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Keller Williams Realty hits another home run this week when over 4,500 agents attended Mega Camp in Austin this week. I gave three talks with the focus this year being on Mobile Technology. You can watch one of my talks on You Tube right here. Via Chris Alston (Keller Williams Realty, Cupertino California):
HA!
It seems that all of the real estate events I go to, I run into Stefan Swanepoel! And at this years Keller Williams Mega Agent Camp was no different!
Stefan was a keynote speaker during the event that is going on all week. Walking the halls, enjoying insightful and deep conversations and debates about current events that we are tackling in the Real Estate Biz. And of course, his presentation was packed!
If you have read the book, "Surviving Your Serengeti" then you know how amazing he can be with his knowledge on a diverse set of subjects.
-Chris Alston (Are you following me on twitter? www.twitter.com/chris_alston)
Chris Alston
CEO- Team Leader
Keller Williams Realty, Cupertino
20230 Stevens Creek Blvd, Suite E
Cupertino, CA 95014
408-850-6955
408-850-6956 fax
calston@kw.com
www.kw.com
Find me on:
    
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Have you ever woken up dreading the day ahead? Ever lost a job or thought you were in the wrong one? Ever struggled to keep your company afloat or balance household expenses? Ever struggled to raise a teenager or been a teenager with parents who just didn’t get it? We have all faced challenges similar to these at some stage of our lives, and many of us are there right now.
On a recent trip back to Africa, it struck me that there were strong parallels between life in the Serengeti plains and in the business world today. The animals of East Africa must migrate, they must keep moving forward and they must rely on their inborn skills to survive. The same is true in business; while it’s not usually a life-or-death scenario, as is the case in the Serengeti, people looking to advance their career or successfully run their own business – or succeed at any other challenge – must realize their innate skill and capitalize on it.
My new business fable, Surviving Your Serengeti, is about persevering over whatever challenging conditions you may be facing and surviving your own “Serengeti.” Whether you’re looking for a job after a long period of being unemployed, struggling to keep your job while balancing more projects with fewer colleagues to help you juggle the load, trying to keep your company alive through the recession or dealing with challenges in your personal life, this book provides a strong, and hopeful, message of survival – something I think we all need, particularly in today’s economy.
The metaphor in the book outlines seven skills.
No one skill is any more important than the others; in fact, each of these skills is essential in business and in life in general. What is important is that you realize which skill you instinctively turn to when facing a challenge. We are multi-facetted humans with multiple talents and skills. So while we are not limited to just one “Serengeti” skill, there is one skill that is the most dominant in each of us. Your task is to identify that innate skill that makes you, you!
This book is written for anyone who has faced, is facing or will one day face a challenge. This is a story that shows you that you can survive.
Know yourself. Accept yourself. Understand the skills that make you who you are. Maximize the skills and talents you have. Make sure you know and understand whom the other “animals” in your urban jungle are and what their skills are.
Start your journey by taking the short, three-minute online quiz at www.WhatAnimalAmI.com. This is not intended to be a complicated DISC analysis or an in-depth Myers Briggs assessment, but it is a fun way to open a discussion with a co-worker, a colleague or a friend about their skills and strengths.
Download and review the first two chapters of Surviving Your Serengeti this weekend and earn 2,500 points in the Serengeti ActiveRain Challenge - ONLY ONE MORE DAY.
Surviving Your Serengeti is officially released next week and you can get your copy at your neighborhood bookstore or online at Amazon.com.
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A business or life fable is a parable that shares a lesson. Often primarily focused on an application in the business world the narrative often has a wider application in life. Parables provide a simple way to understand, enjoy, share and remember an important message.
Hugely successful authors/books in this genre include:
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Ken Blanchard, coauthor of The One Minute Manager and Leading at a Higher Level
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Dr Spencer Johnson, author of Who Moved Your Cheese
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Patrick Lencioni, author of The Five Dysfunctions of a Team
My new book, Surviving Your Serengeti: 7 Skills to Master Business & Life, is a business fable and will available in bookstores nationwide on March 1st, 2011.
