Jason E. Gordon, Sr. Loan Officer, CMPS, CDLP, RCS-D, CDPE, CMHS (AmeriFirst Financial Inc, San Diego, CA)

Spam prevention
Rainmaker
1,210,254
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I actually have to disagree with each of these examples.  Blockbuster was not able to pivot into streaming, that is what killed them.

I don't see Uber killing the taxi industry.  Most people I know still use taxis over Ubers.

The music industry is not dead, far from it.  Musicians actually don't make much money from albums, the labels do.  Musicians make the most from touring.

Amazon killed retailers because you can buy pants while not wearing any pants.

AirBnB gives hotel options in cities where none exist.  That's it's power.  That you can rent a house for less than or similar to a hotel is great.

Apr 24, 2019 11:27 AM
Rainmaker
724,079
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

What are your action steps as to the "how" element?

The graphic is a bit simplistic, don't you think?

 

Apr 24, 2019 10:07 AM
Rainmaker
2,971,350
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I have never neglected my clients -- I believe in high tech and high touch and my clients get it. I've partnered well with my co-brokers and lenders for 25 years. My clients have never not understood the value I bring.

Apr 24, 2019 10:27 AM
Rainmaker
4,866,124
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

my team has a "team" of members we use and they each use US.... our business is based on listings...we are listing agents and I market offline for those using direct mail marketing postcards...old school methods that keep us at the top of our game.... we are, obviously, online but listings come from offline marketing....buyers come from online... we leave buyers for buyer agents and we cooperate with all buyer agents....

Apr 24, 2019 09:50 AM
Rainmaker
1,023,742
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I am all ears, I am open to suggestions. 

Apr 24, 2019 04:53 PM
Rainmaker
1,563,205
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

You have given many good points here Jason E. Gordon but unfortunately there is no solution. We all had hoped that the Realtor organization (NAR) would accomplish what you are suggesting but look how well that has worked. 

Apr 24, 2019 11:09 AM
Rainmaker
1,276,842
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager


The consumer is into convenience. Everyone is busy and it's easy to sit in front of a computer looking at homes and inquiring about financing.  The industry needs to educate the consumer that the tech companies aren't doing them any favors. It's all about the money.

Apr 24, 2019 10:02 AM
Rainmaker
1,520,801
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Perhaps the model used in some parts of Europe could be the solution, i.e., only listing agents sell their listings toi buyers.

Apr 25, 2019 06:34 AM
Rainmaker
521,471
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Blame the victim? I'd say a change in consumer preferences, to using technology over human interaction, killed all of the above. 

Apr 25, 2019 04:59 AM
Rainmaker
416,796
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

This and a couple hundred million in tv advertising and we will have it made.

Apr 25, 2019 04:55 AM
Rainmaker
1,477,296
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

It is not about the whole industry, but an individual. If I work with you on the loan for the first time and you do not answer calls, emails, do not update me and do you job on time, I'll most likely not be your agent again. It works with me at any insdustry. 

Apr 24, 2019 10:30 PM
Ambassador
4,053,042
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

We are not afraid of any disrupters.

Apr 24, 2019 06:53 PM
Rainmaker
2,762,934
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I am not losing a battle over tech companies. 

Apr 24, 2019 05:40 PM
Rainer
409,143
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Make sure your clients know your value.  I work well with my partners so we compliment each other.  Will this be enough to keep me in business?  We will have to see how these new features from Zillow and others will work. Can't see into the future but we can stand out now.

Apr 24, 2019 01:01 PM
Rainmaker
3,164,848
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Will be looking for more in the future. I partnered with lenders, title companies, lawyers, home inspectors and various tradesmen for years when active to deliver superior customer service.

Apr 24, 2019 12:36 PM
Rainmaker
4,309,391
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jason,

Actually Netflix did kill Blockbuster retail stores, and left them empty!  As a frequent traveler, I have not seen a shortage of hotels ever!  More like an overbuilt situation.

 Barnes & Noble had to close many stores to stay profitable for instance...

Technology is supposed to help us,  not to take up all our time.  A

Apr 24, 2019 12:23 PM
Rainmaker
5,262,044
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is a good topic for multiple blog posts.

