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Would You Build It Differently?

By
Real Estate Broker/Owner with Grants Pass, OR 199909023

I read a thought provoking post about the evolution and adaptation of sea turtles.  It was a fascinating piece (Biggest Business Challenge: Escaping the Past) offering a unique perspective about doing business in today's ever changing world. The author asked the following question: 

"If you were to build your company today starting from scratch, for today's environment, would you build it differently?'' 

My answer is a resounding yes!  At the present time, I'm an owner and managing broker of a boutique real estate office in the Pacific Northwest.  Our bricks and mortar building is lovely and provides beautiful office space (with a kitchen to boot) for our agents to meet clients.  That's about to change!

One needn't possess a PhD to understand that technology has dramatically altered the course of our business.  Other industries have been quick to adapt, while our predominantly 50 and older crowd goes kicking and screaming.  I dare say... if we don't wake up and create a proactive approach to accommodating a forwardly mobile consumer, our prehistoric mindset will only perpetuate our self-inflicted path to extinction. 

I expect the usual commentary... 'But Mel, our 'value' as Realtors is substantial. Certainly our clients couldn't possibly transact a real estate deal without us.'  Yada, yada, yada.  I'm sure the mailman and the UPS guy (gender aside) are collectively echoing the same sentiments, while Amazon ponders the use of drones to drop ship packages to doorsteps within 24 hours of ordering. 

Some might say it's a lousy example to compare the real estate industry to the shipping industry.  Perhaps.  However, it would also be a stretch to limit evolutionary change and/or extinction to reptilian sea turtles.  No longer can we rest comfortably on our ancestral laurels, blissfully repeating... They need us... they really need us!  

Should conventional thinking become best practice?  History says no.  Perhaps it's time we do ourselves a flavor (fun/pun intended)... let's step inside our discomfort zone and create original thoughts on how our industry might look differently if we were to build it today.  Whether we like it or not, evolutionary change in business is inevitable.  If we don't build it, some other brain child like Zuckerberg will.  Then what?  

Would You Build It Differently? ~ Melinda (Mel) Peterson

Posted by

Mel Peterson

 Melinda Peterson, ABR, CRS

 Oregon Principal Broker

 Real Estate Cafe LLC

 541-659-1620

 TheOregonDream.com

 

 

Discover Central and Southern Oregon 

Comments (25)

Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I agree with you. But since our industry is not built differently, it should ,at least, be able to adjust to the changes( not just individual agents and brokers, but the whole industry!)

Apr 12, 2014 07:51 AM
Rene Fabre
ARFCO Media - Renton, WA
Practicing Philosophical Eclectic of the Arts

The way I see it is more and more mobile. I work with several brokers here in the Seattle area that meet clients at places like Starbucks etc. and more and more we do mobile signings at places that are convenient to the buyers and sellers out side of our branches. I'm seeing more smaller boutique real estate companies here that have handpicked their talent (no dead weight) and are technology savvy and very locally niche oriented. Most agents around here work from their home office (and are hardly there).  It will change, it is changing. Great post!

Apr 12, 2014 08:33 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Mel- good for you!  You have to be aware of what's going on around you; what technology offers that could change the way you do business; and be willing to make moves that may be tough but in the long run will improve your business, sustain it in down times, and let it continue to grow. 

Apr 12, 2014 08:50 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Life is an evolutionary process.  Survivors know that, and quickly adapt to changing environments to continue on.

Apr 12, 2014 09:06 AM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Mel, I think it's important to do what works, and that may or may not look old school or 22nd century.  I've seen some rather spectacular failures with all kinds of business models, but you never know what works until you try.

Apr 12, 2014 09:21 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

I stop and think about how much the way we do business has changed in just the last decade Mel. And I do wonder what it will be like in another 10 years. Lots of changes have been for the better, allowing us to be more efficient for example. That's change I like.

It's hard to miss the heightened awareness and support for locally owned businesses. It benefits boutique brokerages .. I like to think, I hope, that this trend will continue.

