There have been a number of articles discussing the future of traditional real estate brokerages. Predictions that the next few years may mark the end of an era of real estate brokerage as we know it today. Dramatic transformation of the industry is unavoidable due to the proliferation of large real estate portals, fee for service type brokerage companies, revolutionizing Internet technologies, and the restructuring and liberation of multiple listing service data.
What has resulted is two things: continuing consolidation into larger and larger real estate brokerage companies that control multiple segments including mortgage origination and relocation or a new paradigm real estate model that supports buyer representation, agent employed, technology driven fee for service. The impact of this plus the push to change the traditional role of the agent as only a transactional middleman, places a downward pressure on commissions.
Innovation is required in order for brokerages to provide encompassing transaction support to clients throughout the real estate contract to supplement decreasing net income. Real estate business services have extended into home mortgage, title, insurance coverage, home warranty and home repair types of professional services.
The Internet and telecommunications advances have enabled a new kind of real estate. The consumer has more information available through national real estate portals such as Zillow and Trulia and begins a home search long before contacting a real estate agent. These portals may have made more real estate data available but added a middle man between agents and their clients. This has increased the amount of money spent in real estate marketing to consumers. The agent recommended on these portals is not necessarily the best agent but the one who paid the most to be in front of the consumer. The data published by the portals tends to be less accurate and less comprehensive than that of local brokerages.
Realtors can no longer just place a for sale sign in a yard and a classified newspaper ad to succeed. Real estate agents have to possess multiple skills and be seen as industry experts within their specialized niche to be successful. The field of real estate has been fairly easy to enter in the past with few requirements, allows people to be their own boss and have to potential to earn a lot of money. To successfully pass a test to gain a license required only basic knowledge and then agents are responsible for their own additional education.
More stringent curriculum guidelines, advanced training plus years of real estate transaction experience are now required of newer agents to progress forward. A typical real estate agent is compelled by the intense competition with competing firms and other agents and are thereby driven to place their own compensation ahead of the client's needs. This has inevitably resulted in the decline of respect for the profession. Realtors must absolutely assist clients with first class service with the mastery of technological innovation and provide expert guidance. They cannot behave as a traditional real estate agent that guards their secrets and is constantly suspicious of rivals. Realtors who genuinely are committed to the best interest of others around them will realize better results. A firm grasp of a range of important subjects such as advertising and marketing, people, sales, mediation, and financing options will be needed by the modern realtor.
Successful agents will differentiate themselves as consumer focused professionals who provide good counsel to clients and colleagues and learning every facet of the real estate industry. This attitude of sharing builds trust and cultivates clients who listen to the agent's advice, respect their authority and get genuine guidance and predictable results.
Because the real estate industry is changing rapidly, the best way to prevent obsolescence will be to transform your function as an agent proactively. At the time the concept of real estate brokerage came about, there wasn't any Internet. Brokers restricted real estate information to ensure that from afar, there was no way to research a property. Advertising real estate had fewer avenues as well. The purpose of the real estate agent must focus on what professional services do you really supply which a customer cannot currently perform online. The same information is available to everyone must be distilled and interpreted by the agent to deliver unique content to consumers. Realtors must continually be totally reliable by passionately pursuing what is right and developing a persona dedicated to serving clients.
The disruption taking place in real estate will affect traditional brokerages that have recruited, partnered and supported independent agents. Agents still provide a valuable service that most of us need and want. The traditional broker business model centers around recruiting more and more agents who are ineffective in customer service, ethics and sales and thereby reduce the quality of real estate services in general. The broker gets a bigger split from poor performing agents who create a reputation problem for the industry. Better producing agents get a bigger commission cut because they provide the most value which means there is diminishing value of the broker.
This model must change to build consumer confidence in an industry where there is so much data available to the public. The opportunity for the new brokerage is to curate content for their customers to help determine the relative value of data and sharing that information with buyers, sellers and investors. Brokers can apply the same strategy to strengthen their agent relationships by making technology choices. Brokers can provide the service of constantly evaluating technology and making choices for the agents.
