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How Do You Picture the Real Estate Company of the Future?

By Cathy Womack

Real Estate Agent with Remax Solutions

January 05, 2007 04:44 PM

The real estate industry has seen alot of changes in the past few years. The main idea seems to be for consumers to only pay for what they need help with in the sale of their real estate. I see the problem as lack of knowledge by the consumer to understand how the industry works so they are aware of what they really need. The consumer might say" Houses in my neighborhood sell in one day, so I don't need a full service brokerage." What the consumer does not realize is that most of those homes were sold by other Realtors that see the new listings pop up in the MLS and race in with their already pre-qualified buyer to write a contract. The consumer does not realize that with their discount broker those same Realtors or their clients would have to just happen to drive by. I wonder if the discounter discloses this to the consumer or do they leave the customer thinking they are the same service only cheaper? I hear the misleading ads on TV and radio. Why does the Real Estate Commission allow misleading ads to the public? Any thoughts? I'd love to hear your viewpoints. Have a great day!

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Fred Light

| Nashua Video Tours - Nashua, NH

Real Estate Video Tours for MA and NH

I think (sooner rather than later) that the traditional real estate agent will go the way of the traditional travel agent (what's that???)

For buyers at any rate, I think customers will be able to search properties, visit "inside homes" virtually, drive through neighborhoods, get neighborhood comps (whether you agree with the analysis or not) and probably much more - all online, all for free, all on their OWN time at their OWN pace. They will get prequalified and educate themselves on the process of buying and selling real estate.

Essentially, they will be doing all of YOUR work FOR you. Driving around, determining their 'focus', seeing properties, neighborhoods, etc.

The one aspect of real estate that will NEVER be done on the web (although I hestitate to say 'never' in regards to the web!) is the negotiation, the paperwork, the closing, coordinating all of the many details and people involved, etc. The 'icky' stuff that almost everyone (even those who have bought and sold many homes in their lives) feel uncomfortable with.

The goal of your website will be to provide all of that information FOR them so they can do YOUR work for you .... If you provide that information for them on your site, WHEN they are ready to get down to brass tacks and make the big move, YOU will be the one they call. Realtors will work smarter, not harder. You will spend less time with your customers. You will be able to close more sales with less work.

An entire generation is now at the home buying age who grew up using computers and the internet. They know nothing else. That's how they will choose to do business. They're not going to respond to calendars and postcards and look up your ad in the yellow pages. They're not going to search for a house salesman FIRST. They're going to find their home online themselves, then engage someone to help them with the process that they are unfamiliar with that cannot be done online. That is how THEY will be searching for their first home.

Some will get on board, others won't. Some will win, the others will be seeking another career, I'm afraid.

I see it happening like this already - it's only going to grow. I can't even imagine what this industry will look like in 5 years!

Jan 06, 2007 12:46 AM

How Do You Picture the Real Estate Company of the Future?

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Cathy Womack

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