The top 5 changes I have observed in real estate

By
Real Estate Agent with RE/MAX Advantage

In my nearly 30 years in the real estate business I have seen the business of selling real esate change dramatically. I have to say that in the past few years I have seen some pretty dramatic changes and below I have listed some of the changes I have seen and what I deemed to be important if Realtors are to not only survive but flourish over the next decade.

1) The internet is here to stay and any Realtor that wants to flourish in the future in real estate must have a strong web presence. I have told many clients that before they hire a Realtor to go to Google and type in the Realtors name. If their Realtors name does not fill up all of page one and most of page two "Run forest run"!

2) No matter how much things change, the basics of business relationships remains the same. People still want to be kept informed and the good old telephone is still one of the best means of doing this. Communicate with clients and keep them informed and you have a client for life.

3) The 80/20 rule is history and has been for years. The ratio is closer to 90/10 in most real state markets across the country. The web has caused this ratio to shrink. In any office USA you can find agents that embrace the web an those that do not. Very few Realtors are truly web savy.

4) More specialization is required more than ever before. This has been verified with the recent surge of short sales and bank owned homes. Those Realtors that have specialized and worked hard at educating themselves have and will continue to out produce their competition.

5) Those that look only in their back yard will never reach their potential. The web has opened up the real estate world.  Walk across the street and ask your competition to give you their trade secrets and they will laugh at you. On the other hand make connections on sites like Active Rain and ask for help from agents hundreds or thousands of miles away and people will reach out to you like you could not imagine. My world changed immensely when I sought help from Active Rain members in 2007 and my sales have skyrocketed in an area where Realtors are struggling today. I have Active Rain and the web to thank for this. Realtors that don't reach out to the world of the web to increase their knowledge and networking are making a HUGE mistake.

I am sure that the next few years will see more changes that could never have been imagined, especially with technology and how we gather and disseminate information. It is an exciting time to be in the real estate profession and in my humble opinion the gap between the truly succesful Realtor and the average Realtor will continue to spread.

 

  Posted By: George Tallabas - Boise Idaho Real Estate Agent- Associate Broker 
with RE/MAX Advantage, Canyon Counties #1 Brokerage in sales and listings
specializing in Boise Idaho Real Estate and Southwest Idaho Real Estate

 

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Native Idahoan and Boise Idaho Real Estate specialist serving Boise, Meridian Eagle, Nampa, Caldwell and the surrounding Treasure valley area of southwest Idaho. Specializing in residential, investment, land and commercial real estate. Search thousands of MLS listings at Boise Homes for sale and learn all about Idaho by visiting Search Idaho Homes

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Rainmaker
588,465
Susan Neal
RE/MAX Gold, Fair Oaks - Fair Oaks, CA
Fair Oaks CA & Sacramento Area Real Estate Broker

Hi George - THis is a good list of changes I've noticed as well in my 25 years in real estate, among many of the obvious innovations since we have MLS on the internet and computerized lockboxes, etc.  I also notice that just in the last year I have been working further afield from my home, with listings far flung, albeit in areas I still know.  I won't take one in an area that is unfamiliar to me - can't do a good job - but I do drive 45 minutes to some of my listings and buyer showings.  Part of this is because of the down market - some areas have more activity than others.

Jan 02, 2010 01:10 PM #1
Rainmaker
1,047,834
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi George....It's always Great to read your posts...you always have good advice for us all..for those that listen, they will grow. It's the same with Sellers that take our advice, some clients do and others do not..it all in how we deliver the message to them.

Year ago my business partner and I soon discovered competitors from other parts of the country were willing to share ideas...you see We Were No Threat To Them. This same holds True here. Look at the sharing going on in the Rain...if you listen and take the advice you can be successful.

Great Post George, I'm sure this will be a feature...welcome home.

HAVE YOUR BEST YEAR EVER IN 2010 George !

Jan 02, 2010 01:28 PM #2
Rainer
184,664
George Tallabas
RE/MAX Advantage - Nampa, ID
Idaho Real Estate

Susan - Great insight and thanks for sharing

Fred - As always, thank you my friend!

Jan 02, 2010 01:43 PM #3
Rainmaker
343,886
Don Wixom
RE/MAX Executives Nampa, ID - Nampa, ID
"Looking out for your next move..."tm

Great post, George...  Now if some of our agents would just put this into practice! Happy 2010!

Jan 02, 2010 03:53 PM #4
Rainmaker
200,402
KAREN SANCHEZ
Hamilton Landon Real Estate - Apple Valley, CA
...Marketing your home like no one else will.

Hi George,

 

IF you Google me, I will come up on page 2 of google, I come up before the other 3 Karen Sanchez Realtors in CA and don't even know how many more there are in other states. It's tough with a common name to get to page one.  But thanks to Active Rain people can find me with one more click.  Some people are have an uncommon anme and will pop up to page on with no work at all, then there are those of us that have to  work hard to stay up near the top.

