ActiveRain has a contest this month about what works and what doesn't work in our real estate strategies. And, what are we doing about it in 2018.
First and foremost, I have never been a "follower" so when I went into real estate, I wanted to do it MY WAY. I had been in the advertising and public relations field my whole life, first in large corporations, later in my own businesses.
One thing that stood out from those past experiences is that EVERY industry changes. And so has real estate.
I was actually lucky enough to get into real estate just when the Internet changed the business and made it more efficient. And I embraced that with my own websites! Early on that made a big difference especially when the market crashed! I had (still have) my own server, know how to build websites so can maintain them at little cost.
But as the years progressed, THE BIG BOYS got into the act such as Zillow and Trulia with their hugely successful data based driven websites and the game changed. At first I didn't pay too much attention to them figuring that, hey, as long as I get listings, I will not lose out.
BUT THAT WAS A LOSING SUPPOSITION.
Even though I set up free accounts with all of them, I did not pay attention to the power they accumulated over the years in attracting buyers and sellers away from individual agents. Yes, I got calls from buyers the minute I put up a new listing but unless it was a real "steal", those calls dropped off right away.
MY STRATEGY FOR THIS YEAR.
I am going with the changes happening in the industry to insure my longevity in real estate.
Yes, it will cost me money, but it can be a lucrative business with more volume.
To help me in my endeavor to get more volume, I will need to expand my brokerage. This has a 2-fold effect, we expand our reach to the public plus be able to give the service the public expects which is 24/7. I will have to give up some of the control that I have so adamantly kept to myself but there is no way I can work every hour of every day. Many of my calls come in the evenings and the public loves the fact that I get right back to them.
WHAT WAS MY MOST WINNING STRATEGY?
This question is part of the contest but really not relevant if you go with my theory that real estate is ever changing. What worked in the past will change in the future.
Probably the most constant has been my association with Activerain. Here I blog, sometimes more than other times during the year depending how busy I am. I've made friends on AR and received referrals with much success. I can't see this changing anytime soon because it's a community of agents interacting not corporations taking over. Or at least I hope that won't happen in the future.
A last thought:
My position is probably not too popular with everyone in the real estate industry, but the inevitable didn't sit well with travel agents and other entire industries that have changed or disappeared the last few years. Such is the power of the Internet where the public expects instant answers.