What Buyers Want – Trends to Pay Attention to from Daniel Levine

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

What Home Buyers Want – Trends from Daniel Levine   

 

Daniel Levine is an expert on trends (trends are NOT fads, he says), running a company, the Avant-Guide Institute, that specializes in helping companies in the global marketplace understand the social trends that motivate consumers to buy, and how to be more relevant, profitable and innovative.

 

I’m in Boston for the CRS meetings and the keynote talk before starting our mastermind work Thursday morning was a riveting discussion by Daniel about trends in real estate, specifically things that home buyers want. Listen up – these can all, and should, impact how you conduct your real estate business now, and in the future.

 

online ratings1. Buyers want top ratings.

Whether we like it or not, online ratings are a part of our world, and seemingly pertain to just about every service, venue, and product imaginable….did you know that Yelp rates prisons? You can rate your Uber driver, and they can rate you, too! The post office asks for surveys, doctors and dentists want feedback, and it goes on and on.

 

Levine says more and more buyers are looking online to find out who they want to work with, and ratings for Realtors are found all over (Zillow and Yelp being just 2 popular sites), and not only when we request them. Younger buyers are relying on ratings more than other generations.

 

Having good ratings online as an agent is essential, and requesting past buyers and sellers to rate us online is an important thing to do, in addition to collecting those testimonials. Levine says research shows a 1 star increase on Yelp can mean a 5 – 9% increase in revenue. So if you don’t have 5 stars guess what – there is work to be done.

 

Transparency2. Buyers want transparency

The desire for transparency, and the push for companies to provide it, is everywhere. Trace your Catch by Bumblebee allows consumers to find out where that tuna came from by entering a code from the can. Another example - Job hunters can get the inside scoop on companies and management on Glassdoor.

 

Buyers these days want to know, and can learn, all sorts of things about homes, the buying process, about agents and so much more well before they ever contact us, and afterwards. Real estate agents used to be the guardians of listings and everything about them but no longer. Want to know who died in a house – you can check Died in House (but it will cost you!).

 

Social media has changed forever the notion of keeping pretty much anything private, it seems. In some ways it’s getting harder to compete without being very transparent, but of course one must be careful about how transparent you are AND what you share and where. You never know who might be reading…that potential client, perhaps. Yes, you want to be out there online but for the right reasons.

 

Levine recommends we share the truth of what we really do, and have a value proposition to communicate to potential buyers, and sellers.

 

3. Buyers want efficiency

Consumers these days want their lives to be easier, and tons of companies go out of their way to make this happen. Technology is a big part of making life easier…or so that’s the claim. Look at all the online 1-click shopping, for example (heard of Amazon?). And Dominos now has Zero Click shopping just by launching their app! How simple is that!?

 

FAQsJust think about all the new companies that now exist to presumably make the buying and selling process easier for consumers. Purplebricks, Offrs, Homelife for sellers…and the list keeps growing. I’m not recommending them, just sayin’!

 

Levine recommends thinking carefully about how we can streamline things for our clients and make life easier for them in the purchasing process.

 

Consider the things that might make it difficult to work with us (e.g., communication, getting information and updates), and how to eliminate that difficulty. How about a list of FAQs on your website or blog so consumers have access 24/7? And think about how can they reach you, and you can reach them easily – texting? Email? Facebook Messenger?

 

4. Buyers want Higher Touch

Notice that says “higher” not “high.” Buyers already expect, and deserve, high touch, and high tech (not one or the other). But keep in mind that high tech doesn’t suit everyone.

 

What’s interesting is that the shift that took place in many companies to high tech is changing in the other direction, with more consumer contact (Amazon, again, being a good example) becoming more essential. Some companies that were only online now offer bricks and mortar stores.

 

Consider how you can become even more high touch with your clients beyond what you already do, and not hide behind all that technology all the time.

 

robot5. Living for the future

This was an interesting discussion focusing on where things are now, and where they are heading, particularly with robots.

 

Robots are being used more frequently in hotels to assist guests and deliver things to their rooms, Walmart is using robots at some stores for restocking shelves, and robots at the airport in Seoul, South Korea, will give you information about your gate and will escort you there.

 

Compass has unveiled new digital signage recently. Robots are being used to show rental properties. The CIWAO app allows buyers to do a self-walk-through open house after a background check. Holland is 3-D printing habitable houses. You can bet this arena will keep expanding.

 

Want to know more about trends? Levine recommended checking out Wikitrend.

 

Not only is it important to be aware of the trends but to consider how they impact our real estate business and how we can innovate when we do to better assist our clients.

 

Levine shared a list of questions to ask ourselves. The one that stood out most for me was “how can we better promote our value to our clients?”

 

This all may not be new to you, but hopefully these trends will give you something to think about, and to look at some possible changes in your business.

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Debbie Reynolds 11/04/2018 12:00 PM
  2. Gabe Sanders 11/15/2018 10:00 PM
Topic:
ActiveRain Community
Groups:
Certified Residential Specialists
SAN DIEGO Real Estate Agents & Loan Officers
San Diego Realtors®
Tags:
real estate trends
daniel levine

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Jeff Dowler, CRS
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Hi Sally K. & David L. Hanson  - it was so good I really wanted others to benefit, too!

