There have been a number of articles discussing the future of traditional real estate brokerages. Predictions that the next few years may mark the end of an era of real estate brokerage as we know it today. Dramatic transformation of the industry is unavoidable due to the proliferation of large real estate portals, fee for service type brokerage companies, revolutionizing Internet technologies, and the restructuring and liberation of multiple listing service data.
What has resulted is two things: continuing consolidation into larger and larger real estate brokerage companies that control multiple segments including mortgage origination and relocation or a new paradigm real estate model that supports buyer representation, agent employed, technology driven fee for service. The impact of this plus the push to change the traditional role of the agent as only a transactional middleman, places a downward pressure on commissions.
To provide a wide array of real estate contract support prior to, during the course of as well as after the house acquisition, brokers must change their approach in order to bolster declining real estate profits. Real estate services have extended into residence finance loan, title services, insurance coverage, residential warranty and home repair work type professional services.
A new form of real estate industry has manifested in response to communication technology advancements online. The public comes armed with more detailed information obtainable through the use of nation wide real estate portals which include Zillow and Trulia and starts a home investigation well before communicating with a real estate agent. These web sites make a lot more real estate data available but have introduced a middle man in between agents and clients. As a result a great deal more money is allocated to merchandising properties targeting consumers. The "preferred agent" on many of these web sites is not the most qualified realtor but instead is the individual who paid the greatest amount of money to be at the top. The portals' published information is typically less reliable, out of date and somewhat less wide-ranging than that of local agents.
The days of simply placing a for sale sign in a lawn or an classified advertisement in the local paper to gain success are bygone days for realtors. Only through mastery of numerous skill-sets that propel their business venture and becoming an expert in their niche will agents prosper. Real Estate has historically had a relatively small hurdle to admission, an opportunity to work independently as well as having high financial potential. Real estate agents in the past simply needed to express very minimal competence to successfully pass a licensing exam and after that were left unaided to get additional training.
Much more demanding educational requisites, continuing education combined with many years of contract expertise have raised the bar to agent success. The state of mind of the more conventional agent, powered by competition and emphasis on their own benefits rather than that of the consumer, has ultimately been a detriment to industry reputation. Real estate agents cannot survive by behaving as they have in the past. They have to now provide top level service to every single person by utilizing technological innovation and being a specialized counselor. Fear of rivalry and the unrelenting guarding of five star secrets and techniques must be abandoned. Realtors who are dedicated to serving the people surrounding them will quickly realize more rewards. Agents must become multi-faceted masters of important subjects besides real estate, to include marketing and advertising, people, selling, negotiation, and financing options.
Productive realtors will likely differentiate themselves as providers of counsel to customers and co-workers while continuing to learn about each and every part of the real estate industry. This position of sharing increases trustworthiness and nurtures clients who respect the real estate agent's wisdom, consider their competence and receive reputable hints together with foreseeable ultimate results.
The only way to avoid becoming obsolete is to reinvent your role before the marketplace does it for you. When the concept of real estate brokers arose, there was no Internet. Brokers controlled all the information so that from afar, there was no way to know anything about a property. There were far fewer ways to advertise properties too. The role of the real estate agent needs to focus on what services can you provide that a client can't already do online. This means collecting, managing and sharing information rather than simply using the same information that everyone else has. Be absolutely trustworthy by doing the right thing proactively. Find a way to create and shape a role that significantly benefits clients.
The disruption taking place in real estate will affect traditional brokerages that have recruited, partnered and supported independent agents. Agents still provide a valuable service that most of us need and want. The traditional broker business model centers around recruiting more and more agents who are ineffective in customer service, ethics and sales and thereby reduce the quality of real estate services in general. The broker gets a bigger split from poor performing agents who create a reputation problem for the industry. Better producing agents get a bigger commission cut because they provide the most value which means there is diminishing value of the broker.
To bolster consumer confidence in a field where there is a huge amount of information and facts available to consumers, the real estate industry must evolve. The directive for the new brokerage firm is to collect information, help define the comparable value of data and convey that knowledge to potential buyers, home owners as well as property investors. By adopting an effective means of reinforcing agent relationships and providing new advances in technology products and solutions, brokerages can better support agents. Frequent examination of computer systems and technology and implementing careful choices for the real estate agents will ensure the value of the brokerage.
