Wow, This story really hit home because I have had this discussion with at least 4 close friends and family. How is all this online shopping going to affect my career in real estate and with buyers? So far, buyers and sellers are more Internet Savvy, but they still need help with the process of marketing their home, contract to close items, finding an attorney, and just having an unbiased, neutral party involved.
I just finished reading "What do Realtors and Bookstore People Have in Common?" and it got me thinking..
The comparison was - basically - a Realtor adds value compared to shopping for a home online the same way a brick and mortar bookstore adds value over buying from Amazon. (my apologies to the author for my very brief synopsis)
Borders Bookstore was a huge chain, in many countries, and they went under. In fact, how many bookstores do you remember? Barnes and Noble is about the only brick and mortar left - other than used bookstores.
Are real estate agents going the same way?
Yes, I love going into bookstores, sitting with a cup of coffee and browsing books and magazines. However, when I'm ready to buy, Amazon is my preferred online resource. Quick, convenient and usually less expensive.
And, like it or not, the cyber phenom is here to stay. New generations text while sitting in the same room rather than having a conversation. Really, conversation is what you have to offer them?
My son, of the cyber generation, found a condo in San Diego, while sitting here in North Carolina, on Craigslist. He and his wife later found an apartment in Wisconsin (while sitting here in North Carolina) on Craigslist. A year later, when they bought a home, do you think they sought out a real estate agent? That was a completely foreign concept. They went online, immediately pulled up properties in their areas of interest (no one needed to show them how), and ended up with a great deal on a great property from a for-sale-by-owner.
Are you online where searchers will find you - Facebook, Twitter, et al? If you're waiting for buyers to search for Realtors or Real Estate Agents, you're dead. That's not where they're looking and they have their own cars so they don't need you to drive them around.
Many agents are upset by it, many are offended, many try to justify that the way things have always been done are the way things should be done.
Well, things are not as they were and they continue to morph at lightening speed. Real estate agents must change or they are destined to go the way of the dinosaur - and Borders. What are you doing to survive?
Karen Rittenhouse | www.karensperspective.com | 336-834-0614 | karen@karensperspective.com
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Gonna be hard to say as I have heard this for well over 10 years now. Things have changed alot overall thats for sure. I also have noticed that not all the information on the web is good information and so far real estate agents are still needed.
Yup things are headed for the web for sure but I wonder if buyers will regret not getting the "inside knowledge" that a LOCAL Realtor provides such as advice on inspections they should have about issues inherent to the area. Is a buyer from NJ going to have any idea about bentonite soil issues, radon, or water permitting rules and regulations of Colorado? The old adage "you don't know what you don't know" can be very real in real estate and costly. I am curious however, as to what you are doing or suggestions you have for the future of Realtors?