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The Wise Realtor. Are Ready for Tomorrow?

"It is impossible to predict the future." That's a statement I have made hundreds of times, both from the stage as well as in print.

Wise Realtor

Yet considering the most likely scenarios and then preparing for them lessens the shock when some variation of any prediction does materialize. Being caught off guard is just foolish. Why would you fight the future? The future is coming, no matter what. And for it to arrive, time will change.

We have all heard the saying that everything changes and that nothing is certain but change itself.

A wise Realtor^® with open arms would embrace new concepts and innovations. Listen, read and test drive new technology, social media, ways to advertise, methods to reach out to the home buyers, creative ways to serve him or her better, differently and more effectively and cost efficiently.

Agreed. But not every new business model is necessarily better than the one you have. But they can't all be bad. Whether you are a 50-50 kind of a guy or a believer of the 80-20 rule...it really doesn't make any difference.

Not responding to new scenarios is stupid.

You're not stupid...are you? Okay, so you're not. Then don't be in denial about change. The real estate business is changing. Homeowners are different. Real estate information is all on the Internet.

Read any good article, blog or report on the changing real estate industry and use this relatively slow period in the real estate cycle as an opportunity to retool.

If you are not sure where to start then read both my 2008 and 2009 Swanepoel Trends Reports. The two reports examine different important trends, strategies and concepts. These are wide-ranging studies of some 2,000 hours of research, interviews and writing. Or subscribe to my free monthly Trends Newsletter.

I'll be the first to acknowledge that I have no crystal ball and that not everything in the reports is 100% accurate nor will be 100% in your future. But you will find no other report, more comprehensive, more complete or more focused on trying to provide real estate brokers and agents honest, objective and useable information.

I believe that real estate agents do have an important future role in the home buying transaction. Not as Sunday Open House-sitters, not as MLS Advertising Managers, not as Poorly Educated Sales Mavericks, but as true Real Estate Professionals.

And what is that?

A Real Estate Professional is a person that I can look up to. Someone who is my advisor regarding my real estate matters. He or she is a person that will wisely guide me to the right decision and not just sell me something because they earn a commission. Someone who will always negotiate the best deal for me and not try appease both parties to get the deal done. A person that will remain with me as my real estate consultant for all my future real estate and mortgage needs, whatever they may be.

Are you that real estate professional? Can you be that Mr. or Ms. Realtor^®? If so, you are one in one thousand. If not, I urge you to take action as the real estate business is going to change and will do so right around you.

So what do you think Realtors^® should do?

Posted by Stefan Swanepoel on 03/30/2009 10:45 PM

Comments (82)

realtors, changes, trends, shift, real estate agents, real estate brokers, real estate technology

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82 Comments on The Wise Realtor. Are Ready for Tomorrow?

MAR

I hope all will use this information to help them with their business. Mr Swanepoel posted a note from the Orange County paper about how REALTORS can help buyers and sellers. The comments from consumers was not flatering. We need to be the professionals that we can be and show buyers and sellers our value. Read as much as you can and put the tools and your brain in to motion to show consumers that we are professionals .

I just went and signed up for the newsletter...

I work very hard to make sure MY client is covered and helped... I work to be their advisor, and I take that very seriously.

Stefan, Thanks for the info, I will sign up for the newsletter.

Hi Stefan~ I wenst ahead and ordered your newsletter too. I strive only to be the very best I can be for my clients!

Just signed up for your newsletter as well!!!

In this business, we can never be too informed of what is going on around us.

These are words to live by, and I just added them to my white board: "We have all heard the saying that everything changes and that nothing is certain but change itself."

Thank you for sharing.

Harrison Painter

Stefan - You are so right, real estate is changing and we have to adapt to the changes. The Internet and social media has had a great impact on how we conduct business and how the consumers interact with us. It is important to keep up with the changes if we want to be the real estate professional that the consumer seek out.

I want to tell you how informative I found your lively speech at the ReCyber convention.

Interesting...I just went and signed up for the newsletter for both my own as well as my real estate agent clients. I look forward to reading the next issue!

MAR

Stefan - I also signed up for your newsletter. I also heard you at a breakout session at KW Family Reunion. Thank you for the great information!

