This last year has been an amazing one.  I knew that the market and the rules would be changing.  Changes would be coming and they would be dramatic.  Those expecting them are not disappointed.  Those doing business the same way they did in years past are probably not doing so well or may have already left the business.

In my market, sales activity has cooled over the record sales volume of a couple years ago.  Sellers are seeing homes sit on the market for months instead of days.  They are looking for the best agent they can find and no longer just looking for the cheapest.  Buyers are on the internet and loaded with data.  They have a better knowledge of the market and the numbers.  They are also prescreening agents online before contacting them.  Real estate agents without a strong internet presence can't are not doing so well these days.

We went from having a website to have a blog like on Active Rain to now being on social networks and having multiple websites with IDX engines and multiple blogs.  Our listings a few years ago were posted on the MLS.  Today we post them on dozens of websites, have virtual tours and create a website for each and every listing with its own domain name.

Listing presentations went from tax records and comparable sales to now adding satellite photos, demographics, maps, charts, detailed marketing plans and computer demonstrations.  In this information age what we did a couple of years ago is no longer even the bare minimum.  You need to take it to a much higher level and you need to incorporate technology.

You also need to take your personal marketing to a much higher level.  Clients are looking at your personal marketing.  If you are not doing a good job of that, what message are you sending about the kind of job you will do for them?  Many of the new clients I picked up the last two years specifically mentioned my personal marketing as a reason.

Clients are looking at your bio.  Have you invested in your career?  Do you have professional development and designations?  I hear the argument that those are just alphabets and the public has no idea what they are.  WRONG!  They are on the internet and they are reading.  Even if they do not know what they mean, they know they need them.  While taking a class a couple of years ago the instructor made that very point.  When he had to have oral surgery, he had no idea what the designations after his surgeons name were; he just knew he needed them.  He did not want the surgeon without them.  I am sure in today's world he will GoogleTM them.

So if you do not feel the need to utilize technology in your real estate business, not to worry.  The world need ditch diggers.  If you are looking to buy or sell residential real estate in Hawaii, please check me out.  You will receive the VIP treatment.

I have to run.  I am meeting today with a new client who met me through my website:  www.HawaiiRandy.com

 
This post has been included in Hawaii Information Honolulu County, HI Information
Post is included in group: Realtors®
Post is included in group: Rainmaking - Internet Marketing Strategies
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17 Comments on The Real Estate Business is Changing Are You?

APR
05
3 Featured Posts

Randy - Amen to all of that! I am amazed that there are still agents who don't have a website, don't post property photos online, etc., etc. If they don't market themselves, how will they market their clients properties?

1:55pm • #1
581,976 Points 62 Featured Posts Outside Blog

Randy, the world has changed and the customer with the Internet is much more information age savvy.

2:13pm • #2
595,160 Points 111 Featured Posts Localism Sponsor Outside Blog

And to think....that some think taking one picture or utilizing the one picture mls has for the property is doing the best job for their seller?

Real Estate is an ever changing market...we change as it changes.

You're doing well this first quarter!

2:27pm • #3
136,366 Points 2 Featured Posts Outside Blog

Randy, great info. Real estate is a changing industry. If we want to survive we have to adapt.

3:05pm • #4
832,084 Points 213 Featured Posts Localism Sponsor Outside Blog Hit Router

Sure it's harder today than a couple of years ago.  Of course that was before the Wall Street gangs killed the real estate industry and our economy. 

Now that the government has given them all of our money, perhaps they'll fix things.

3:22pm • #5
408,296 Points 74 Featured Posts Outside Blog

Randy,

Everything is harder now than years ago...that's seems to be the same with everything...maybe because it's hard t trust people with the way the world is now and so much new technology it's hard for everyone to keep up.

3:56pm • #6
676,533 Points 145 Featured Posts Localism Sponsor Outside Blog Hit Router

Randy - it is a time of constant change, for us and for consumers. Agents these days really need to know what consumers are looking at on-line and how they are using the Internet, otherwise we cannot hope to be competitive. The challengeis to find what things are most effective, from a marketing perspective but also cost-wisse.  We also need to look at the ROT (and ROI), or Return on Time, coined by, I believe, Bernice Ross.

Jeff

4:53pm • #7
399,403 Points 3 Featured Posts Outside Blog

Even in good times things change, and if we don't roll with the punches we will be left behind!

Good to hear from you again!

4:59pm • #8
466,552 Points 54 Featured Posts Outside Blog

Randy, I have been in sales for about 34 years, and part of doing business is constantly following your market and where your business is coming from.  Times change, people change, business change, and we need to make the necessary adjustments, or wake-up one day wondering where it all went.   Hummmm sounds like a blog idea :)

6:34pm • #9
600,535 Points 34 Featured Posts Outside Blog Hit Router

There are people in my classes who stare at me blankly when I talk about the internet, lead generating, and social networking... it amazes me!

7:52pm • #10
143,240 Points 2 Featured Posts Localism Sponsor Outside Blog Hit Router

Those unwilling to learn and change will eventually find themselves losing business to those using the internet. 

9:10pm • #11
APR
06
486,435 Points 84 Featured Posts Localism Sponsor Outside Blog Hit Router

Mike - There are so many agents without even a website.  I even hruyn into some who still hand write contracts.

Gary - Almost all of my clients are quite internet savvy.

Sally - There are many who never load a picture.

6:16pm • #12
486,435 Points 84 Featured Posts Localism Sponsor Outside Blog Hit Router

Tanya - That is if we want to survive.

Lenn - They will spend our money anyway.  Whether they fix anything is yet to be determined.

Neal - I think even harder than keeping up us dealing with the information overload.

6:19pm • #13
486,435 Points 84 Featured Posts Localism Sponsor Outside Blog Hit Router

Jeff - I think for me the Return on Time is the critical one.

William - You are so right.  I have not been on here as much.  Fortunately I have been busy.

George - I like the statement the change is not good or bad, it is reality.

6:22pm • #14
486,435 Points 84 Featured Posts Localism Sponsor Outside Blog Hit Router

Donna - There are people in my office that do the same thing.

Irene - They may not just be losing business, but they are also missing a lot of new business.

6:32pm • #15
APR
08
1 Featured Post Localism Sponsor

Randy, You are so right we are now a open book. People will research us and learn all they can to make sure they are hiring the very best.

12:20am • #16
486,435 Points 84 Featured Posts Localism Sponsor Outside Blog Hit Router

Marie - I think it is a good thing in many ways.  I find that new clients are easier to work with being they have already decided they want to work with me in most cases.

2:23am • #17

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Randy L. Prothero - Hawaii REALTOR®

Mililani, HI

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Century 21 Liberty Homes

Address: 95-221 Kipapa Dr., Mililani, HI, 96789

Cell Phone: (808) 384-5645

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