Apr 12, 2014 12:19 PM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

It is important that the industry and the agents evolve.  We need to act like the profeesionals we are trained to be.  We have to show buyers and sellers our value and educate them on the skills and services we bring to the transactions.

Apr 12, 2014 12:21 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

It would be much cheaper and easier to do things the right way first with today's tech. We have learned a lot over time with products such as asbestos which was a great insulator; just a horrible health hazard...

Apr 12, 2014 03:15 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher
Steve Jobs used to say, don't just do it better, do it differently. Love and light, Laura
Apr 12, 2014 04:36 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

There is nothing more enjoyable like a person who knows what they are doing.

 

Apr 12, 2014 10:29 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Mel, this is a very thought provoking post. Ask any travel agent what they are doing now since the Internet took over their business. Is this slowly happening to the real estate industry? It will be interesting to see where this industry is ten years from now.

Apr 12, 2014 11:30 PM
Melinda (Mel) Peterson
Grants Pass, OR - Bend, OR
The Savvy Broker - ABR, CRS

Savvy ones are already doing it... Sarah & Lester ;-)

It's time... even past time... Inna ;-)

Exactly Rene!  I'm surprised Starbucks (or some other coffee mogul genius) hasn't caught wind of this and created a few mini conference rooms that could be rented out by the hour... or half hour ;-)

Ahhh, there's a thought straight out of Disney's recent hit animation... Frozen.  Let it grow!  Love it Kathy!

Indeed Myrl... and the 'others' end up digging for bones ;-)

Ditto Patricia!  You can try and fail... or you can fail to try ;-)

Apr 13, 2014 04:11 AM
Melinda (Mel) Peterson
Grants Pass, OR - Bend, OR
The Savvy Broker - ABR, CRS

Me too Andrea... my head is always spinning with the next 'big' thing that will greatly impact where I go and what I do next.

Apr 13, 2014 04:11 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

I made a few sugggestions in my office but they did not materialize because I do not own it, LOL. For example, I would throw out the bullpen, no private offices, only conference rooms, get rid of the egos and the bottom feeders, go wireless for everything, provide inhouse iPads all around . . . well, can't give away all my good ideas.

Apr 13, 2014 05:48 AM
Donald Hester
NCW Home Inspections, LLC - Wenatchee, WA
NCW Home Inspections, LLC

Mel, This is always the great challenge in any business to see what the future potential is and then modify your strategy to be instep or in-front. If not you will be left behind.

Amazing what a sea turtle can bring to a business model.

Apr 13, 2014 11:44 PM
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-739-3843

Mel, change change change. If you're not evolving you are dying. What is important is that you let us know what changes are on the horizon for your office. We are interested to know!

Apr 14, 2014 10:58 AM
Erin Bates
CMG Financial and Expansion Marketing Services - Aurora, CO

LOVING this post. It is apparent that Realtors are going to become less and less "needed" according to the perspective consumers. And truthfully, that may be partially true. But, I have a feeling that this will NOT mean our group will go extinct, rather we will see survival of the fittest. Only the best of the best will rise to the top and when consumers do realize that having a professional to help them in their transaction IS a MUST, we will be here ready to go! 

Apr 14, 2014 01:37 PM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

At a closing recently, I actually had the seller tell me that he talked to buyer of his home ( she happened to swing by while he was clearing out a garage). The gist of it - she felt that her agent didn't do anything. She found the house on Craigs List and then called him randomly. She inferred the two of them could have worked a better deal.

By the way, her first offer was 30K below where we ended up - imagine if the seller would have reacted emotionally without the insulation from both agents. Her agent did work on her behalf - I can attest to that as the listing agent. It rubbed me the wrong way, but I sense there is a concensus that soon, we may not be needed. How can we ensure our future? That's a very complicated question. But yes, we need to be 'mobile device' friendly to stay in the game.

Apr 16, 2014 02:47 AM
Rob D. Shepherd
RETIRED - Florence, OR
RETIRED

When I approach the boss, I am told" this is the way we have always done it".

Apr 26, 2014 12:18 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Just checking in to see if all is well Mel. It's been about 16 days without your wisdom...

Apr 26, 2014 03:55 AM