Stefan - Just signed up for the newsletter. What a great product to offer us. I used to live in Aliso Viejo (while my husband was stationed at MCAS El Toro), back in 1996-1998. We loved it. What an informative post; congrats on your little gold star. Cheers,

We certainly feel the changing winds blowing and are determined to continue to adapt and work hard to be the professional advisors our clients deserve. ~Rita

Hi Stefan, I wrote you this great comment and it disappeared. To recap, thank for this and I will also subscribe. You always deliver some great infromation and always seek to enable us to be better with your great insight.

Stefan, thanks for the post and the recommendations for reading your trends reports. This is an example of the depth and wisdom available here. Congratulations on all the new newsletter sign-ups.

With so much information out there, I find it absolutely necessary to stay on the forefront of information and taking that information and being able to intrepret it for my customers.

What do I think Realtors should do? Get their heads out of .... the sand. Things are changing rapidly, and will not ever go back to "let me put my realtor pin on and they shall come to see me in my cubicle."

Stefan-You bring up the observation that the only constant is change and we all need to heed the changes to keep ahead of the pack!

Stefan,

Great advice..I signed up for your newsletter!

I have been following your opinions since I saw you speak in Santa Fe in 1999. Your Trends Report is the one real estate book, that if I could only read one per year, would be my choice. Glad to see you post on Active Rain.

Great post.

I agree, people who can perform a transaction will not be as in demand as though who are sought after for their expert advice.

Thanks Stefan for the information. I also will sign up for your newsletter.

Mary

Hi Stefan, Good post. Thanks for sharing.

Best - Sash

Stefan - thank you for generous offer to receive your valuable newsletters. That's very helpful. Regarding the question: I think that many veterans are the Realtors(r) of the future. Higher education, better consulting skills, technological literacy, more sophisticated sales skills plus ability to profit from agency relationship, not only from commission make the Realtor(R) of the future. Always eager to be that Realtor(R) for my clients.

Another new subscriber here for you. Looking forward to your newsletters. Thanks

Stefan - Great post. Anyone who reads this can assess and evaluate where there are and what they can do to improve their services as a professional Realtor. You are right, things are changing. A good agent will embrace that change and improve on what they are doing today to be better tomorrow !

Thanks for the great article and the newsletter (I signed up). We have always worked hard to be the realtor for life - and continue to do so everyday.

Hi Stefan, I couldn't agree more with your take on the Wise Realtor. They need to be a trusted advisor to the client.

Stefan, I actually have your website open in a tab right now. I've been wanting to check out your forward-looking work. I'm going to subscribe to your newsletter.

Stefan - great post and advice. We must realize our roles and work very hard to honor it.

I couldn't agree more that during this slower time we need to be re-tooling for the future. Technology is one but I predict that green building is going to become the norm. The builders are already there but Realtors will need to educate our buyers and sellers not only about the facts but about the incentives, loans and rebates available to them.

I'm going to be honest, I didn't read your post. I wanted to comment about the photo you used, and it's truly amazing! I love that! Now I'll go back and read ;-)

Stefan- Great to see your post here! Congrats!

Tom

some days it is hard to keep up with all of the tech changes. being one step ahead is a lot of work.

Nice post and thanks for the newsletter.

As always, keeping up with your comments.

I read your last book twice. No we don't know what the future will bring but we can learn from trends.

thanks

www.multiplewebsiteservice.com

Our business is changing to such an extent tha sometimes I wonder what is our USP?? The world of internet is providing so much info to consumers at the finger tips that it is sometimes difficult to play catch !

Stefan,

How right you are - we must stay informed about our ever-changing market, particularly in THIS day & age!

Holding onto the proven, tried & true strategies is certainly a smart thing to do - however, we must also embrace the new & innovative approaches & tools that we are presented with on a VERY regular basis.

Hope all is going well in YOUR Real Estate world!

Thanks,

Edith Schreiber - Dallas Texas

Stefan,

Thanks for reminding us all of this! I'm anxious to read your newsletter as well.

Stefan,

Great post. Thanks for all of the insights and suggestions. And thank you so much for the newsletter. I just signed up.

The article was BOLD and helpful and I agree it is time to retool and get ready for the new cycle of homebuyers.

Wow, what a flood of kind words. Thanks everyone, I love you all.

The real estate business is not only truly the last stronghold of entrepreneurship but has been for the last couple of years, and continues to be at the nexus of huge change.

Not only can we survive the change, we can triumph and become better from it - if we are willing to learn and improve.

