Insights from Trends in a Shifting Real Estate Industry

By
Real Estate Agent with HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 SA585680000

Year after year I attend the Trends in Real Estate Event, organized by Arizona Association of Realtors®. Always thought-provoking, informative, entertaining, insightful. I usually take one insight and test how it worked in my business and what I can do to make it better.

This year's Trends in Real Estate was held on December 5th, 2019 at the Phoenix Art Museum. Three excellent presentations took us from understanding how consumer preferences have changed, through working with i-Buyers when representing the Seller, and into insights of the new automation software that is entering the real estate transaction process.

Nobu Hata, Director of Industry Outreach for the National Association of REALTORS®, talked about new-school techniques to service better our Buyers and Sellers, and mentioned that more changes have occurred in our industry for the last 1-2 years, than in the last 20 years combined. He asked: What are we promising on our websites to consumers? Is what we are doing off-line displayed prominently enough on our web-sites? Our authentic self, do we convey the message well - it still matters. Do we have the systems and processes to show 20 homes on a Saturday and Sunday to a relo client? Now that the median time to stay in a home is 10 years, how do we keep our repeat business?

 

 

 

How do we work with the two categories of people - connected and disconnected.

Which platform our clients like better? Facebook or TikTok? Where do we have to be?

Debbie Yost, often referred to as "The Systems Queen", made us think about a world where homes are controlled by a phone, contracts are written and read on a phone. She and Melissa Yost Fuentes shared their experience working with an i-Buyer, as a Seller's agent. The i-Buyers from the audience also participated.

One important take-away for me from their presentation was to compile a list of local market examples and learn the cost of convenience. 

 

Jeff Turner, the Resident Entrepreneur for Second Century Ventures, specializes in topics at the intersection of technology trends and human behavior and advises technology startups, navigating the complexities of the real estate market. He emphasized watching one trend - Automation! New technology companies are coming to the market, focusing on adding efficiency on activities from the transaction process.

 

 

 

When he was talking about the three tech innovations that will impact the automation of everything, it seemed like it was coming from science fiction books - even though I have been accustomed to seeing self-driving vehicles in Phoenix for the last couple of years.

 

 

One example - Parafin - a software company whose product can create millions of site-specific design configurations, complete with Budgets and Pro-formas.

 

 

The amount of research and information that Jeff Turner shared with us in those hour and a half that he talked, was amazing.

He closed on an optimistic note. Pay attention to what's happening! Stay involved!

 

 

I just finished this blog and saw Endre Barath, Jr. 's challenge for this month - it seems my blog post may qualify for participation.

 

 

Posted by

Steffy Hristova, MBA, SFR, CNE, Realtor®

HomeSmart Elite Group
Tel:  (480) 966-9353

10601  N. Hayden Rd. I-100
Scottsdale AZ 85260

                                                           http://www.talktosteffy.com                                                               

Follow me on Facebook, Twitter, Linkedin

 

                                                              

 

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Rainmaker
4,631,059
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Steffy,

Thank you for sharing what you gleaned from your attending this meeting.  Wishing you a wonderful 2020.

Jan 03, 2020 01:03 PM #1
Rainmaker
2,629,579
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Trends in real estate have always been at a fast moving pace.  It is important to stay connected to the latest changes and keep current.

Jan 03, 2020 02:54 PM #2
Rainmaker
437,265
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Myrl Jeffcoat , that was the message that Jeff Turner had, and he emphasized that the rate of those changes had accelerated incredibly in the last 2 years. Active rain is one of my ways of staying current, I log in every day, and there is always something new I learn.

Jan 03, 2020 05:09 PM #3
Rainmaker
3,259,684
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steffy thank you for keeping us up to date of the fast changing real estate world, Endre

Jan 03, 2020 09:59 PM #4
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Oh, that is a powerful conference - any conference is that features Jeff! I adore him and anything he touches, tends to turn to gold!

I agree with going where our sphere is. I read comments all of the time from members here, "I hate Facebook and wouldn't dare have an account there!" They are clueless about the times, aren't they?!!

Thanks for sharing and for entering the challenge this month - great entry, Steffy!

Jan 03, 2020 11:00 PM #5
Rainmaker
2,629,579
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I suspect that with the proliferation of Artificial Intelligence, changes to our industry will occur at an accelerated pace.

Jan 04, 2020 08:30 PM #6
Rainmaker
437,265
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Debe Maxwell, CRS , I like your enthusiasm about Jeff! I felt like that at the conference, listening to him! Very insightful, and makes the information relevant to us.

Jan 04, 2020 09:32 PM #7
Ambassador
1,930,553
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Steffy.  Good use of time to attend this one. Thanks for sharing the information - we really do have to market to our spheres - what are their hot buttons and where do they go for their data? 

Jan 06, 2020 08:55 AM #8
Rainmaker
437,265
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Debb Janes EcoBroker and Bernie Stea JD , thanks for stopping by - allowing time to attend this conference is one the things that have provided good return on my time investment in previous years, so I keep it on my Annual To Do List.

Jan 06, 2020 01:54 PM #9
Rainmaker
437,265
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Endre Barath, Jr. , if I just clicked on one of the links to the companies that Jeff talked about, it is bound to set up a whole set of thoughts about the changes that are coming. That's one easy way of looking at the horizon. Thanks for stopping by.

Jan 06, 2020 01:58 PM #10
Ambassador
2,935,784
Anna Banana Kruchten Broker/Owner, CRB, CRS
Phoenix Property Shoppe - Phoenix, AZ
602-380-4886

Hi Steffy Hristova first of all I love your updated photo!  And I so wanted to atttend this conference but was had to lay low due to foot surgery.  And....after reading your post I now know what they talked about and totally agree with it all. Things are changing in the industry and fast. Understanding what changes one needs to make is so important. Happy New Year!

Jan 06, 2020 02:26 PM #11
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Gosh, Steffy Hristova I am so impressed by all the new technology you learned. It was time well spent! Thank you for sharing. I wish I could have been there. These are very important changes and I can see how easy agents who are not in the know can and more than likely will fall behind. Phew! Thanks for sharing. I have a lot to learn!!!

Jan 06, 2020 09:07 PM #12
Rainmaker
3,259,684
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Parafin could be a game changer Steffy, glad you introduced us to it, Endre

Jan 06, 2020 09:56 PM #13
Rainmaker
3,471,112
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello steffy - learning and change are ideally matched as we enter a new year.  It's good to stay up-to-date on the newness that impacts our world.  

Jan 07, 2020 07:17 AM #14
Ambassador
4,102,272
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Steffy:

That sounds like a pretty impressive event with some great insights. I have heard both Nobu Hata and Debbie Yost speak, and I know Jeff Turner personally and have heard him multiple times. I would have loved to have been there.

Jeff

Jan 11, 2020 04:45 PM #15
Rainmaker
437,265
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Anna Banana Kruchten Broker/Owner, CRB, CRS , I hope the surgery is now in the past and forgotten. Ah, well, sometimes we cannot avoid them. I know you would have enjoyed the conference, but you have probably heard the speakers at other  events, CRS maybe.

Jan 13, 2020 06:12 PM #16
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