A small brokerage firm is now able to work effectively with significantly fewer employees to manage everyday business tasks as a result of huge advances in computer systems and technology. Brokerages are able to deliver full value to a group of sales agents through cooperation as an effective technique for addressing business crisis. Delivery of high levels of customer care along with coaching agents on a shared software platform promotes top-quality capabilities amongst agents due to the supportive office environment. The simpler, more enduring delivery of quality services for the client is just one of the many advantages of teamwork within a brokerage. Another advantage certainly is the greater sense of inclusion which can minimize agent turnover. Agents working together cooperatively promotes specialization and skillset expertise amongst the team. The professional team strategy is superior in enabling an individual's successes.
Openness and transparency will be an expectation from clients demanding a superior real estate experience. Critically important to working with the modern day informed prospect will be mobility, swiftness and customized customer service. Achieving success in the business necessitates that sales agents have an understanding of local real estate conditions and be able to deliver that information to prospects via their chosen communication sources (electronic mail, phone call, text messaging, social websites, etc.) A reluctance to trust real estate professionals drives most prospective buyers to extensively search online property sites like Realtor.com and Zillow. Transparency at every point in time during the transaction process is a consumer requirement. Nonetheless whenever a consumer is ready to act, they desire a fast response. When looking for real estate industry experts, consumers frequently turn to their own friends on Facebook. Agents will need to generate confidence online, offer valuable facts and information and never make sales propositions when using social media. Consumer reliance upon realtors to sift through information, negotiate the contract terms and walk them through the whole process will persist.
Brokerages that take on more oversight of sales agent training, software and service performance realize an effective way to develop a strong customer identity. Typically the brokerage will have to generate web site traffic in an effort to generate substantial qualified leads and brainstorm new ways to demonstrate value to their agents. By the brokerage creating a strong web presence, generating online videos and interfacing with the client, the agents are able to concentrate on providing outstanding assistance to the customer. The proliferation of mobile, social media and digital technologies unveils a totally new world of resources that results in the public being substantially less reliant on realtors, brokers and Multiple listing service solutions to obtain knowledge. Undoubtedly the true value that a realtor provides is to present insightful issues, answer questions and be a source of knowledge. This is a unique value that real estate agents provide. Agents and brokerage services that want to dominate the industry will be those willing to streamline all facets of the business.
The ActiveLife Realty Team has embraced this brokerage model and places emphasis on outstanding service to clients. By fostering a culture of cooperation and collaboration amongst the team members, the brokerage empowers agents who work together to ensure the best possible real estate experience for clients. As in any business, when the team members are happy, uncompetitive and confident in their abilities, this positive atmosphere is transferred to the client.
Under the guidance and tutelage of Broker, Alice Gardiner, the boutique brokerage was formed in 2009 as Gardiner Real Estate. Joined that same year by Sandy Hanner, the real estate firm was founded on the principles of a strict code of ethics and hard work on behalf of each and every client. The focus at that time was on the niche market of Sun City Texas since the founders' expertise was in working for the development builder, Pulte Homes. With a combined work history with Pulte of over 25 years, familiarity with every aspect of new and resale homes in Sun City Texas is a valuable body of knowledge that provides a distinct advantage to each client of the brokerage.
In 2011 the brokerage rebranded itself as Sun City Realty to identify the specialized niche serviced by the real estate brokerage. It became apparent that the active mature market would experience a boom in Central Texas and that other home builders would want to target the enormous population of retiring baby boomers. Sun City Realty subsequently reinvented itself as the ActiveLife Realty Team and added 2 more realtors to assist clients. In the later part of 2014, the general contractor of Sun City Texas finalized the purchase of an additional 1500 acres of land to continue expansion of the community. This announced growth has stimulated the ActiveLife Realty Team to broaden their marketing to include all Central Texas master-planned neighborhoods in addition to active adult communities.
Now the ActiveLife Realty Team has developed technologies to manage clients, transactions and marketing, provides training and support to agents, overseas and maintains the quality of transaction management, and nurtures a team approach to every aspect of customer service. The brokerage has implemented many of the changes that provide more value to clients and only works with buyers. Having always been focused on delivering quality lead-generation to agents, the ActiveLife Realty Team has built a website that provides so much information to consumers that by the time they respond to calls to action to subscribe to the newsletter or get a free "Buyers Guide", they are already qualified leads that have found a trustworthy and transparent source for their real estate needs. The fact that the ActiveLife Realty Team of agents are only buyers agents and the website educates consumers in regards to the distinct advantages to having unbiased representation in real estate dealings, solidifies that trust. The ActiveLife Realty Team is the future of real estate for a more consumer oriented business model.