Based on the great response, it appears we have many Rainers that are willing to lead the charge!!

@Joe - Santa Fe in 1999. That's a solid 10 years ago Joe. I remember the event well. It was my first trip to Santa Fe. How time flies. Thanks for keeping in touch and staying the course!

I've only been in real estate for about 2 years. I've met all kinds of agents. Most are honest, hard workers and serve their clients well.

But I have also been amazed that some of them lasted as long

as they did. Many obviously benefit from knowing a lot of people, being married to builders, reputation in their communities, etc.

Great for them. However, I find a lot of agents who have not attempted to "keep up" with technology, legal issues, or marketing trends.

I have had a few career changes in my life. I love change. Change has a learning curve. I happen to like steep learning curves.

As soon as I considered real estate, I quickly realized that I would have to do something to differentiate myself. I had worked in

visual merchandising off and on for years, so I added staging to my services.

Then I started a separate company, TWEAK, just to do staging.

I said all of this to say this: We are definitely living through a major shift in our field. While we do not "know" how all of this is

going to turn out, we do know that "business as usual" is over. The selling of real estate may become a commodity much like

many other services. Thanks to my staging "difference", I am able to stay in this business

that I love. But I'm already thinking about what's next. What do I need to learn next? What are folks going to need in five years?

I know that if I constantly ask myself those questions, I'll have the answers when I need them. Thanks for the great prompt.

Mona Lisa

Well I tried to subscribe. I hope you got my e-mail.

In the elaborate words of Larry Vecchio (above) "thanks"

Stefan, I enjoyed your presentation at NAR in Orlando.

What I'm about to say won't be popular.

On Marketwatch today in response to the housing numbers, one person wrote: "The Real-tards have to stop hyping the numbers."

This is the perfect time to re invent our business models to make this a profession. And, reading through the comments perhaps we could start with learning how to spell.

Thanks for your inspiration!

I'm intrigued and will look forward to getting your newsletter. I think we need to be as informed as possible.

By the way, I was very intrigued by your graphic.

Hi,

Thank you so much for your post. I couldnt agree more! I find myself everyday asking how certain people have ever stayed in business. I stay on top of everything I can and am constantly educating myself to stay ahead of the pack. I find the problem to be that so much of the public is used to dealing with a different style of Realtor and are a bit overwhelmed when I try to guide them professionally. Its seems in my area that some people want the usual "drone" that just trecks them around looking at houses randomly. I love my job but I must say, I wish the public was a bit more educated on what a good Realtor can really do for them. I hope we are making a dent in the education by using sites like this to share our thoughts with the public.

Diana Brunner

BROKER - Blue Realty GMAC - NJ

Thank you for awesome information. Sometimes we need be reminded that our industry changes so fast we can miss many opportunities. The men that started Connect Realty read your report in 2006 and that is how our company came about. We are based on technology and the ever changing market of real estate.

Exactly what you say. We can debate tactics, but your post is right on.

APR

That picture is freaky! Looking forward to reading the reports.

@Gene Got your email. Will take care of your regsitration. You are right, it seems that some systems don't yet recognize .info email accounts. Some updating is in order.

@Gary I am honored that my Trends Report contributed to the creation of a new paradigm business model. I hope that Connect Realty does well. Good luck!

Stephan,

Do you mind if i print this blog to show to my prospects and clients? i refer specifically to this part:

So what do you think Realtors^® should do? It has been what I have aspired to for the last 5 years and you are dead right when you say not one in a thousand can do it, most don't even Try

Thanks for the wise advice and inspiration, I've really been down the last few weeks and almost left the business, but came to my senses and just days ago turned down a JOB with a guaranteed salary. Thanks, Bill

I liked your article, Stefan, and those that want to stay in real estate and enjoy what they are doing and be profitable at it, must take heed now if they haven't already.

I have signed up for your newsletter and look forward to receiving it.

Thanks for sharing.

"A Real Estate Professional is a person that I can look up to."......... I agree. I think the move away from the agents with the pushy selling techniques started several years ago and will continue until we meet the future objective that you have stated and the non-professionals are forced out of the business by the more informed consumer.

Thanks for taking the time to write. I, too, have signed up for your newsletter.

Key to being a professional realtor be honest with your current and prospective clients! Great article

Thanks for the reminder, we all have work to do, just to keep up.

Stefan,

Pardon the pun, but what an "eye catching" picture!