As a backdrop for the parable I decided to take the reader on a safari of self-discovery by using the mystique of Africa, the magic of wild animals and the epic saga of the Serengeti migration
For 1.5 million wildebeest of Africa, their Serengeti is a 1,000 mile-long migration filled with hunger, thirst, predators and exhaustion. The journey is impressive and so incomparably massive that is rated the #1 Natural Wonder of the World.
I believe the migration offers us a unique window on the very essence of life itself, and therefore the fable becomes a larger-than-life metaphor for the problems and struggles in our lives. As the story unfolds so it reveals the primordial skills each of seven animals have to overcome their life-and-death struggle. A sage and mentor shares how we each can discover our unique instinctive skill that will empower you conquer your fears, overcome your challenges and ultimately triumph.
I was privileged to have Ken Blanchard (author the best-selling “One Minute” series) read Surviving Your Serengeti and was thrilled when he said: “You’ll actually know more about yourself after you read this book—it’s one of a kind.”
Now you can read the first two chapters of Surviving Your Serengeti courtesy of ActiveRain and the publishers Wiley & Sons. Do it is this week and even 2,500 points in the Serengeti ActiveRain Challenge. Full details here.
The decade 2000 – 2010 is all, but over. In many regards, this has been a very eventful decade with many highlights, disasters, sorrows, unique personalities and innovation.
In your opinion which single word(s) – OK, not more than two word phrases and also acronyms – personify and will forever identify the first decade of the 21st Century?
To get your juices flowing, let me start us off…
- 9/11
- WMD
- facebook
- tweets
- Obama
- bailout
- foreclosures
- green
- BP
- wikileaks
I am surprised that this discussion has surfaced again… that speculation on whether the real estate transaction will be completely automated and that like travel agents and book retailers, Realtors® have become a dying breed and will disappear completely.
Not true.
Yes of course, Technology, the Internet, Social Media, Mobile Media, Real Time, QR codes, Augmented Reality, and Location-based Services, etc, etc. have already and will continue to play an enormous role in the future of the real estate business. Few people have been a stronger proponent and a more prolific writer about the value of technology, change and innovation, than what I have been. (19 books and counting) ☺:)
But, a dash of realism, calmness and patience is also required.
Purchasing a home is a very complex transaction, almost like a tapestry woven together with many players. It takes into account multiple laws, while it dances around endless vested interests. Often its progression creeps forward over a long period of time as if it were a thriller novel shrouded in mystery and large sums of money. Making changes is of epic nightmare proportions.
Almost every dot com company of the late 1990’s, whether its an international franchise, a new innovative upstart, a national title company, a technology company or a VC funded real estate initiative all share two things in common. First, they have all burned through thousands of hours and millions of dollars, and secondly, they all have fallen into that same trap – that purchasing a home is still a very complex transaction.
I however still remain very positive that change is happening, just slower than you think. Understanding how commodities differ will help you understand why I think real estate will not go the way of travel agents or booksellers.
(I have a very interesting note that you must please read after you’ve read the below explanation of the four commodity types).
COMMODITY TYPES
Standard Commodities
The first category is “Standard Commodities.” These are the types of products that are similar and standard, regardless of the time or place of the purchase. Since they are usually mass-produced, multiple consumers can purchase and own the identical item at the same time. Acquisition of the commodity is a very simple and nominal transaction. The product usually has a uniform standard pricing structure, thus making the transaction very one-dimensional. Products are easily packaged and shipped anywhere in the world.
Examples: books, CDs, books, clothing, etc.
Choice Commodities
Second is the category “Choice Commodities.” Products in this category usually involve a non-physical transaction such as the offering of a service. These services, although reproducible, might have small differences. The commodity can usually be reproduced and be available to many people, but the time of purchase or use is frequently singular. The pricing structure is usually varied, determined by selection as well as timing and sometimes buyer criteria. The transaction is a little more complex and time sensitive and could therefore be referred to as two-dimensional.