Technology has made it easier for a boutique brokerage to operate effectively with fewer people to manage business operations. Collaboration is the best way to solve difficult problems and is a rising trend as a means for brokerages to provide more value to a team of agents. Setting high standards for customer service and training agents on a common technology platform fosters outstanding agent performance because of the nurturing office environment. One of the benefits of collaboration for brokers and agents is a smoother, more consistent delivery of services to the customer. Another is the increased sense of belonging that can reduce agent turnover. The collaborative approach support specialist roles which enhances the collective knowledge and skill set of the entire team. The team approach is more effective in assuring the individual's success.
Openness and transparency will be an expectation from clients demanding a superior real estate experience. Critically important to working with the modern day informed prospect will be mobility, swiftness and customized customer service. Achieving success in the business necessitates that sales agents have an understanding of local real estate conditions and be able to deliver that information to prospects via their chosen communication sources (electronic mail, phone call, text messaging, social websites, etc.) A reluctance to trust real estate professionals drives most prospective buyers to extensively search online property sites like Realtor.com and Zillow. Transparency at every point in time during the transaction process is a consumer requirement. Nonetheless whenever a consumer is ready to act, they desire a fast response. When looking for real estate industry experts, consumers frequently turn to their own friends on Facebook. Agents will need to generate confidence online, offer valuable facts and information and never make sales propositions when using social media. Consumer reliance upon realtors to sift through information, negotiate the contract terms and walk them through the whole process will persist.
More supervision of agent education, software and customer service delivery allows the creation of a formidable brand awareness by real estate brokerages. Typically, brokers must take on the business of lead generation and investigate innovative methods to provide increased value for their realtors. By developing a prominent online presence, creating videos and communicating with the consumer, brokers are able to ensure that their agents deliver outstanding service to the customer. The general public is substantially less dependent upon real estate professionals because local real estate information readily available via mobile device, social and electronic technology. Agents who ask the right questions and offer wisdom will make themselves invaluable as a vital source for clients. Streamlining throughout all areas of business will provide an industry advantage to the real estate agent and broker.
A rarity in the real estate industry, the ActiveLife Realty Team has adopted this style of business and puts focus on truly helping customers. The goal of an optimal real estate experience for clients is achieved by the brokerage cultivating cooperation and excellence amongst the team and encouraging agents to work together. Just as in virtually any industry, whenever the team workers are satisfied, are non-rivals and assured of their competencies, their happiness is conveyed to the buyer.
This specialty brokerage was created in 2009 as Gardiner Real Estate by Broker, Alice Gardiner and joined later that same year by Sandy Hanner. The brokerage firm was established with the mission of working hard for each client and maintaining high ethical standards. Both principals in the brokerage had worked for the builder and developer of Sun City Texas, so the business focus was on helping clients find the best home for them in the community. Twenty-five years of combined experience in Sun City Texas and the familiarity with all facets of newly built and resale houses in the community was and continues to be a unique value the brokerage provides to clients interested in buying.
The brokerage firm was renamed Sun City Realty in the year 2011 as a way to define the niche market in which the brokerage firm primarily worked. Later in 2013, it became obvious that the housing market had improved and the active adult market would certainly be growing in the region as other builders positioned themselves to take advantage of retiring baby boomers. Sun City Realty subsequently became the ActiveLife Realty Team and recruited 2 additional realtors to assist clients. Then in late 2014, the general contractor of Sun City Texas reported the growth of the development with the purchase of an adjoining 1500 acre tract of land. In a strategic move, the ActiveLife Realty Team has widened their business sector to specialize in active adult and master-planned subdivisions in the area.
By developing systems to manage clientele, operations and advertising, offering training and assistance to sales agents, maintaining transaction quality control as well as cultivating a team course of action for customer service, the ActiveLife Team has created a viable and innovative working model. The brokerage is consumer focused as a "Buyer Agency", taking no listings and providing more value to customers. Having long been interested in providing good quality lead-generation to agents, the ActiveLife Realty Team has produced an online site which gives a great deal of information to potential customers. As soon as these people subscribe to the e-newsletter or request a no cost "Buyers Guide", they are already qualified potential customers who trust the website as a source for all their homebuying needs. Because the ActiveLife Realty Team of realtors never represent sellers and are only buyer agents who provide unparalleled representation and advocacy to potential customers, the value to he consumer is confirmed. By creating a client-driven business plan, the ActiveLife Realty Team is the future of the real estate business.
