are they finding you when they go to Google, Yahoo or Bing? If not, you owe it to your family, company, and yourself to get on board and learn this business all over again.

These are several opportunities for realtors to use technology:
  • Enhanced listings for sellers that list with you
  • “Hub” website to promote or "brand" yourself
  • Use of social media to participate, and build reputation
  • iPad and cell phone apps to access real time info
  • Good Customer Relationship Management for repeat business
You have to have an online presence, or hub, that is reflective of whom you are and your business practice. If an agent isn’t representing themselves online, where their potential clients are, certainly those potential clients are finding agents that are online.

All this said there are no silver bullets, no canned solutions. Anyone who says there are is misinformed.

Our solutions are based on analysis of industry trends in a specific industry sector, definition of goals for a business, and knowing how to apply technology creatively to accomplish those goals.

Call 609-737-8667  to speak with an Internet Marketing Consultant

Posted: 3/9/2011 4:26:52 PM by Shep Morrow