Recently I read an excellent commentary in RisMedia by Tami Bonnell, president of the U.S. Organization for EXIT Realty Corp, on the Real Estate of the Future. She said, "As I see it, there are three words that come to mind as we move into the future of real estate." These were Lean, Clean, and Green.
She challenged me to look at my own real estate practice and - while it's a bit early - make my new year's resolutions to insure I do business as she suggests.
1. Lean - this isn't just about the belt-tightening most of us have had to do. The focus here should be on finding a niche I can fill better than anyone else, based on my market area, my demographics, and the types of real estate investments available. Yes, I need to make sure the money I spend on my business will bring a return, and will help me to better serve that niche.
But I also feel this idea is about making my own future, and insuring a long-term return as a professional realtor. Ms. Bonnell states, "The good businesspeople are going to track results for all their marketing efforts and systems to ensure a good return. The professionals who wish to retire want to save for that opportunity and they also want a good quality of life so they will be selective with their time...Moving forward, you will have to be a consummate professional."
2. Clean - quoting Ms. Bonnell, "There has never been a more important time to be aware of what is being said about you and who you associate with...the consumer has two things they are concerned with: a way to look up all you do and who you work with [because of] mistrust due to the ones that made mistakes and the perception in the media."
We as Realtors cannot deny that many in our industry put greed before service in the most recent boomtime. So we now cannot criticize the public for their mistrust. Utilizing technology in order to be aware of what is being said about us collectively and individually is crucial.
She suggests, "get a Gmail account and then sign up for Google alerts to make yourself aware of what is being said about you, the people you work with and everyone real estate related that you do business with. Be proactive in showing what you do for this industry and your community. Get involved and help change the way the real estate industry and its professionals are perceived. Stay on top of local impressions as well-ask on a regular basis what the consumer and industry want...and provide it."
These actions tie directly back to #1 - professionalism, "on and off the court."
3. Green - hardly any Realtor selling today can deny the strength of the green movement - not just in housing, but government, consumer trends, and individual lifestyle changes. Almost every consumer now demands that everyone they do business with be more conscientious about the environment, both within a company and through their representatives.
Again, this relates to #1, being lean - how environmentally friendly is your office? Are there steps you can take to use less paper and become more of an e-business? I know there are ways I haven't utilized which are on my resolution list for 2010. Being greener also means being more efficient, and setting a model for your office and clients.
These 3 ideas are not revolutionary, but taken together - and implemented - can be a powerful force for good in our communities, and more professionalism in our services. Let's see if we can focus on making changes and becoming leaders in 2010.
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