Comments on: The Real Estate Story Awaits the Next Chapter http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/?utm_source=rss&utm_medium=rss&utm_campaign=rss Conversations about the real estate industry, marketing, technology, and public policy Sat, 11 Feb 2012 02:48:33 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Rob Hahn http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-1315 Rob Hahn Wed, 20 May 2009 04:31:43 +0000 http://notorious-rob.com/?p=891#comment-1315 I think you're onto something big, UtahDave. What is an interesting question, to me at least, is whether those brokerages you describe who are focused on recruiting and their bottom line are actually in the real estate brokerage business at all -- as opposed to an office-leasing business. :) -rsh I think you’re onto something big, UtahDave.

What is an interesting question, to me at least, is whether those brokerages you describe who are focused on recruiting and their bottom line are actually in the real estate brokerage business at all — as opposed to an office-leasing business. :)

-rsh

]]> By: Rob Hahn http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-4360 Rob Hahn Wed, 20 May 2009 04:31:00 +0000 http://notorious-rob.com/?p=891#comment-4360 I think you're onto something big, UtahDave. What is an interesting question, to me at least, is whether those brokerages you describe who are focused on recruiting and their bottom line are actually in the real estate brokerage business at all -- as opposed to an office-leasing business. :) -rsh I think you’re onto something big, UtahDave.

What is an interesting question, to me at least, is whether those brokerages you describe who are focused on recruiting and their bottom line are actually in the real estate brokerage business at all — as opposed to an office-leasing business. :)

-rsh

]]> By: Utah Dave http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-1305 Utah Dave Tue, 19 May 2009 16:34:08 +0000 http://notorious-rob.com/?p=891#comment-1305 Great post Rob. Id love to elaborate a little more and give you an idea of what was being talked about. Im putting a new post up today that describes a little bit about the why. Why brokerages dont keep clients? Many people state that people chose the agent. I agree with that statement as you presented. I also know that people have chosen the brokerage or team despite the specific agent they used left. Brokerages and many teams are watered down. They lack the substance of influence to keep clients. Brokerages aren't focused on customer loyalty. Since that isnt their goal, the models wont reflect that. You brought up a great point about the 7 year cycle. NAR has a statistic that the majority of buyers/sellers forget their agents name within 6 months. Also, the majority of buyers/sellers say they will use their agent again but only a small percentage actually do. I believe a brokerage with team building will evolve. We already have seen the first level of people wanting to have teams in real estate. Its a first level trend. The next level will be making those teams effective. Big brokerages are focused on recruiting and their bottom line. They aren't looking forward to the value they could provide to the communities nor to their agents. Someone is going to give the value to the community and the agents. They will take market share. Where real estate services are being seen as a commodity, theres a great opportunity for someone to rise and shine. Great post Rob. Id love to elaborate a little more and give you an idea of what was being talked about.

Im putting a new post up today that describes a little bit about the why.

Why brokerages dont keep clients? Many people state that people chose the agent. I agree with that statement as you presented. I also know that people have chosen the brokerage or team despite the specific agent they used left.

Brokerages and many teams are watered down. They lack the substance of influence to keep clients. Brokerages aren’t focused on customer loyalty. Since that isnt their goal, the models wont reflect that.

You brought up a great point about the 7 year cycle. NAR has a statistic that the majority of buyers/sellers forget their agents name within 6 months. Also, the majority of buyers/sellers say they will use their agent again but only a small percentage actually do.

I believe a brokerage with team building will evolve. We already have seen the first level of people wanting to have teams in real estate. Its a first level trend. The next level will be making those teams effective.

Big brokerages are focused on recruiting and their bottom line. They aren’t looking forward to the value they could provide to the communities nor to their agents. Someone is going to give the value to the community and the agents. They will take market share.

Where real estate services are being seen as a commodity, theres a great opportunity for someone to rise and shine.

]]> By: Utah Dave http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-4359 Utah Dave Tue, 19 May 2009 16:34:00 +0000 http://notorious-rob.com/?p=891#comment-4359 Great post Rob. Id love to elaborate a little more and give you an idea of what was being talked about. Im putting a new post up today that describes a little bit about the why. Why brokerages dont keep clients? Many people state that people chose the agent. I agree with that statement as you presented. I also know that people have chosen the brokerage or team despite the specific agent they used left. Brokerages and many teams are watered down. They lack the substance of influence to keep clients. Brokerages aren't focused on customer loyalty. Since that isnt their goal, the models wont reflect that. You brought up a great point about the 7 year cycle. NAR has a statistic that the majority of buyers/sellers forget their agents name within 6 months. Also, the majority of buyers/sellers say they will use their agent again but only a small percentage actually do. I believe a brokerage with team building will evolve. We already have seen the first level of people wanting to have teams in real estate. Its a first level trend. The next level will be making those teams effective. Big brokerages are focused on recruiting and their bottom line. They aren't looking forward to the value they could provide to the communities nor to their agents. Someone is going to give the value to the community and the agents. They will take market share. Where real estate services are being seen as a commodity, theres a great opportunity for someone to rise and shine. Great post Rob. Id love to elaborate a little more and give you an idea of what was being talked about.

Im putting a new post up today that describes a little bit about the why.

Why brokerages dont keep clients? Many people state that people chose the agent. I agree with that statement as you presented. I also know that people have chosen the brokerage or team despite the specific agent they used left.

Brokerages and many teams are watered down. They lack the substance of influence to keep clients. