Monika, expertly and adroitly communicated! It's not whether the model is "broke" and don't fix it, but break it and create several different solutions.

The agents that survive the paradigm shift will do so on ingenuity and creativity, not so much signing up for the new tools -- finding novel applications to use them!

Hi Monika-great post and oh so true...you better be up to date..current with modern methods.  I feel fortunate to grasp web 2.0 still have lots to learn its ever changing...but I suppose it goes with our ever changing market.

Great post Monika.  I made that Paradigm shift in 1995 and never looked back. 

Now, I just keep up.

Lenn

Good read. Thanks.

Monika - You did a nice job of documenting the changes in the real estate market.  I was on the Internet when I first found my agent who helped us relocate.  I ended up working for her.  Perhaps, it is due to my legal/mediation background, but I always have been consumer centric -- I earned the C-Crec designation with Julie Garton-Good, long before NAR even got it.  I know you were also one of those pioneers.  I am running to catch up with web 2.0 and blogging.  However, I already have seen the benefits.  I hope those who should not be in the business will find something else to do -- however, that is probably wishful thinking.

Monika: I am thrilled with the new "paradigm shift!"  I think it is a major step forward in the evolution of the real estate agent. We are truly seeing an age of "survival of the fittest," and I plan on being one of the fittest. (Now, if I could just apply that paradigm shift to my PHYSICAL fitness!!)

Web 3.0 is here and I wonder how many of us see it.

I agree.  It's a great post, and it's hard to communicate to "older" folks sometimes that many people prefer to shop online.

Monika - You definately documented the changes that have been happening. Those who want to survive have to watch the market and continue to adapt.

Monika,

The real estate and mortgage markets change continuously, sometimes a little at a time and sometimes, like lately, a lot. If we want to stay with it and prosper, we have to change, too. That's the only way. Good post.

Moni - if anyone saw the shift coming it WAS you and Jay. I don't know how you keep up with all you have going on online. Not only did you see it coming and adjust...you made sure you left a path for others to follow. That's a true sign of being a leader!

Monika - it's amazing to me how many sellers (and buyers) don't research their agent, don't ask specific questions before hiring an agent. It certainly isn't about age, nor is it about years in the business. If you get a schmuck, and you didn't do your due diligence, you deserve the schmuck.

Monika, our industry changes so much and I am still amazed how many refuse to change.  I have seasoned agents ask me about the market and they have the same information available to them as I.  Great post.

Hi Monika - I know some of those very agents you mentioned with all those designations and being clueless.  I would imagine it would be very difficult for consumers to figure out who really is on their game these days, unless they do what you suggested.

Jay - 3.0?  Nah, I'm on to 5.0........    ;-)

Monika you did a great job in this post, laying out how things have progessed - interesting read!

Ann

Thanks Ann! Web 5.0 oh my we better hurry and catch up!

Ray...The old school just does not see the changes...probably not until it knocks them over.

Sharon..I love it "If you get a schmuck, and you didn't do your due diligence, you deserve the schmuck"... how very true! 

Linda...Thank you!! You are so sweet!

Esko..You have that right!

Thank you Pam I live through it before.

Melina...Even some younger ones don't get it.

Kim..LOL I'd like to apply to Physical fitness too!!!

Joan.. I think we'll see a big REATOR fall out. The big money is no longer there or at least it is no longer easy...many will leave for greener pastures.

Drew and Christine...Thank you for commenting.

Lenn...Keeping up is veru good. I think having lived through it before will help us for sure.

Andrew... Thank you and you are so right. Finding new tools and using them will make all the difference.

Midori...Yes it sure is ever changing! Keeping up is key! Thank you for commenting

Monika, business is in a constant frame of change, and we have to be on top of those changes so that we can make the necessary adjustments to keep up with them.  If we don't we will wake up one morning and wonder "Who Moved My Cheese", when it was disappearing long before we noticed that it was all gone.

I made the statement to agents in my office that websites as we know them are becoming obsolete.  With blogs and other tools available sites need to be so much more than just an ad on a single page.  The sad part is that over half the agents I said that to do not even own a domain name or even have a basic web page.

Hi Monika,

There are so many "experienced" agents who are missing out on the basics, I often wonder how long they can keep up....

Beuatifully written and though the majority of agents in Hawaii are not internet literate....or even email literate (OMG) they ARE clueless to what is working and what is not. I say this post is straightforward...what the consumer needs to look at for an experienced agent in a 'shifting' local market.

The one constant in our world is change.  Everything is changing all of the time.  Sometimes change starts with a barely perceptible shift in the way things are done, barely noticed by many.  While only a small percentage of us have embraced the internet and know this is the wave to ride, the direction to take our business in, there are already changes happening here in our new world.  I often wonder how many of our ranks recognize the changes happening right here in our 2.0 world.  I also wonder how many will embrace these changes.

Sometimes I step back and watch our industry purge itself.  That is what is happening you know.  The resistance to change combined with the fear of the unknown is crippling many of the ranks in the real estate industry.  It's not just at the agent level.  We, the 2.0 world, have changed so many facets of our industry that large vendors are showing signs of eminent collapse as we demand better services that actually work for us and refuse to continue with their outdated and useless products.  We have discovered our "voice" and combined our voice is quite loud.  

Brian Brady and I had a conversation a while back;  we discussed the gap that entering the 2.0 world has bridged.  Before blogging and social networking agents across the nation rarely connected, heads of major corporations were untouchable icons and large companies were our drug dealers without which we thought we couldn't survive.  None of this is true any longer.  Anybody who is out of reach is out of touch and dooming themselves to inevitable failure.  We live in an interactive world in which everybody is expected to participate. 

What is different?  We have engaged and connected directly with the consumer eradicating the need for many of the middlemen in business's previously used to fleece us of our hard earned income.   Liberating Huh?!?  

Todays Real Estate Rock Stars are Realtors, not vendors.   

This is a truly excellent article Monika.  

Monika, I had to come back by and say "Congratulations!" on your very well deserved feature. This is an outstanding post!  And, I agree with Laurie...the Real Estate Rock Stars definitely are the REALTORS.

Hello Monica,

Well put.  2.0 is here and almost gone.  3.0 is here and the shift continues to happen.  Ultimately, every real estate agent will be in need of the hands on training to help them with the shift.  In order to get the message to and from our clients we must continue learning.  Education is key, technology is the doorway.

Have a great year Monica.

Shucks.  If the consumer is concerned about the price of gasoline, they can let us drive them around.  We're happy to do so.

Thanks so much for the feature!

Lenn... LOL I'm more than happy to put them in my car. 

Frank... I agree the shift continues. Change happens and lets hope all of us can continue to see it.

Thank you Linda!!! 

Laurie...Thank you!  Your statement "I often wonder how many of our ranks recognize the changes happening right here in our 2.0 world.  I also wonder how many will embrace these changes." is something I've been thinking about as well. I just hope that we in the RE.net world continue to share and help each other grow and see those changes. I know I have learned so much from people like you who always share your knowledge and skills. Thank you Laurie!

George...I feel bad for all those who will wake up and start looking for their cheese! Thank you George great points.

Randy...That always amazes me...What does it cost to buy a domain name...like under 8.00 bucks a year?? 

Suzanne...It's more than agents...office managers and brokers are trying to figure out what happened... never mind try and keep up.

Sally...You are s right! the consumer really needs to do some research! 

Thank you all for your great comments! 

Monika - congrats on the feature - this post deserves that!

Laurie - what an AWESOME comment, and so very true.  Your statement, "We have engaged and connected directly with the consumer eradicating the need for many of the middlemen in business's previously used to fleece us of our hard earned income.   Liberating Huh?!?", is so very true and so cool that we can now say that and mean it.  LIBERATING?  YOU BET IT IS!!!  Those middle people should never have been there, but they found their way there because we had an opening, and now those ahead of the majority have really begun closing it tightly - yay!!

Ann

This is very true, but only part of the real shift created by internet technology: the shift of control of distribution of listings: once contralled by the MLS boards, in some areas where my clients are, as many as 60% have opted out of their local, antiquated, outdated MLS.  The biggest shift ever: from distribution to content origination.

If I have a listing, or just know how to distribute one, I can do so withuot the help of the MLS.  By the time everyvody wakes up, it will be a very different world indeed, where quality of data and service out-flanks politics and distribution assets: namely, the main-stream media and the MLS's!

Monika - You described my experiences in real estate perfectly, although I didn't start in real estate until 1991 the rest is very similar!  There is a small percentage of those in our business who keep up with the changes, especially the big ones like technology. I truly feel badly for home buyers and sellers looking for an agent...what are the odds of them finding the really good ones?  The one thing I am unwilling to change is working with or creating a team.  I still value my relationships with my clients.  Everyone seems to feel that teams are the way of the future.  What are your thoughts on this?

OOPs, didn"t add my name on the last comment about the MLS, I am Israel Rothman, socialmediasystems.com, we turn "I am a realtor too" sites into interactive social media communities.  My active rain group has hundreds of mambers, Social Media Web2.0

Ann....Laurie is a Rock Star!!! It is very Liberating!

No name... Thanks for your comment. Our MLS in NH is open but I think we'll see major MLS shake outs as the outdated systems get left behind! It will be interesting to watch and I for one am looking forward to the shake up! 

Diane...I feel bad for buyers and sellers as well. It is so easy to fall for the "talk"...frustrating for those of us that see it.  I work as a team with my hubby...I know it's not a team in the conventional sense.  My whole office is my team really.

Thanks Israel!

Monika, change is inevitable, it is happening all the time. Sometimes, I find it hard to keep up. I'm always being led to sites, I've never seen before and meeting great people on twitter. Love those twitter feeds! I guess I'm addicted to not wanting to miss out on the next big thing. Some interesting things going on with mashups. Congratulations on the little star...well deserved.

Monika - Excellent post, it is sad to see some agents who really know the business not embracing the new tools and will be left behind.  Many of the younger buyers if they can't find you in google they move on.

Adapt or Die, that's my mentality.  Very well put, your perspective is that of success Monika.

Excellent post about paradigm shift Moni!  I think it will become more and more common for a client to google a name so it was a great suggestion!

Monika there xertainly has been a shift. If you don't have an online presence you will be left in the dust! I have not used print media in over two years. Blogging, a website with Google rank, and social marketing are all very important. I have been using the suggestion in my marketing material to "google" the agents you are interviewing...it eliminates much of the competition immediatly.

We have one realtor in the area who doesn't have email or an answering machine and she does well.  I have no idea how, but good for her.  Me, on the other hand, am all web-based.

You are right it doesn't matter how young or old you are, nor does it matter how many years of experience you have, what matters is if you are response to their questions and can get the job done.  Just like other industries that have had to adapt to the change in consumer behavoir so has real estate.  We have held on way to long to the "old" way of doing things!

It sure has been a shift... I can't wait for it to keep shifting further... I'll be writing a post about that later...  It's actually why I logged in.

Monika, great article. You are right on that the market always changes.  To stay with or ahead of the market you have to make that paradigm shift in how you do your sales: from how to generate leads, contact leads, present your close, etc.  I still think that there has to be a human element to back up your systems. AJ

Monika,

Being nimble and able to adapt is the new 2.0-step!

Steve

Moni _ {Bob here} We certainly agree with your blog. We are constantly telling potential clients to google us. Even though we have a lot of competition in this area we are still very prevalent on the web thanks of course to in part Active Rain. We probably wouldn't be with out it. Congrats on the feature.

Thank you Missy...it is hard to keep up with all the different sites and such. I do love twitter now that I have the hang of it. Sometimes you hear things there 1st.

Jennifer ...you are right they do just move on! 

Jason...Adapt or Die... I'm with you there. 

Renee...I hear it all the time "I googled you"  so I know it's happening.

Bill...I use Google as my living resume... it works.  

Cree...there will always be those who succeed without it. They have a huge loyal SOI.

Cindy...The old ways are broke...time to throw them away and go on to some new ways. 

Lane...I'll keep my eye out for your post.  

Alan...It has to be a balance. A little of both will make a big difference.

Steve...Being nimble and be able to adapt is what it's all about. 

Hi Bob...Thank you! hope you guys are doing well. Say hi to Lisa. 

As a newbie to this site, i was impressed with your blog, ...your witticisms, your knowledge, your energy!  Loved it!  Thank you!

Liz Moras

Re/Max Nyda Realty

Chilliwack, B.C.

lizmoras@shaw.ca

www.lizmoras.com

As you've so nicely put Monika (with a K!), the old ways of doing things are changing and as one of my favorite 70-80's bands REO Speedwagon says, "you gotta roll with the changes... keep on rollin'!"

Congrats on your feature too!

Even though I didnt experience it first hand it was interesting to read how the industry has changed and CONTINUES to change... we all need to constantly keep up with the changes!  For some of us, it is all we know!  Congrats on your feature!

Monika, Excellent post. I have only been in real estate 7 years and I have seen a major shift since I started. I've learned so much from activerain it's like we're a new breed of agents. I'm fortunate my broker understands the internet too they even hired a cheif technologist.

I agree, it doesn't matter how old or young you are.....it's whether or not you can adapt to new technology changes.

Having been a Realtor for nineteen years, it has been interesting watching the change between 40 looseleaf MLS notebooks in our office (one for each town) where if someone made a photocopy of a listing and forgot to put the listing back, it was gone forever.  To MLS books published every week to the current MLS system and supra lockboxes versus the old combos.  Change is constant.

Monika - you've hit it on the head. It's not a case of Who Moved My Cheese? it's a case of Gee, my cheese is going to be moving, so where shall I take it?

Congratulations, Monika on yet another well deserved featured post. I just "googled" you. Impressive! Here are your results:

Monika, you hit the nail on the head and make complete sense.  I look forward to learning more from you.

Monika,

Of course this is RE's hot topic right now, and reminds me of Heidi Klum's Project Runways line, "You're either in--or you're out."

You've done a wonderful job with this summation!

All the best,

Audrey 

Monica- i came to your site from Laurie Manny's page and am happy to have done so. I like that you name what's happening. Several of us have been talking about the shift in the market. I never thought of the shift as a change in the way we do business, but it is also that.

I have not been in business as long as you have and have not personally experienced all the shifts as you described them but certainly observed them. ( I know that is not the same as experiencing them.) I would like to add that the reason some of us decided to join the ranks of the veterans is precisely because we observed a paradigm shift and thought it would be a better fit than the old way of doing business.

 I appreciate your global view of the industry and your skill in describing it. Your perspective makes a lot of sense. Of course, understanding recognizing and understanding the shift won't  necessarily guarantee success. What do you think?

I really enjoyed this post, Monica!  Change is not always easy, but necessary to keep up with the times.  We have to be open both to new technologies and also to shifts in our consumers needs and expectations.

Even befoe the LION was coming over the hill we decided it was the way of the future. Good advice.

Good article, funny resmblance to History;  when I began the Real Estate journey in 1979 (built & remodeled houses before) we worked off "Index Cards", then we progressed to this thing called the MLS; then we progressed to some computerology stuff - 80's;  left Real Estate for Appraising and have been with it for over 20 years.

Market changes, I've seen about about 6 strong ones in my time, they're always interesting and always cause change in how you operate your business.  Since getting into the Appraisal side, we see constant change due to the Banking business;  regulation changes / software changes / industry driven changes and so forth.  What I have found most interesting of all, is that we all have different "opinions of value" -the Town Assessor / the Agent who has 9 months into the Listing /  the Buyer who won't pay more than..... / and the Appraiser who has to render the "unbiased" approach, driven by regulation and Law. To say the least, it has been one of the most interesting/challanging fields of work I could have ever selected.  Having an extensive background in; Building / Real Estate / Fire Insurance Loss Work / Well Water Treatment Sysytems work and a myriad of Investment seminar's,  plus a couple of years with Commercial Investment, I still find appraising an interesting field.

If I remeber correctly, the 80's created the ever changing Real Estate market forever; computerology made it happen world wide and the Greedy........we all have opinions about that.

I am also embracing the new and see resistance from those who have been here for years. I noticed a change when I became licensed. I remember sitting in our post-licensing required education. We had a guy who was ahead of the game in internet presence. The table I was at grumbled and complained that they didn't need that junk, they had tried and true. I wonder where they are now?

I worked for an agent while in college when MLS was antiquated with codes and you had to pull out the big books to find lot sizes, school districts, etc. I am so glad to see those days gone and I wish our present MLS would move even further into the "new age" and grasp the tools that are available. I think you do a real disservice to your clients if you don't learn it and put it to use.

I really like your post.  It is funny that some folks seem to relate age to experience or time in business to knowledge.  Sometimes you don't know until you actually do a deal with someone exactly how much they know or don't know.  I also wanted to tell you that I think the internet is a great thing.  Although I'm fairly new to blogging, I've been very involved in the internet for years.  I met my husband on line back in 1996, before the internet dating services were all the rage.  Does that make me an E-Pro?  :-)

Great Post...if we don't keep our heads up to see the changes happening around us we will be left in the dust..SOme brokers are outlawing blogs, and even want approval on individual websites....

We as Agents are responsible for our own destiny, and if the broker is not handing all the great leads out, then we better do what it takes to get our own...I used to work for a broker that claimed to be a non compete broker,....I found out that meant we were not allowed to compete with the company...

The internet and other technology shifts have leveled the playing field for anyone who will take the time to take charge of thier own marketing. Go to your customers, and provide good service...Thats my motto, and we are actively looking for deals that make sense...I see you are too...God Bless..and Good Luck

Great reading!  You hit the nail on the head and I, too, have people tease me about my 'blogging thing.'  If only they knew how much I have learned. Thank you.

Monika,  Great post.  Things are a changing.  Some people just don't get it, yet.  Well, they probably never will. 

Monika,

My daughters name is Monika spelled the same way.

Thanks for the post I did not know about Web 2.0, I was just doing the social networking, I came across all of this by accident and now I'm addicted and I have seen my web site and key words on the first page of Google.

Liz..Thank you and welcome to AR.

Thank you Karen...I haven't thought of REO Speedwagon in years...LOL but I did love that song!

Kim...Real estate has sure come a long way.  

Mitchell...You're lucky that your broker is with you on this. There are many that have no clue. 

Christy....I agree 100% with your statement it is whether or not you can adapt to new technology changes... that really matters and not how young or old you are.

Lisa..OMG how well I remember those days and those books! 

Sharon...Yeah...my cheese is going to be moving, so where shall I take it... How very true!!!

Thank you so much Margaret!!! 

Thank you Greg!

Audrey.."You're either in--or you're out." I love it!!!

Eloise...I'm glad you came over from Laurie's post! It is a big change and we all need to be aware.

Debra... You hit right on...We do have to be Open.

JT...You've been around a long time and yeah I agree...the greedy as well. 

JoEllen...Thank you for stopping by. You do a disservice to your clients if you don't learn it and put it to use.

LOL..Katherine...Yeah an early e-pro for sure!

Mikesee some brokers trying to outlaw blogging or want to approval them.  Just a matter of time.

Susie...My Blogging thing...has really been used against me by many...even my friends.

Thanks Jimmy...I appreciate your comment. 

Hi Jane...It's not often that I see another Monika with a K out there :)

Congrats on the Google ranking! isn't it sweet!

Moni- Very thought provoking.. If there is one thing I have learned after  29 years in RE it's if you don't change you will not stay in business. The changes in the last 5 years have been profound as the internet has taken off.  Yet I am amazed by the number of agents who are still without websites let alone even know what a blog is.  

Over the next few years we will see many agents who came in within the last 5 years leave the business.  Experienced agents who understand how the internet works will be the ones who survive.  What will be interesting in the next turn around is that I don't think it will be as easy for people to jump in and make money.  The nature of our business is changing so quickly that you won't be able to just throw your picture in the paper  and pick up business as many did in the past.  

Monika, I can honestly say I have NOT read any of the comments. You have way too many! However, I did read your article and felt that you said everything I would want to say. Real Estate is changing or at least the way we do business is changing. And our buyers and sellers are changing in their expectations, as it should be. I agree whole heartedly, that those who do not change will be left along the side.

What I love right now is being able to say to Realtor.com, NO THANKS. Today, I had the pleasure of telling Homes.com that I don't need them to put me on the 1st page of google, I'm already on the 1st page for over 35 real estate terms. I got the biggest kick of all when I said to the man from Home.com, "are you by a computer? Type, Sacramento Real Estate. Now who do you see on the 1st page?"

I know that's bad but for years and years I gave and gave and gave for featured listings and featured this and featured that...thank heavens we don't need to pay for pimping any longer.

You got me started...I think I best be quiet now.  Great article

Excellently put .... as always.

Just wanted to say that our offices are all for blogging.  Coldwell Banker recently set up agent space for us to blog on and it gives the Broker / Owners the authority to turn this option on or off for the agents.  Why any Broker/Owner wouldn't want their agents to have this option is beyond me.  If they are afraid of what the agent might say, then maybe they should rethinking having certain agents hang their license with them.

I'm new to Active Rain and I just wanted to say thank you for your insight, your point are well taken.

Monika, first may I congratulate you on your well deserved feature!!! Second, your post is excellent and right on!! I, too, watch the market very carefully, and saw this coming just like it was in the 90's.....that said, our market is picking up - big time!! Finally, the homes are being priced better and the buyers are out looking for a home. It's funny, if you're not involved WITH real estate, the typical buyer or seller has no clue.