Some great and insightful thoughts that we must take to heart.

I'm signing up for your newsletter now.

Thank you for the post and the newsletter! Realtors need all the data they can get in today's market and I appreciate your research.

Just like in all businesses those who have passion for what they do and integrity in how they do business will survive and thrive.

It's all in service to our clients. Those who were in it solely for the revenue are gone because they can't survive today. Buyers and Sellers demand integrity first and you can't fake that.

There are many agents that will do or say anything to make a sale happen. How do we combat this virus in our industry? Harsher penalties? A more strict code of ethics? Any Ideas?

OK....that picture sort of creeped me out ;-) It is amazing to me how much people are resistent to change...I could not imagine alwaysa living life in the comfort zone...although I think going forward the comfort zone will become very uncomfortable for those that cannot embrace the changing dynamics of how real estate is bought and sold.

Truly words of wisdom Stefan. However, I am also a true believer in traditional tried and tested methods.

Last November, I listed a quaint view home in Monterey Park. I posted the home on various internet sites.

In addition, Over 50 agents previewed the property with their prospective buyers. I was almost certain I would

not be procuring the buyer myself. However no offers materialized. I was determined to see this home

sold. I then canvassed with fliers over 500 homes in a half mile radius of my listing, not once but twice. I

held open house three sometimes four days a week. In January I wrote an offer which was accepted. 45 days

later escrow closed. I am responding to new scenarios. At the same time, I am also holding tight to

traditional ones.

@Bill. No of course not, you are more than welcome to share my posts, articles and writings with others. All I kindly ask is that you acknowledge me and provide a link to www.RETrends.com

My thoughts and prayers are with you during these tough times. I hope you recover and have a great 2009! If I can help, let me know.

Best wishes
Stefan

@Mark. I agree 100%.

To all that enjoyed the "eye catching" picture! Glad that after you saw the visual, you still stayed on to read the post. Shows you that packaging the message is as important as the message itself.

Very good post! I think for the most part, Agents have accepted the changes that must be implemented in order to succeed in the future. The problem I see, however, is that the "SYSTEM" in which we operate our businesses, is BROKEN. Until that gets fixed, and the less than professional Realtor@ leaves the business, I don't see our image gaining credibility anytime soon. My own personal credibility statement however, says; If your looking for 1 on 1 expert advice from a Professional you can Trust! click here!!!!!!

Mathews Realty Group/Buyer Agent-Investment Advisor

Thank you Stefan, I agree! After being in RE for over 30 years, I thought I had seen everything . . . not true, still changing. I have found the Golden Rule applies to your Buyers and Sellers. Honesty, Integrity, Knowledge and Truth is what they are looking for even though they might not like the answer. Our system is broken and we all need to fix it. Be professional at all times!! Share your knowledge if another agent inquires, return their phone calls and, for goodness sakes, give the feedback that they are requesting if you have shown one of their listings; it only takes a minute and the Seller can see what a Buyer actually thought about the property - how novel. This is the best business to be in, and we are slowly choking ourselves to death. Stay current on everything that you can and be there to actually help your Seller or Buyer!

Good luck in these tough times - and, again thank you Stefan!!

Stefan ... thanks for this good article and encouragement for us as Realtors and brokers to embrace change and be prepared for the future in real estate.

We are in the customer service business ... with client needs the focus and real estate being the subject.

We agree. A REAL ESTATE PROFESSIONAL is one who focuses on customer service, who is a trusted advisor in all matters real estate, not just an information provider.

A REAL ESTATE PROFESSIONAL will use wisdom and guide the customer and client .. so that they will make their best decisions about real estate.

A REAL ESTATE PROFESSIONAL will negotiate the best deal for the customer and stand by as consultant for that client in all needs, especially those involving real estate and mortgage.

I intend to look at your research articles. So thanks again, and best wishes.

Great Blogging! Looking forward to the newsletter. Thanks ~ JC

SOLD - I'm signing up for your newsletter too. Mahalo.

Stefan, I couldn't agree more. I have been a marketing consultant for 30 years all over the world.

Now I am in Real Estate in Florida, and that is exactly how I see my role.

The advicer, the eye opener for opportunities and then the supporter by finding all the facts for a wise decision.

Let us all embrase the future!

Peter W. Just

A very insightful article. Thank you for reminding me to be the best Realtor I can be to my clients and to other Realtors.