Example: airline tickets. Many seats are available on any given flight, but there is a difference between first class and coach, between aisle and window, etc. Although the exact same seat becomes available either in a few hours or on the following day, and although a similar experience is offered, it could vary in price due to external factors (e.g., delays, weather, etc.).
Intangible Commodities
The third category refers to “Intangible Commodities.” These are still products that can be listed and catalogued but they are no longer pure commodities. They are usually personalized to accommodate the needs and/or criteria of the consumer. The customer’s profile (creditworthiness, financial history), as well as other external factors now are of equal, if not more, importance compared to that of the product. We could say that the external factors add a third dimension into the equation.
Example: Mortgage Loans.
Unique Commodities
The fourth category contains products and services referred to as “Unique Commodities.” These commodities can usually not be shipped by an overnight delivery service and are extremely difficult to Web-ize. The products and services are not standard at all, not really repeatable and cannot be owned by different people at the same time. Similar to “intangible commodities,” high emphasis is placed on external factors, such as the buyer’s personal choice and/or circumstances. The uniqueness of the product also introduces a new fourth dimension into the equation.
Example: Purchasing a home. Each house is generally a one-of-a-kind item, it cannot be shipped, nor can more than one buyer purchase it simultaneously. This purchase is significantly influenced by the buyer’s details, is subject to numerous outside factors, is time sensitive and above all, entangled in a plethora of forms.
INTERESTING FACT
What makes above analysis thought provoking is that it was written by me more than 10 years ago (1999) and was published in the whitepaper Real Estate Confronts Technology, before the dot com crash.
Real estate is very unique and commoditizing it is not simple or easy. If it were, someone would have already done it. Commoditizing real estate is trickier than what everyone thinks. That said, we have, and will unquestionably automate many components of real estate. Those components will come most likely, from the parts that are “standard” and “choice” commodities within the real estate transaction.
However, the chance that Realtors® are disintermediated as a whole, is very unlikely. Will Realtors® have to change, absolutely YES! … But disappear, NO!
I attended my first NAR convention in 1987 in Honolulu, Hawaii. Pity we have outgrown that location. This year’s event was however in a great location, New Orleans. It has been five years since the devastation of Katrina and you can see that the buzz in the French Quarter has returned with the beads, bars and Bourbon Street leading the way.
Here is my snapshot of the highlights of NARdigras 2010:
VIRTUAL BECOMES KING
Both the presence of Gen X and Y as well as various online boomers flexed their muscles to make social media a powerful mainstream addition to the NAR convention. Virtual became reality through events such as REBarCamp, TweetUp, ActiveRain, various NAR scheduled meetings, as well as at the Starbucks and in passages on the convention floor. Congratulations to the many individuals that kept everyone informed including people such as Todd Carpenter (@tcar), Eric Stegemann (@EricStegemann), Daniel Rothamel (@RealEstateZebra), Rob Hahn (@robhahn) Maya Paveza (@mayaREguru), Chris Smith (@TechSavvyAgent), Chris Nichols (@UtahREPro), Reggie Nicholay (@ReggieRPR), Michael McClure (@ProfessionalOne), and of course the ever present Sherry Chris (@SherryChris).
#1 AT NAR
Few technologies have ever grabbed the imagination of our industry as quickly as the huge explosion of mobile and wireless computing. The array of service providers, app providers, and other companies that offered services using iPhones, Blackberry’s, or Droids were everywhere. In less than a decade this device has become the most influential piece of technology in real estate and the potential seems limitless. Read more about the power of mobile technology in our upcoming 2011 Swanepoel TRENDS Report.