What has resulted is two things: continuing consolidation into larger and larger real estate brokerage companies that control multiple segments including mortgage origination and relocation or a new paradigm real estate model that supports buyer representation, agent employed, technology driven fee for service. The impact of this plus the push to change the traditional role of the agent as only a transactional middleman, places a downward pressure on commissions.
To provide a wide array of real estate contract support prior to, during the course of as well as after the house acquisition, brokers must change their approach in order to bolster declining real estate profits. Real estate services have extended into residence finance loan, title services, insurance coverage, residential warranty and home repair work type professional services.
A new form of real estate industry has manifested in response to communication technology advancements online. The public comes armed with more detailed information obtainable through the use of nation wide real estate portals which include Zillow and Trulia and starts a home investigation well before communicating with a real estate agent. These web sites make a lot more real estate data available but have introduced a middle man in between agents and clients. As a result a great deal more money is allocated to merchandising properties targeting consumers. The "preferred agent" on many of these web sites is not the most qualified realtor but instead is the individual who paid the greatest amount of money to be at the top. The portals' published information is typically less reliable, out of date and somewhat less wide-ranging than that of local agents.
The days of simply placing a for sale sign in a lawn or an classified advertisement in the local paper to gain success are bygone days for realtors. Only through mastery of numerous skill-sets that propel their business venture and becoming an expert in their niche will agents prosper. Real Estate has historically had a relatively small hurdle to admission, an opportunity to work independently as well as having high financial potential. Real estate agents in the past simply needed to express very minimal competence to successfully pass a licensing exam and after that were left unaided to get additional training.
Much more demanding educational requisites, continuing education combined with many years of contract expertise have raised the bar to agent success. The state of mind of the more conventional agent, powered by competition and emphasis on their own benefits rather than that of the consumer, has ultimately been a detriment to industry reputation. Real estate agents cannot survive by behaving as they have in the past. They have to now provide top level service to every single person by utilizing technological innovation and being a specialized counselor. Fear of rivalry and the unrelenting guarding of five star secrets and techniques must be abandoned. Realtors who are dedicated to serving the people surrounding them will quickly realize more rewards. Agents must become multi-faceted masters of important subjects besides real estate, to include marketing and advertising, people, selling, negotiation, and financing options.
Productive realtors will likely differentiate themselves as providers of counsel to customers and co-workers while continuing to learn about each and every part of the real estate industry. This position of sharing increases trustworthiness and nurtures clients who respect the real estate agent's wisdom, consider their competence and receive reputable hints together with foreseeable ultimate results.
The only way to avoid becoming obsolete is to reinvent your role before the marketplace does it for you. When the concept of real estate brokers arose, there was no Internet. Brokers controlled all the information so that from afar, there was no way to know anything about a property. There were far fewer ways to advertise properties too. The role of the real estate agent needs to focus on what services can you provide that a client can't already do online. This means collecting, managing and sharing information rather than simply using the same information that everyone else has. Be absolutely trustworthy by doing the right thing proactively. Find a way to create and shape a role that significantly benefits clients.
The disruption taking place in real estate will affect traditional brokerages that have recruited, partnered and supported independent agents. Agents still provide a valuable service that most of us need and want. The traditional broker business model centers around recruiting more and more agents who are ineffective in customer service, ethics and sales and thereby reduce the quality of real estate services in general. The broker gets a bigger split from poor performing agents who create a reputation problem for the industry. Better producing agents get a bigger commission cut because they provide the most value which means there is diminishing value of the broker.
To bolster consumer confidence in a field where there is a huge amount of information and facts available to consumers, the real estate industry must evolve. The directive for the new brokerage firm is to collect information, help define the comparable value of data and convey that knowledge to potential buyers, home owners as well as property investors. By adopting an effective means of reinforcing agent relationships and providing new advances in technology products and solutions, brokerages can better support agents. Frequent examination of computer systems and technology and implementing careful choices for the real estate agents will ensure the value of the brokerage.