What has resulted is two things: continuing consolidation into larger and larger real estate brokerage companies that control multiple segments including mortgage origination and relocation or a new paradigm real estate model that supports buyer representation, agent employed, technology driven fee for service. The impact of this plus the push to change the traditional role of the agent as only a transactional middleman, places a downward pressure on commissions.
Innovation is required in order for brokerages to provide encompassing transaction support to clients throughout the real estate contract to supplement decreasing net income. Real estate business services have extended into home mortgage, title, insurance coverage, home warranty and home repair types of professional services.
The Internet and telecommunications advances have enabled a new kind of real estate. The consumer has more information available through national real estate portals such as Zillow and Trulia and begins a home search long before contacting a real estate agent. These portals may have made more real estate data available but added a middle man between agents and their clients. This has increased the amount of money spent in real estate marketing to consumers. The agent recommended on these portals is not necessarily the best agent but the one who paid the most to be in front of the consumer. The data published by the portals tends to be less accurate and less comprehensive than that of local brokerages.
Realtors can no longer just place a for sale sign in a yard and a classified newspaper ad to succeed. Real estate agents have to possess multiple skills and be seen as industry experts within their specialized niche to be successful. The field of real estate has been fairly easy to enter in the past with few requirements, allows people to be their own boss and have to potential to earn a lot of money. To successfully pass a test to gain a license required only basic knowledge and then agents are responsible for their own additional education.
More stringent curriculum guidelines, advanced training plus years of real estate transaction experience are now required of newer agents to progress forward. A typical real estate agent is compelled by the intense competition with competing firms and other agents and are thereby driven to place their own compensation ahead of the client's needs. This has inevitably resulted in the decline of respect for the profession. Realtors must absolutely assist clients with first class service with the mastery of technological innovation and provide expert guidance. They cannot behave as a traditional real estate agent that guards their secrets and is constantly suspicious of rivals. Realtors who genuinely are committed to the best interest of others around them will realize better results. A firm grasp of a range of important subjects such as advertising and marketing, people, sales, mediation, and financing options will be needed by the modern realtor.
Successful agents will differentiate themselves as consumer focused professionals who provide good counsel to clients and colleagues and learning every facet of the real estate industry. This attitude of sharing builds trust and cultivates clients who listen to the agent's advice, respect their authority and get genuine guidance and predictable results.
Because the real estate industry is changing rapidly, the best way to prevent obsolescence will be to transform your function as an agent proactively. At the time the concept of real estate brokerage came about, there wasn't any Internet. Brokers restricted real estate information to ensure that from afar, there was no way to research a property. Advertising real estate had fewer avenues as well. The purpose of the real estate agent must focus on what professional services do you really supply which a customer cannot currently perform online. The same information is available to everyone must be distilled and interpreted by the agent to deliver unique content to consumers. Realtors must continually be totally reliable by passionately pursuing what is right and developing a persona dedicated to serving clients.
The disruption taking place in real estate will affect traditional brokerages that have recruited, partnered and supported independent agents. Agents still provide a valuable service that most of us need and want. The traditional broker business model centers around recruiting more and more agents who are ineffective in customer service, ethics and sales and thereby reduce the quality of real estate services in general. The broker gets a bigger split from poor performing agents who create a reputation problem for the industry. Better producing agents get a bigger commission cut because they provide the most value which means there is diminishing value of the broker.
This model must change to build consumer confidence in an industry where there is so much data available to the public. The opportunity for the new brokerage is to curate content for their customers to help determine the relative value of data and sharing that information with buyers, sellers and investors. Brokers can apply the same strategy to strengthen their agent relationships by making technology choices. Brokers can provide the service of constantly evaluating technology and making choices for the agents.
A small brokerage firm is now able to work effectively with significantly fewer employees to manage everyday business tasks as a result of huge advances in computer systems and technology. Brokerages are able to deliver full value to a group of sales agents through cooperation as an effective technique for addressing business crisis. Delivery of high levels of customer care along with coaching agents on a shared software platform promotes top-quality capabilities amongst agents due to the supportive office environment. The simpler, more enduring delivery of quality services for the client is just one of the many advantages of teamwork within a brokerage. Another advantage certainly is the greater sense of inclusion which can minimize agent turnover. Agents working together cooperatively promotes specialization and skillset expertise amongst the team. The professional team strategy is superior in enabling an individual's successes.