LARGEST BOOTH
Wandering where some of your tax dollars went? J Dwarfing all exhibits this year’s were the enormous booths by the financial institutions such as Chase and Wells Fargo. The largest booth, if you could call it a booth was the impressive Home Loans Opportunity Pavilion of Bank of America. Interesting to note is that even with the huge pavilion (larger than Google, HGTV, Homes.com and Rapatoni – combined, times two) that Bank of America still had another booth the size of (Keller Williams Realty and RE/MAX combined) at the other corner of the trade floor as well.
LARGEST AND MOST ANNOYING BUZZ
Unquestionably QR codes. I have been speaking and writing on tagging for about two years now, and obviously I think it’s important. But now it is also the most overrated and annoying product. In the last two weeks, I have also received more QR code spam emails and tweets than any other single product. Slow down everyone, it’s hot, but not the silver bullet to solve everything. Jeez!!
SINGLE BOOTH BUZZ
Garnishing a lot of attention was the Kodak booth this year with ongoing presentations by numerous leading technology trainers such as Nicole Nicholay (@Nik_Nik), Verl Workman (@verlworkman), and Terri Murphy (@terrimurphy). The draw seemed to be the special real estate offerings that included the snazzy Zi8 video camera, the Easyshare and Scanmate.
MOST AMUSING BOOTH
In past conventions I have seen many colorful booth brandings including one of my favorites, “Two Men in a Truck”, however, this year’s “3 Blondes and a Short Sale” may just take the cake as the most amusing branding. These three ladies seek to educate brokerages and agents to list, market and close short sales.
NEWEST BIZ MODELS
Every year we have a few entrepreneurs that espouse a new way of managing a real estate company. Many don’t last long, many stay small, but every now and then we see a new player with potential. The two I liked the most this year were Allison James Estates (@allisonjamesinc) and NextAge Realty (@nextage_realty). In the 2011 edition of my annual Swanepoel TRENDS report we will be detailing the 10 most exciting new business models started since the turn of the century, 10 years ago.
GLARINGLY ABSENT
The number of booths this year was clearly was significantly less this year. Even the isles were widened (12 feet as to 9 feet) to “spread” the booths out and to be more “green.” J Large franchises this year that did not have a booth included EXIT Realty and Real Living (GMAC / Brookfield Residential Property Services). Is that a sign of the tough economy or merely a prudent financial decision? Will be interesting to see if others follow.
MOST DISAPPOINTING
The attendance by international delegates this was down. Clearly the poor housing market is felt across the world. One country even shared that they have experienced a drop from over 100 attendees two years ago to less than five this year. This drop was also reflected in the International Pavilion, the networking center and the overall buzz.
EDUCATIONAL EXCITEMENT
The most exciting new training program this year was the Internet Marketing Specialist Designation (IMSD) created by Ben Kinney (@benkinney), a SEO addict and Social Media Futurist according to Twitter. The course is a hands-on training system that teaches real estate professionals proven techniques to manage an Internet marketing and social media strategy. On that same front, the ePro designation course was also just updated by the Social Media Marketing Institute - Ginger Wilcox (@ginerwilcox) and Bill Lublin (@billlublin). Social media has at last entered real estate education in a big way.
ATTENTION GRABBER
After many years it still ceases to amaze me how enamored people are with celebrities. This year the Guinness Book of World Record’s Most Watched TV Star “The Hoff” (David Hasselhoff) from popular shows Knight Rider, Baywatch and America’s Got Talent, garnished the most attention and the longest lines at the convention.
NAR FOCUS
Last year it was RPR (Realtor® Property Resource). This year is was Home Ownership. This new public awareness campaign is both timely and extremely important as the industry combats the onslaught of negative media.
Smarter Agent snatched the NAR Second Century Ventures Fast Pitch Innovation Contest with a man in blue and red tights and a cool service. You can watch the video clip here: http://bit.ly/NARdigras
As a final note to this year’s convention wrap-up, I want to wish Ron Phipps (see video on Ronnie at http://bit.ly/nardigras2010) the best of luck as he takes over as the new NAR president from outgoing president Vicki Cox Golder. You are now at the head of the 800 pound gorilla every respects and fears. J
Loved your statement: “We need to not merely be the voice of Real Estate but the architects and the engineers of the future of Real Estate.” I think you will be a great president in 2011!