Technology has made it easier for a boutique brokerage to operate effectively with fewer people to manage business operations. Collaboration is the best way to solve difficult problems and is a rising trend as a means for brokerages to provide more value to a team of agents. Setting high standards for customer service and training agents on a common technology platform fosters outstanding agent performance because of the nurturing office environment. One of the benefits of collaboration for brokers and agents is a smoother, more consistent delivery of services to the customer. Another is the increased sense of belonging that can reduce agent turnover. The collaborative approach support specialist roles which enhances the collective knowledge and skill set of the entire team. The team approach is more effective in assuring the individual's success.
Openness and transparency will be an expectation from clients demanding a superior real estate experience. Critically important to working with the modern day informed prospect will be mobility, swiftness and customized customer service. Achieving success in the business necessitates that sales agents have an understanding of local real estate conditions and be able to deliver that information to prospects via their chosen communication sources (electronic mail, phone call, text messaging, social websites, etc.) A reluctance to trust real estate professionals drives most prospective buyers to extensively search online property sites like Realtor.com and Zillow. Transparency at every point in time during the transaction process is a consumer requirement. Nonetheless whenever a consumer is ready to act, they desire a fast response. When looking for real estate industry experts, consumers frequently turn to their own friends on Facebook. Agents will need to generate confidence online, offer valuable facts and information and never make sales propositions when using social media. Consumer reliance upon realtors to sift through information, negotiate the contract terms and walk them through the whole process will persist.
More supervision of agent education, software and customer service delivery allows the creation of a formidable brand awareness by real estate brokerages. Typically, brokers must take on the business of lead generation and investigate innovative methods to provide increased value for their realtors. By developing a prominent online presence, creating videos and communicating with the consumer, brokers are able to ensure that their agents deliver outstanding service to the customer. The general public is substantially less dependent upon real estate professionals because local real estate information readily available via mobile device, social and electronic technology. Agents who ask the right questions and offer wisdom will make themselves invaluable as a vital source for clients. Streamlining throughout all areas of business will provide an industry advantage to the real estate agent and broker.
A rarity in the real estate industry, the ActiveLife Realty Team has adopted this style of business and puts focus on truly helping customers. The goal of an optimal real estate experience for clients is achieved by the brokerage cultivating cooperation and excellence amongst the team and encouraging agents to work together. Just as in virtually any industry, whenever the team workers are satisfied, are non-rivals and assured of their competencies, their happiness is conveyed to the buyer.
This specialty brokerage was created in 2009 as Gardiner Real Estate by Broker, Alice Gardiner and joined later that same year by Sandy Hanner. The brokerage firm was established with the mission of working hard for each client and maintaining high ethical standards. Both principals in the brokerage had worked for the builder and developer of Sun City Texas, so the business focus was on helping clients find the best home for them in the community. Twenty-five years of combined experience in Sun City Texas and the familiarity with all facets of newly built and resale houses in the community was and continues to be a unique value the brokerage provides to clients interested in buying.
The brokerage firm was renamed Sun City Realty in the year 2011 as a way to define the niche market in which the brokerage firm primarily worked. Later in 2013, it became obvious that the housing market had improved and the active adult market would certainly be growing in the region as other builders positioned themselves to take advantage of retiring baby boomers. Sun City Realty subsequently became the ActiveLife Realty Team and recruited 2 additional realtors to assist clients. Then in late 2014, the general contractor of Sun City Texas reported the growth of the development with the purchase of an adjoining 1500 acre tract of land. In a strategic move, the ActiveLife Realty Team has widened their business sector to specialize in active adult and master-planned subdivisions in the area.
By developing systems to manage clientele, operations and advertising, offering training and assistance to sales agents, maintaining transaction quality control as well as cultivating a team course of action for customer service, the ActiveLife Team has created a viable and innovative working model. The brokerage is consumer focused as a "Buyer Agency", taking no listings and providing more value to customers. Having long been interested in providing good quality lead-generation to agents, the ActiveLife Realty Team has produced an online site which gives a great deal of information to potential customers. As soon as these people subscribe to the e-newsletter or request a no cost "Buyers Guide", they are already qualified potential customers who trust the website as a source for all their homebuying needs. Because the ActiveLife Realty Team of realtors never represent sellers and are only buyer agents who provide unparalleled representation and advocacy to potential customers, the value to he consumer is confirmed. By creating a client-driven business plan, the ActiveLife Realty Team is the future of the real estate business.
About the Author:
Be sure to consider all of your options for living an active life in a master planned or active adult community. Get all the facts about active adult lifestyle communities and home ownership options from the experts for Central Texas.
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