Apr 24, 2019 10:39 AM
Rainmaker
2,891,376
Richard Weeks
Dallas, TX
REALTOR®, Broker

Looks like a great topic for a blog.

Apr 24, 2019 09:56 AM
Rainmaker
4,018,483
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thank you for this information.

May 07, 2019 02:26 PM
Rainmaker
650,266
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

WE need to deliver a high level of service and competency to our clients to reinforce the value of working with us. Those who want "cheap" will pursue that course. That has always been true. We do not compete at that level and against those providers. We pursue and work with home buyers and sellers who want a satisfactory transaction delivered at a level that exceeds their expectations.

Apr 28, 2019 10:21 AM
Rainmaker
790,971
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

Consumers want choices.   Choices allow consumers to determine the price/value relationship they want to utilize. Taxis - high price w/ limited options.  Hotels have limited availability, high pricing.   Airbnb's offers additional inventory with a significant marginal cost advantage. Etc... 

The real estate industry needs to offer consumers choices; choices they want. Stop the silly six $1 bills demonstrations to justify a commission. Give them meaningful price/value options and let them choose their solutions.  Using tech is only one way to do so.  Each of us can also do it one on one with potential clients.

We need to recognize the traditional real estate commission compensation system is high risk/high reward to the agent. It is a low risk/high cost to the consumer. The consumer has no skin in the game and can walk away w/out monetary consequences. Change the risk/reward calculus by providing choices and let the consumer choose their risk/reward solution. Reducing commissions w/out reducing risk is not an economically viable strategy.

Apr 25, 2019 09:57 AM
Rainmaker
466,632
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr. Loan Officer, CMPS, CDLP, RCS-D, CDPE, CMHS

Thank you for your comments Folks, some of you put some strong thought into your responses (which is appreciated). 

 

The idea behind this thread was simply to reinforce "the good" (the benefits of Agents/Lenders partnering on high levels to continue to provide unparalleled value to our Clients), while maintaining our awareness of "the bad" (the disrupting tech companies spending countless dollars on advertising budgets trying to convince our Clients that we are overepaid and/or unnecessary, thus infringing on our market share).

 

There are plenty of directions to take this topic as some of you have displayed. I can't say I fully agree with all of the comments above, but I respect your opinions. At the very least, I think there is value in this dialog, as it maintains our collective awareness of the power these tech companies (and their lofty budgets) have over the Consumer...while reminding us to always pivot/evolve accordingly in order to survive & thrive.

Apr 25, 2019 08:31 AM
Rainmaker
2,940,275
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

In Ft Lauderdale there were no Ubers available close to the airport, I took a tax as it was there. It was disgusting and the driver rude. That is what kills the taxi industry. PLUS it was 3 times what an Uber would cost. NOW on to real estate, providing great personal service is the way to beat the online real estate sites. People still demand good service and less and less are giving it. 

Apr 25, 2019 05:39 AM
Rainmaker
743,017
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Those are points, not valid but points all the same.

There is no body of evidence showing that professionals working together and delivering a product the citizen has expressly stated they don't want, will result in prevailing over the market forces.

Instead, the results is citizen resentment from the OBVIOUS suppression of choice imposed by these same professionals....(often due to restrictions accepted as part of being in the sandbox and too cowardly to oppose).

Be very aware that technology simply makes disruption happens faster. The story behind the creation of Rocket Mortgage and the background psychology is incredibly revealing.

So how can real estate professionals and lenders actually deliver the expectations to the consumer that the sandbox rules currently don't permit?

NAR and much of the real estate industry is much like Block Buster and Kodak, thinking someone will save them. Well actually Kodak DID dump the losing stuff. sold the profitable stuff and downsized to Kodacurrency and printers, at Kodak's own initiative.

If you are ready to go rogue, make your peers and competitors mad, stand alone in the storm of criticism all yelling, YOU ARE WRONG....then perhaps we can work together, otherwise it's business as usual while those outside the banking and agent industry create to deminish the pie from which we hope for a slice..

Apr 24, 2019 01:55 PM