EvOlvE OR dIE!transactions? And, to what extent do innovative websites like Zillow,
Trulia, Sawbuck, and other consumer-centric sites empower buyers and
sellers in a way that changes how you as a Realtor conduct business?
As I shot out questions and we discussed the current state of the real
estate industry, a problem was obviously and vividly identified. A prob-
lematic opportunity that resulted in my seeking a solution. My questions,
his answers, along with statistical data from NAR (National Association
of Realtors) conceived a business model that would revolutionize the
real estate industry.
The answer to my earlier question about what Realtors are doing or not
doing? Nothing! Realtors simply haven’t changed!! The Internet was
changing and reshaping our industry right under our (Realtors) noses!!
As the Internet evolves, it empowers consumers and begins to change
their buying and selling habits due to their having access to excess in-
formation. Access to view homes at their own leisure, view tax values,
home values, days on the market, view foreclosures, view Open Houses,
and conduct aerial views all from the comfort of their own home or of-
fice. Access. Access. Access. Mr. Johnson found his own home because
he had access to just about all information at his fingertips!
THE FACTS: Buyers and Sellers are evolving every day! Why? Be-
cause the Internet is giving consumers information today that they didn’t
have access to just a few years ago. How does a Realtor preserve their
way of doing business? They can’t! The cat has been let out of the bag
years ago. It’s only going to evolve more rapidly. Consumers to some
degree can access just about anything about a property that a Realtor
used to hold sacred. Do consumers need Realtors like they use to? Of
course not! However, consumers need Realtors to facilitate and navigate
them through the potential pitfalls and to a successful closing. When
people have access to information, it changes everything. The founders
of Redbox, Netflix, and Amazon conceived a more efficient and effec-
tive way of delivering a service by leveraging technology. These ideas
successfully lowered the PRICE in their respected industries! Why do
we think the real estate industry is exempt from this equation?
THE PROBLEM: The housing market changed the moment the fi-
nancial industry changed. You affect the money, you affect purchasing
power. Unless you have cash, financing a home is like buying back in