Thanks for YOUR wise words, too Adam Feinberg !

Jeff

Nov 06, 2018 02:24 PM #32
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Jeff Dowler, CRS
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Hey Margaret Goss 

This talk may have been the most beneficial thing I came away with, other than connecting with lots of friends and meeting a bunch of new agents, including a number of international agents. Come to the CRS Sellabration in Las Vegas in early February for some REALLY great networking and education.

Jeff

Nov 06, 2018 02:57 PM #33
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Bruce Kunz 

You know, I don't think these trends are going to go away, nor should they.

Jeff

Nov 06, 2018 04:00 PM #34
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Kathy Streib
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Hi Jeff- What a wonderful post you shared about what buyers want. As techie as I am, robots frighten me!!!  well, I would consider a Roomba but that's about it! 

Nov 06, 2018 04:02 PM #35
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Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
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Those are all good points to ponder when working with buyers and sellers.

Nov 07, 2018 10:14 AM #36
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Denise Hamlin, Broker/Owner
Cardinal Realty ~ 319-400-0268 - Iowa City, IA
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Lots of food for thought here Jeff. Thanks for the post. It's definitely got me thinking!

Nov 07, 2018 04:38 PM #37
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Patricia Kennedy
RLAH Real Estate - Washington, DC
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Jeff, sounds like there was  whole lot to learn in Boston!  So many of the latest trends are things none of would have dreamed of ten years ago.

Nov 08, 2018 12:09 PM #38
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Jan Green
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Excellent post! I'm surprised you don't have more comments.  It's always been my mission to add more value to my business so being aware of what a home buyer or seller needs before they ask for it is big part of my personal touch.  Kudos on this post!

Nov 13, 2018 05:39 PM #39
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Debe Maxwell, CRS
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I read this post and see that I moved on and didn't leave you a comment, Jeff! You know, I have my reservations about the 'Y' organization, simply because if a competitor leaves a 'fake' review, it's like pulling teeth to get it removed. I've not had that happen personally but, do know some who have. I think, for the most part, we're safe in that respect though. 

I agree that sending out reminders to leave a review should be habit - not as uncomfortable as we all seem to think it is!

Nov 14, 2018 11:15 AM #40
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Jeff Dowler, CRS
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Hi Lisa Von Domek  - it really was an interesting talk, and not just about real estate. See you at Sellabration, too, right?

Jeff

Nov 14, 2018 11:28 AM #41
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Jeff Dowler, CRS
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Hi Elisa Uribe Realtor #01427070 

And there are plenty of things we can do, if we think about it, to help provide that efficiency!

Jeff

Nov 14, 2018 11:41 AM #42
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Jeff Dowler, CRS
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Hi John Henry  - there are lots of perspectives, right?

It was at the top of my list Diana Dahlberg . Unfortunately I did not write down all the questions.

Jeff

Nov 14, 2018 11:42 AM #43
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Jeff Dowler, CRS
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Hi M.C. Dwyer  - I agree. These all apply to sellers, too.

Kathy Streib  - well I get that. It's pretty amazing what robots are doing these days, and no doubt will do even more in the near future!

Jeff

Nov 14, 2018 11:44 AM #44
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Jeff Dowler, CRS
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Georgie Hunter R(S) 58089  - I so agree!

Denise Hamlin, Broker/Owner  - glad you enjoyed it. It certainly gave me a lot to think about, along with some changes I plan to implement.

Jeff

Nov 14, 2018 11:46 AM #45
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Jeff Dowler, CRS
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Hi Patricia Kennedy 

It always is a good learning experience with CRS and great take-a-ways. The thing to keep in mind about these trends is they are not short-lived. And yes, things have changed quite a bit.

Jeff

Nov 14, 2018 11:48 AM #46
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Jeff Dowler, CRS
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Hi Jan Green 

I think that's a smart strategy for all of us to provide added value.

Jeff

Nov 14, 2018 11:50 AM #47
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Jeff Dowler, CRS
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Debe Maxwell, CRS 

I think most clients are willing to share reviews, but sometimes actually doing so is a bigger issue. I have my own reservations about Y, too, for a number of reasons. But the reality is it's there.

Jeff

Nov 14, 2018 11:52 AM #48
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Lisa Von Domek
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Doubtful for Sell-A-Bration Jeff Dowler, CRS but I have San Fransisco on my calendar!

Nov 14, 2018 07:18 PM #49
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Jeff Dowler, CRS
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Lisa Von Domek 
Well if not Sellabration I will take charge of arranging a meetup in your honor!

Jeff

Nov 14, 2018 07:55 PM #50
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff I missed this post for some reason and thanks to Gabe Sanders  reblog I am here, I agree with most of your points, with the exception of the last one I think more people prefer actual interaction with a human rather than with AI, but I have been wrong before, Endre

Nov 15, 2018 10:47 PM #51
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