Here’s the biggest challenge in real estate. And it’s not getting clients, getting referrals, or getting leads. It’s staying relevant.
Here are the facts:
Homeowners have all the data you have about neighborhoods and properties
Virtual Reality is coming, so buyers don’t need to go to open houses
Portals are getting better at allowing sellers to easily post their property
So how can you sustainably compete with portals and technology over the next 5 years?
Fortunately, you can stay relevant and have a growing and profitable business long into the future.
Consumers WANT Real Estate Professionals to be relevant. They want someone that is able to make the process of buying or selling a home easier and quicker. They want someone who makes them feel confident that they are not getting ripped off.
I’m super techy and know HOW to do everything without a realtor, however, the thought of it is ridiculous because I know great realtors who will make it easier, quicker, and give me the confidence I need for the biggest transaction of my life.
Now here’s how to stay relevant and capture your piece of the pie.
Local News: Portals do not provide local news, nor can they ever because they don’t have someone in your neighborhood, keeping a pulse of what’s going on. People LOVE hyper local information so become the source for this information, and you will always stay relevant.
Demonstrate that you’ve been in the property: Yes I can see inside a house from the comfort of my home. Yes I can contact a realtor whose ad I saw on Zillow to ask about the property. But if you are the local realtor who can give me the inside scoop since you’ve actually been in the property, you hold an advantage.
Use YouTube and social media outlets to do this.
Meet with People Face to Face: Portals can’t be in the neighborhood, and they can’t meet a buyer or seller face to face. Therefore, you cannot stop doing this. Realtors who “used to door knock” are idiots and just straight up lazy. Just think about it from a business perspective: if your sustainable competitive advantage is face to face interaction, then why would you ever stop?
That’s like telling Costco to start offering premium goods in small quantities because it’s trending. When it’s undeniably clear what you offer that portals do not, you hold an advantage. You need to continue doing it for your entire career.
Don’t play the online game if you’re not at least playing the offline game. Remember, you can lose online, but you can’t lose to portals and new technologies offline.
Know your strengths and play to them.