Dear Stephan,

I love your third eye!

A REALTOR should do whatever is necessary to promote their clients needs. This will vary by client.

One of our problems is that the general public sees us as ad writers, open house agents, and chauffeurs! Many don't understand our role until we show them or educate them.

Many are still licky wounds from agents who did not do what they said they would do or waht they should have done.

Excellent post!

Barbara

APR

Thanks...signing up for the newseletter!

APR

Hi Stephan,

Read your post and every response. Quite honestly, I'm shocked at actual responses themselves. Absolutely no offense to anyone but isn't your article kinda common sense?

Of course we have to embrace change. Of course we want to look professional in front of our clients so they look up to us. Of couse we want to be the Realtor for life.

No doubt everything you said sounds great. That SHOULD go without saying. (sad day for our profession when it has to be reminded.)

However...

...unfortunately, being a trusted advisor takes second place to the almighty dollar. Unfortunately, technology is second to the almighty dollar. Unfortunately, having a Realtor for life is secondary to the almighty dollar...especially in today's economy. (Maybe that's why my e-book about negotiating Realtor commissions (www.negotiatecommission.com) is selling better than my expectations.)

All these things don't mean a bean of hills unless consumers KNOW the Realtor.

Are Realtors in the business to make money to live a lifestyle suitable for them or are they in business to make an industry look professional? I'm in it to make money and so is every single Realtor who responded to your post.

It's not the Realtor who is a trusted advisor, who 'wants' to be a Realtor for life, who embraces change, who is up on technology, who has an account with a social network site (and the list goes on) who will be successful in this business.

Instead, it's the Realtor who finds the person who is looking to buy or sell real estate right now.

The reason why I am such a fan of yours AND WHY EVERY SINGLE REALTOR WHO WANTS TO MAKE MONEY IN THIS BUSINSS SHOULD BUY YOUR TRENDS REPORTS (yes, even the 'old' ones) is because they give a glimpse into the future based on conditions of today.

If I'm starving and I know there's going to be a food giveaway tomorrow at the local library then I'm going to the library. If I know that for the next two years foreclosures are going to be the hottest thing selling then I'm going to learn everything I can about foreclosures and step right in front of the foreclosure train.

Your amazing Trends Report CAN be a crystal ball (or the closest thing to it) and make Realtors lots of money if people would actually buy a copy, read it and LISTEN to what you've written.

In short, all of the things you said are true and I agree. However, that alone DOES NOT make a successful Realtor.

Steve Hattan

(By the way, GREAT 2009 Trends Report. Read it in an hour!)

Oh...I forgot to mention...

For all of those who signed up for the Trends Newsletter, Congratulations. It is worth it's weight in gold, no doubt.

Sadly, though, I didn't read anyone who said "Hey....bought your book! Thanks for spending 2000 hours on it to help me become all I can be as a Realtor."

Step in front of the oncoming train...buy the Trends Reports!!

APR

Glad I saw your post. I've signed up for your newsletter. I used to work in consumer products and we had trendspotters, such as Faith Popcorn, who always gave us something to think about. I have had the opportunity to read your articles and reports in the past and found them valuable.

APR

@Steve

Wow! Thanks for the bold words of recommendation and endorsement for the Swanepoel Trends Report. I am grateful that the Report is able to contribute to the success of so many Realtors and also hope that many more Realtors are able to read and benefit from the Report in the future.

My best wishes to your business and ongoing real estate career!!

Stefan

APR

Hello all....I just dropped in here, for the first time, and read all 80 posts...W O W!

From what you folks have said, it is clear you are made of what matters in our industry.

If you haven't heard of the ACRE (Accredited Consultant in Real Estate) Designation, you are invited and encouraged to check it out--It is exactly all about changing our industry, transparency, and being valued professionals to our clients, without selling to them, and getting paid for our expertise too!

One of our ACREs is a Stefan Swanepoel fan and has introduced his Trends to our online group--which is what led me to find *this* group/blog! Thank you Stefan!!

Visit: www.myreconsultants.com/DenyceThomas/Index.html

Visit: www.theconsultingtimes.com

If anyone here is interested in the ACRE program, I have a $coupon code that I can offer you too!

Denyce Thomas, Las Vegas PS I'm subscribing to the newsletter too!

P.S. Trends Report just ordered off RealtyU also!

Denyce Thomas-Las Vegas

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