 

Jan 02, 2010 04:19 PM #5
Rainer
30,360
Nicki Conway
RE/MAX Alliance Group - Sarasota, FL
Sarasota Fl Real Estate

Hi George

Thanks for the great reminders.  It's human nature to resist change, but successful Realtors will go with the flow, learn the new and cast off the old traditional ways.  Good post and Happy New Year, George!

 

Jan 02, 2010 11:13 PM #6
Rainmaker
334,052
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

George

Change is good and for those who have a passion for real estate, change is welcome. You are being more than fair with your 90/10 rule!

Ty

Jan 03, 2010 01:28 AM #7
Rainmaker
189,486
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Happy New Year to you my friend.

I remember sometime in the early 90's when Mike Ferry at a seminar asked the question about the failure rate of agents. The response was very quick 80/20.

Mike quickly dispelled that with his thoughts on the subject. " I submit to you that it is closer to 95%, It is just that some agents don't realize it ! "

I suspect that as we look around today and see an average number of transactions 1-4 per year that there are a great many agents who are out of the Business and just don't know it.

Jan 03, 2010 02:10 AM #8
Rainer
184,664
George Tallabas
RE/MAX Advantage - Nampa, ID
Idaho Real Estate

Wixy - So very true my friend and Happy New Year to you!

Karen - You go Google Girl!

Nicki - Thank you my good friend and Happy New Year to you!

TY - Thanks and have a great day

Herb - Very well said my friend and have an awesome 2010!

Jan 03, 2010 03:01 AM #9
Ambassador
885,440
Janna Scharf
Keller Williams Realty Coeur d'Alene - Coeur d'Alene, ID
Coeur d'Alene Idaho Real Estate Expert

I am amazed at how many agents don't have a clue or a care about SEO.  I think the 90/10 rule is pretty accurate. 

Jan 03, 2010 05:42 PM #10
Rainmaker
210,056
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

George,

You have done a wonderful job with your blog and site.  On of my goals this year is taking more time to improve mine.  Happy New Year!

Jan 04, 2010 12:10 AM #11
Rainer
184,664
George Tallabas
RE/MAX Advantage - Nampa, ID
Idaho Real Estate

Marzena - Thank you and have a wonderful New Year!

Jan 04, 2010 12:22 AM #12
Rainmaker
94,159
Tamara Dorris
Master Your Market Real Estate Coaching - Carmichael, CA

George,


What a timely topic and excellent post. What you said really hit home with me. I especially like #2....we get so absorbed in the Internet that I think we sometimes forget the people part of our businesses. PEOPLE by houses, not computers :-)

 

Thanks for doing what you always do...giving me good things to think about :-)

Big hugs,


Tamara

Jan 04, 2010 03:26 AM #13
Rainmaker
94,159
Tamara Dorris
Master Your Market Real Estate Coaching - Carmichael, CA

George,


What a timely topic and excellent post. What you said really hit home with me. I especially like #2....we get so absorbed in the Internet that I think we sometimes forget the people part of our businesses. PEOPLE by houses, not computers :-)

 

Thanks for doing what you always do...giving me good things to think about :-)

Big hugs,


Tamara

Jan 04, 2010 03:34 AM #14
Rainer
184,664
George Tallabas
RE/MAX Advantage - Nampa, ID
Idaho Real Estate

Tamara - Thank you for the honor of stopping by and sharing your awesome thoughts my friend and have a fabulous day!

Jan 04, 2010 03:34 AM #15
Rainer
232,295
Sara Woolford & Steve Golson, ALHS
iTexas Realty Co. - San Antonio, TX

Hi George-

Your post is an accurate assessment of my own list.  A lot has changed in real estate and agents have to commit the time to implement those changes.  Nonetheless, the telephone is still the greatest two-way communication device ever invented!

-Sara in San Antonio

Jan 05, 2010 05:44 PM #16
Rainer
184,664
George Tallabas
RE/MAX Advantage - Nampa, ID
Idaho Real Estate

Sara - Good morning and thank you kindly for stopping by and sharing your thoughts!

Jan 06, 2010 12:18 AM #17
Rainmaker
126,331
David Dee
RMX REALTY - Alhambra, CA
Real Estate - San Gabriel Valley (L.A.) & N. Orang

From the desk of David Dee,

George, good 5 points you brought up. We must change with the times in order to survive and thrive. :D

Jan 31, 2010 04:23 PM #18
Rainer
184,664
George Tallabas
RE/MAX Advantage - Nampa, ID
Idaho Real Estate

David - So true, take good care.

Feb 01, 2010 02:23 AM #19
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