If we all just had a crystal ball that worked. Unfortunately, none of us are able to peek into the future to see what will happen next. We all just have to exist with what we know now. I think we all would agree that the last several years have been brutal, and it may not be much better for a little while. As such, we all all have to cope with less income.
The Internet, though, seems to be on its own warp speed. Most of us can barely keep up with all the new things that technology can now do. If this is what we know now, it seems that the real estate industry will evolve along those lines and will be headed in that direction. I can see that the real estate companies that have not already, will soon be going to the 100% commission models.
Agents will not be able to survive otherwise. Brokers will understand that the brick and mortar offices will sail into retirement as a way to keep the office overhead manageable. Most of us have already been using our virtual office- even if you haven’t realized it. We will become increasingly dependent on web sites, social media, and things like the new QR codes. If you are not using these new avenues of marketing, or worse, if you do not know what these are, you are already playing catch-up. Technology will work best if it helps you do something better, or faster, or both.
The successful real estate brokerage companies of the near future should be savvy enough that they understand the necessity of tech support for their agents- and lots of it. Brokerage support should now be focused on creative ways of marketing using the power of the virtual world. Helping agents set up, use, and integrate the pertinent types of available technology will be a key advantage to a brokerage company. Companies that offer these benefits will live on and prosper. Others probably won’t. And if what we know today has any bearing on the future, you might want to get on board. I can almost see the train leaving the station as we speak.