Last year as we approached the annual National Association of Realtors® (NAR) conference discussion, the residential brokerage industry was centered around the Tax Credit, the growing number of firms that were struggling to stay in business, and the exploding number of Realtors® that had dual careers.
Then the surprise announcement in San Diego was made and RPR (Realtor® Property Resource) and AVM (Automatic Valuation Models) became the buzz of not only the convention, but also for the rest of the year.
Since then, we’ve seen that RPR has celebrated various milestones, we’ve seen mergers and acquisitions of real estate firms is at an all time high, and we’ve seen frequent debates on which national franchises are growing and which are struggling.
On the Social Media side, we actively started exploring augmented reality and location-based services. It has been fun to watch how these concepts develop from ‘startups’ and ‘games’ into fledgling but blossoming, business applications.
Well, one of the benefits of the Internet and Social Media is that researchers and trend spotters like us now can reach much further and wider to gain information.
So we are extending an invite to you.
If you have seen any trend, strategy or innovation that you think is substantial – meaning that it has a high probability of impacting residential brokerages business on a national level – we want to hear about it!
Drop in comments at the bottom, find me at the NAR convention, or alternatively, I also have a great team back at the office continuing the research. Just send an email to Tom at tom@realsure.com or to Tinus at tinus@realsure.com and share with us your thoughts. We don’t guarantee that we will necessarily agree or publish anything, but we will listen and follow up.
The 2011 Swanepoel Trends Report (160 pages) closes its research the first week of December and is scheduled to hit newsstands February 1st as it does every year.
Ever since the introduction of the Internet in real estate in 1995 speculation about a new business model for the real estate market has been rampant.
There was a surge of innovation in the late 1990s touting disintermediation, reduced commissions and a more automated and streamlined transaction by using the Internet. Most of that did not materialize as a result of the now infamous “dotcom” crash of 2000. Most of the new business models at the time disappeared although a few interesting companies made it through to the new century.
Then came Web 2.0 and the flood of innovations caused a second wave of new business models to emerge. This time the focus seems was more about quicker customer services, virtual offices and reduced fees to agents.
NEW BUSINESS MODELS
What we do know for certain is that the real estate business is amidst significant change, and that the traditional model born in the 1960s and 1970s is under severe consumer, Realtor® and technology pressure to reinvent itself. Some franchisors and independents will comply and many will not. During the process many new models will push forward in an attempt to find their new niche and place among the next generation of leading real estate companies.
As always, the Swanepoel team at RealSure continues to track, research and share change with the industry. We are working on detailing in the 2011 edition of our annual report (publication date February 1st, 2011) a comprehensive study of the Top 10 best new business models started after the introduction of the Internet into our industry.
YOUR HELP
We are of course already aware of the usual suspects but can never be certain as to who should be otherwise included. So we need your help. Feel free to add to the bottom of this post on Facebook, ActiveRain and RealBlogging companies you think we should research or alternatively email us at Trends2011@RealSure.com.
A comprehensive discussion and summary of the 10 best new real estate models will be included in the 2011 edition of the Swanepoel TRENDS Report (RealSure; 160 pages, February 2011). The Swanepoel TRENDS Report is the leading annual trends report on the real estate brokerage business. For more information and testimonials visit www.RETrends.com.
Sunday is the 10th of October 2010, or 10/10/10, or 101010: Such a unique date.
It’s also a decimal day too and one of the few that is the same no matter which way around you write your dates. How will you remember today?
I wish you all the best of health, wealth & happiness in your lives.
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Stefan Swanepoel
Ladera Ranch,
CA
More about me…
Author, Speaker & Trends Guru
Address: PO Box 7259, Laguna Niguel, CA, 92607
Office Phone: (949) 202-5758
Email Me
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Surviving Your Serengeti is Published to National Acclaim!
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