I just read a blog where the agent proudly stated he sold a home without ever meeting the clients. Boy, did the agents love that one! They congratulated him on using technology, on getting the sale wrapped up without showing the home--on and on. The guy stated that this was the future of real estate. Don't get all huffy, here. It's terrific when someone demonstrates virtuoso skills at anything. (Okay. My dad could wiggle his ears withint moving his face....). But, let's just think about that a little bit.....
It reminded me of when I was a little kid, and my 2 rambumptious boy cousins had this game where they would see if they could circle their living room without ever touching the floor. They thought it was the thing to do......but I'm afraid the real world didn't think they were socially acceptable! (and their mother had a fit!). The point is that it's easy to go off in one direction, especially when we don't have a lot of tech skills--or we're not very comfortable with people, or, we waste too much time with the wrong people. Technology can look like the answer to our prayers.
Will Technology Replace the Human Interaction and Relationship?
Yes, it's true that
- Technology has a greater role than ever before in marketing and processing the transaction
- Agents must get to a certain level of technology proficiency to take advantage of these tools
The Danger of 'Hands Off'--and Why Some Agents are More Comfortable 'Hands Off
I found a cartoon I use frequently in teaching. It says, "I love houses. I just hate people." For those agents who really don't want to form relationships, technology provides a new way to have 'hands off'. Here's the question those who want to rely solely on technology need to ask themselves:
Do you want your commissions to be 'generous' or do you want to settle for dwindling commissions?
I learned as a CRB (Certified Real Estate Broker) instructor, that there is only one thing that's not cloneable--the people. (I learned that as a musician, too. Player pianos just don't sound like the real thing, if you know what I mean). If you want to earn the highest commissions, you must provide awesome value that a computer/technology can't provide--everything that goes into the professional YOU, Inc. That means you must
- Form a trustworthy relationship as soon as possible to replace the 'cold communication' of technology
- Spend time with a buyer or a seller so they will know you're not just after the $$$
- And, most important of all, keep nurturing that relationship long after the sale (it costs 6-9 times more to get a new customer than to keep an old one)
- Prove you are worth way more than the money you charge (hint, hint--just using technology is a tough way to try to prove value-added)
The problem is that technology is easy to copy. Once people learn to use technology, it is not a very valuable skill (look at all the call centers that have gone to India, for example. Look at all the tech companies that are in India. We can't compete in the U. S., because our labor costs are too high).
The Next Big Thing--Who Will Make the Most Money?
Daniel Pink, author of the awesome book, A Whole New Mind, says that making bundles of money in technology is so over. His sub-title of his book is Why Right-Brainers will Rule the Future. He states that technology is easily duplicated, that technology workers are not relatively valuable, and that the most valuable 'commodity' next is YOU--the creative, empathetic, professional YOU. Why? There is only one YOU.
The trick: Developing the best YOU that can be. Read Pink's book, where he gives a specific real estate example of how an agent broke out of the normal, mundane same old marketing ploys and, instead, created trustworthy messages that conveyed a very different kind of value system to buyers and sellers. (Wouldn't it be stunning to create a new mind-set about how real estate professionals are viewed?)
If You Don't Like the Word 'Salesperson'
A friend of mine just did a survey of agents he was teaching. He asked them whether they identified themselves as a 'salesperson'. The majority said they did not. I know this is the case, because, when I was a VP of Development at a major franchise, the agents insisted on putting things on their cards like "Senior Consultant". (I know you'll hate me for that, too, but, in truth, we sell real estate). They just didn't want to fess up they were salespeople.
Having worked with behavioral profiles as a coach for over 2 decades (like the DISC, for example), I know that certain people love technology and don't feel very comfortable creating deep relationships with people. Those are generally the ones that shy away from the word 'sales' in any form. That's okay. But, don't get pulled into a vortex of believing that selling real estate is not selling real estate. There are specific communication skills we need to hone to relate in a meaningful way to our clients (if we want to preserve those generous commissions). These communication skills are the most important skills we can demonstrate, because they set us apart from what technology can do. (Have you noticed that the real estate companies that lead with the statement 'we are a technology company that happens to sell real estate' charge a different commission structure than the 'full service' company?) Nothing wrong with that--just pointing it out.
The Best of Both Worlds
I'm reading another great new book, Outliers, by Malcolm Gladwell. (He wrote The Tipping Point and Blink). Gladwell studied those who did really, really well in life. Here's what he found:
- They had to have a sufficient amount of talent and IQ--but high IQ was not necessarily a predictor of success (Einstein's IQ was 150, and there are lots of smarter people in the world who didn't attain what Einstein attained)
- They had to have some opportunities (Bill Gates and Paul Allen had the opportunity in high school to work in labs with the newest type of computers, therefore getting a head start on others)
- The biggest determinant of big success in those he studied was that they spent lots and lots of time practicing, perfecting, and performing whatever it was they did (he sites the Beatles' experience of playing 8-hour gigs in Hamburg as a huge turning point in their development because it forced them to greatly increase their repertoire and their technique)
So, the point is, get really, really good at what matters. (and we each have to figure out what really matters.....) There is no short-cut to success, whether it's playing music, basketball--or selling houses. The good news is that the client is looking for people like you who use technology to support long-term, trusting relationships.
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