The real state industry has undergone tremendous change in the past couple of years. The problem is, most industry practitioners don't know it!
Reasons for Change
The industry has changed more dramatically than in the past due to the convergence of several significant trends and changes that together have revolutionized not only real estate but nearly all consumer-facing inductries:
· Instant Communications - voice, email, text, instant messaging, etc.
· The Great Opening of Data Sources - listings online in hundreds of sites
· Consumer Education - learn all about any topic through simple searching - including real estate transactions
· Tightening Market Conditions - fosters price and fee competition
· Over-abundance of practitioners - the shrinking market did not yet produce fewer real estate licensees. . . note the use of "yet."
Assembly Line Real Estate
This amazing convergence has triggered, among other things, a feeding frenzy that is characterized by a rapid increase in "free" services and discounting of commissions in a competitive dance. Sadly, however, this has also triggered a trend toward "assembly line" real estate. Many companies offer rebates if you are willing to take on the bulk of the work yourselves. Some just flat-out discount. They usually rely on the discount to be their marketing plan, and never give a thought to the quality of their work. It seems almost like they are thinking :"well, you get what you pay for."
A New Paradigm in Real Estate
Now, there is a movement on that will revolutionize how consumers and brokers work together for mutual benefit. It is the relatively new and exciting Real Estate Consulting model. Of course, the label has already been misused and overused. Nearly every town today has a number of traditional real estate licensees and brokers who call themselves "consultants" when in reality they are little more than traditional contingency-fee based agents. Click to continue
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