The real estate sales business, like all other businesses
in the world, is in a techno-revolution. The new technology in the world has created
tremendous changes and growth in our industry. Agents and companies are dramatically
changing the way they do business to take advantage of this vast new frontier. The
technology is moving at a faster rate everyday. As an agent, you must prepare and learn to
capitalize on this revolution. The days where you could do your business out of a shoe box
with 3" x 5" note cards is drawing to a close. The power of the computer age has
made many of the things we did years ago obsolete. Agents will need to set up their
business to run like a true corporation to be successful in the new millennium. With these
changes, there are a few specific areas we need to evaluate.As we enter the new
millennium, contact management and customer service software systems will become more
imperative for agents. In the new millennium agents will need to have tremendous amounts
of information about their clients and potential clients. This information will enable
them to become a valuable resource to their clients and in turn sell more to their
clients. In addition, these agents will receive more referral business because their
service level has increased. In order to join these successful agents, you will need to be
able to keep in contact with your clients quickly and more frequently if you hope to
create winning sales situations.
I firmly believe, based on the social-economic trends, in the future, people will not
move so frequently. The average years people spend in one home will increase. There will
be fewer moves in peoples lifetimes. There are a few factors contributing to this
trend. The first is desire of the American people to simplify their lives. In increasing
numbers, people are reducing their monthly overhead. There are more single-income families
because one of the parents is staying home with the children. This reduction in gross
income, caused by the loss of one breadwinner, reduces the discretionary income. Families
are making decisions based on the value to the family unit and to the children,
especially. They are realizing that living in the big fancy house does not have the same
value as having Mom and Dad at home more often. The larger home does not always create a
larger, more enjoyable lifestyle. This voluntary downsizing is currently a clear trend in
our society.
The second key reason is the largest segment of the population has only one move left.
The boomers are now seeking to enter the age of early retirement, while they are still
active. The boomers are starting to evaluate where they will move next. They have more
selection in the types and variety of housing than all other preceding generation. I think
this will be one of the most viable sections of the marketplace. We will see them sell the
large family fortress. After that sale they will have many different areas and options of
the type of housing they can choose, i.e., condos, townhouses, ranches, retirement
communities galore, golf course communities, and 55+ communities. The builders and
developers clearly see this group as the fastest-growing segment of the market. They are
beginning to gear up for the eventual onslaught.
You need to be prepared to service the boomers by knowing the inventory available and
amassing systems to take advantage of the onslaught. Position yourself for the changes
today, do not be caught. The new technology will enable you to do more work and research.
It will allow you to collect more knowledge and data in a shorter length of time. Not only
do you need to have the technology, you need to use it. I regularly see too many agents
resisting change rather than embracing change. You need to know how to squeeze the most
value out of your software. You need to have the software, but you also need to use it.
Not using the software is like not having it in the first place.
You must have a command of is your contact management software. This software is the
life blood of your business. It will enable you to create sales. There are many good
software packages out there such as Act!, Top Producer, On Line software. Each has its own
particular strengths and weaknesses. Do your homework and carefully check out each one.
When you purchase software, you must evaluate the training that each one offers. If you
cannot get good, solid training, do not buy that software. Some of the value of the
software is learning it quickly and efficiently. If you are going to have to self-teach
yourself, while you are trying to run your business, you will never fully utilize the
software. You must be able to use the full power of the software to be able to bring the
most success to your business.
Make sure your software has the power to network. I would advise you not to purchase
software that does not network. If you expand your business beyond yourself, you will need
the capabilities to network your computers. Also, do not buy software if the manufacturers
say they are working on a network version that will be out soon. I had this experience
with my primary contact management software. The manufacturer took over 18 months to
complete the job. Every time I called them, they said completion was one or two months
away. I made the mistake of waiting to switch and lost valuable time and dollars in the
process.
The internet is a way to augment your sales and listings. It will allow you access to
more potential clients. There are a few basic needs to reap success out of the internet.
You need to create a quality web-site or you will be relegated to the bush leagues. Next,
you need to spend the time and energy to constantly update and adjust your web-site. If
you have the same content you had months ago, people will stop re-visiting your web-site.
You want more than a one time visit from people. You want people who regularly come back
to view your properties and information and refer others to your web-site.
You want to create the quintessential source of information on real estate in your area
via your web site. Create a section to share a piece of yourself with the visitor. Share
your philosophy on selling and your mission statement. Remember that there are 50
bazillion realtors on the world wide web. You need to make yourself stand out. Creativity
will enable you to be selected and viewed differently than other agents.
Work with a server company that will constantly help put you in the forefront of the
search engine pages. If you are not in the right spot on the web you might as well not be
there at all. The web is growing and changing at an alarming rate, so even if you are
positioned right this week, in two weeks you might be out of the game because of changes
on the web. You need to constantly review the search engines, your web-page, and your
competitors web-page.
This techno-revolution is changing many things in real estate, but the one thing that
will never change is quality telephone and face to face sales skills. If you do not have
the sales skills, the technology will only prolong the inevitable, and you will eventually
be out of the business. The technology will help good salespeople become better and allow
them to do more business. The techno-revolution will not cover up poor sales skills.
Highly skilled salespeople will always have the advantage. If you want to be included
among them, the feeding of your mind is the best expenditure of money in your life. Your
mind is the your most valuable computer you will ever own. We often take the mind for
granted because it came as standard equipment that we did not buy or pay for. Just as we
need to upgrade the hardware and software on our computer, we must upgrade our mind and
sales skills. Techno-revolutionize your mind by studying the art of selling, art of time
management, and art of understanding your business. These skills will take you further
than all the fancy gadgetry of the 21st century. My biggest fear is that agents
will try to use technology to replace the sales skills. Technology will not replace the
skill of selling, it will only enhance the skill. An exceptional salesperson in a dinosaur
system can still achieve success in todays world. A poor salesperson in a high tech
system is still a poor salesperson. Poor salespeople are always paid at the bottom of the
ladder. That fact will never change.
I encourage you to learn the new technology that will enable you to provide greater
service to your clients and to do more transactions with less effort. Do not neglect the
most valuable computer that occupies the six inches between your ears. If it is well
trained, this one can network with anything and anyone at the drop of a hat.