Openness and transparency will be an expectation from clients demanding a superior real estate experience. Critically important to working with the modern day informed prospect will be mobility, swiftness and customized customer service. Achieving success in the business necessitates that sales agents have an understanding of local real estate conditions and be able to deliver that information to prospects via their chosen communication sources (electronic mail, phone call, text messaging, social websites, etc.) A reluctance to trust real estate professionals drives most prospective buyers to extensively search online property sites like Realtor.com and Zillow. Transparency at every point in time during the transaction process is a consumer requirement. Nonetheless whenever a consumer is ready to act, they desire a fast response. When looking for real estate industry experts, consumers frequently turn to their own friends on Facebook. Agents will need to generate confidence online, offer valuable facts and information and never make sales propositions when using social media. Consumer reliance upon realtors to sift through information, negotiate the contract terms and walk them through the whole process will persist.
Brokerages that take on more oversight of sales agent training, software and service performance realize an effective way to develop a strong customer identity. Typically the brokerage will have to generate web site traffic in an effort to generate substantial qualified leads and brainstorm new ways to demonstrate value to their agents. By the brokerage creating a strong web presence, generating online videos and interfacing with the client, the agents are able to concentrate on providing outstanding assistance to the customer. The proliferation of mobile, social media and digital technologies unveils a totally new world of resources that results in the public being substantially less reliant on realtors, brokers and Multiple listing service solutions to obtain knowledge. Undoubtedly the true value that a realtor provides is to present insightful issues, answer questions and be a source of knowledge. This is a unique value that real estate agents provide. Agents and brokerage services that want to dominate the industry will be those willing to streamline all facets of the business.
The ActiveLife Realty Team has embraced this brokerage model and places emphasis on outstanding service to clients. By fostering a culture of cooperation and collaboration amongst the team members, the brokerage empowers agents who work together to ensure the best possible real estate experience for clients. As in any business, when the team members are happy, uncompetitive and confident in their abilities, this positive atmosphere is transferred to the client.
Under the guidance and tutelage of Broker, Alice Gardiner, the boutique brokerage was formed in 2009 as Gardiner Real Estate. Joined that same year by Sandy Hanner, the real estate firm was founded on the principles of a strict code of ethics and hard work on behalf of each and every client. The focus at that time was on the niche market of Sun City Texas since the founders' expertise was in working for the development builder, Pulte Homes. With a combined work history with Pulte of over 25 years, familiarity with every aspect of new and resale homes in Sun City Texas is a valuable body of knowledge that provides a distinct advantage to each client of the brokerage.
In 2011 the brokerage rebranded itself as Sun City Realty to identify the specialized niche serviced by the real estate brokerage. It became apparent that the active mature market would experience a boom in Central Texas and that other home builders would want to target the enormous population of retiring baby boomers. Sun City Realty subsequently reinvented itself as the ActiveLife Realty Team and added 2 more realtors to assist clients. In the later part of 2014, the general contractor of Sun City Texas finalized the purchase of an additional 1500 acres of land to continue expansion of the community. This announced growth has stimulated the ActiveLife Realty Team to broaden their marketing to include all Central Texas master-planned neighborhoods in addition to active adult communities.
Now the ActiveLife Realty Team has developed technologies to manage clients, transactions and marketing, provides training and support to agents, overseas and maintains the quality of transaction management, and nurtures a team approach to every aspect of customer service. The brokerage has implemented many of the changes that provide more value to clients and only works with buyers. Having always been focused on delivering quality lead-generation to agents, the ActiveLife Realty Team has built a website that provides so much information to consumers that by the time they respond to calls to action to subscribe to the newsletter or get a free "Buyers Guide", they are already qualified leads that have found a trustworthy and transparent source for their real estate needs. The fact that the ActiveLife Realty Team of agents are only buyers agents and the website educates consumers in regards to the distinct advantages to having unbiased representation in real estate dealings, solidifies that trust. The ActiveLife Realty Team is the future of real estate for a more consumer oriented business model.
About the Author:
Be sure to investigate all of your choices for living an active life in a master planned or active adult community. Get all the information about active adult lifestyle communities and home ownership choices from the experts for Central Texas.
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