Are Real Estate Offices going to go the way of land line phones? With many families adopting a new austerity plan, dropping many if not all the services provided by their local home phone provider. We all have cell phones and office lines, who needs hard lines at home? Further evidence of this phenomenon are the young buyers and tenants I work with, when its time to change over utilities, they often opt-out of a local phone plan altogether.

 

How Many of you still rely on walk-ins for a portion of your income? I still find enough off the street traffic to justify a main street office. But I am increasingly sharing my commission with buyer agents that have no physical office. They have an excellent web-based service, and in affect are simply advertise my listings to drive buyers to them for inquiries.

 

If you don’t need a physical location or land lines anymore how long will it be before Realtors are unnecessary? What if we all decided to be buyer agents and close our offices…if we all decide to eliminate our overhead whose listing we will sell? The New Technology is great but selling homes can’t be shipped overseas (I’m in for the long run).

 

Reservation services are being chipped away, owners are booking on-line and changing locks to no-hard-key pads. Vacation homes needed rental service companies to complete the reservation between owner and tenant. Now owners use Cyber rental, VRBO, or Craig’s list, and have a cleaning service go in after the check out. The middle-man is out, and the service business suffers…the same way the home land line is going.

 

In the 1950 census the number one occupation was Farmer, in 2006 it was salesmen. We don’t make anything anymore…we just tack on our fee, repackage it and re-sell it, how are we going to stay ahead of the technology we created to make our jobs easier, from eliminate the need for us?

 

Every market may be local, but you had better be very good at what you do and what you offer or some software program is going to eliminate the need for your position. Who is a bit concerned, that we created our own monster…the machine built to help may be our very own Terminator in the end.

 

 

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79 Comments on Real Estate Technology...or Terminator in waiting?

20 Most Recent Comments Displayed Show All

DEC
01
2009
759,094 Points 105 Featured Posts Outside Blog Called Shot Master

If what you are saying was true, we'd see more people using limited service real estate companies.  I don't see many, if any, of those here.  At the end of the day, people still want to go see a property before making an offer.  Someone has to show them that property so I think we're here to stay.
10:59pm • #60
520,070 Points 25 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Steve,

It is true instead of exporting we import the trade imbalance is scary.  We have become a service society that does not manufacture anything anymore.
11:24pm • #61

Wow.  Loved the Farmer vs Salesmen stat.  That was great
11:25pm • #62
448,095 Points 27 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

Steve - I believe real estate in the midst of all the technology, tools and gadgets will always be a people to people business.  We are a service oriented business and while there may be some aspects of what we do that can be outsourced or automated, there are too many other facets of what we do that require that "personal" touch. 
11:43pm • #63
DEC
02
2009
451,081 Points 64 Featured Posts Localism Sponsor Outside Blog Called Shot Master

I would say that walk in traffic has all but disappeared.  As we no longer control "The book" which was the incentive for people to visit a Real Estate office, the easy of shopping from your computer screen as replaced the need to actually go to a Real Estate office.  There are many offices which have closed locally in my Market including two of the larger firms.

Upon a recent visit to drop off a contract, with another huge "Brand" I noticed the bull pen was empty. This huge office had a total of 3 people doing administrative work. That is a lot of overhead to convey an "image".  It was eerie.

Are Real Estate offices a thing of the past?  Perhaps more a victim of the lacklustre market and economy as well as the trend to seek what you need and want online.

 
4:23am • #64
125,787 Points

Just went back to brick and mortar after spending a year with a virtual office. I have found that many folks still want the "feel" of something more than meeting at a starbucks

have a great day

tony
5:56am • #65
1,096,826 Points 25 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Steve, we still get walkins in my office. I go in when I have floor duty, but most of my work I do at my home office.
6:03am • #66
800,596 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Tony, Thant is my feeling too, a office of some kind lowers the perception that your operating out a car, and that this is a legitimate enterprise.
6:51am • #67
800,596 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Rebecca, I think the simple approach is the best, a floor schedule in a physical office instills confidence in a agency, gives agents the flexibility they need and allows new agents to pick up clients and learn the ropes under the supervision of their broker.
6:54am • #68
196,111 Points 34 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I think we all need to adapt and evolve with the changes in technology. As long as we're willing to learn and change we won't be left behind.

www.cflinvestmenthomes.com
8:07am • #69
800,596 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Nathan, Technology is our friend as long as we don't rely on it too heavily, I still believe in personal contact above all.
8:14am • #70
250,505 Points 8 Featured Posts Localism Sponsor Outside Blog

I have tried having no outside office at all, and found it as hard to do as going without a land line at my house. Both seemed like good ideas until somebody wants to meet me from out of town and can't get5 to my house, or DSL company refuses to give you internet without a phone line.
8:49am • #71
392,434 Points 12 Featured Posts Localism Sponsor Hit Router Called Shot Master

Steve, you are definitely on the right career track!  Thanks for an exciting post.
9:01am • #72
1 Featured Post Outside Blog

Steve,  I like this post - very thought-provoking.  Lucky for us, buying a home is a human emotional process that will always be in need of good negotiators.
9:42am • #73
800,596 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Dianne, I totally agree...and people don't purchase property every day so working with an agent with thousands of closed sales behind them is a calming affect for sure.
9:53am • #74
1,351,014 Points 41 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I'm not sure that you need a physical location to sell listings any more than you do as a buyers' agent.

I also believe that a good agent will continue to add value to their clients with their knowledge and ability to help their clients through the process.
1:48pm • #75
DEC
03
2009
356,410 Points 27 Featured Posts Attended Rain Camp Called Shot Master

I think you're on the right track. I don't see how any real estate franchise is going to be able to afford an office in the future. Right now, I work out of my condo... But, I'm on the web, so I'm everywhere.
4:49am • #76
1,388,799 Points 27 Featured Posts Hit Router Called Shot Master

Steve, the world is definitely changing.  I don't know what will happen, but I wouldn't count the traditional agencies out as the good ones will adapt and take advantage of new technology.  Thanks for the great post.
6:54am • #77
800,596 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Rene'  Please don't take offense to this, but a social media marketing company (such as yourself) is not the same as a main street office whose job it is to sell properties for sellers looking for a legitimate office location. Buyer agents working from home is a fine business plan.
7:37am • #78
800,596 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Gabe, I'm ready to adapt and evolve...but not throw my hands up and quit (but if the rest of you want to quit  I'll be happy to take care of your clients...I have time).
7:41am • #79

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Steve Loynd/ 800-926-5653, White Mountains NH

Lincoln, NH

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Steve Loynd, Alpine Lakes Real Estate Inc., Loon Mt, NH.

Address: 7 Linwood Plaza, Box 1135, Lincoln, NH, 03251

Office Phone: (800) 926-5653 x 11

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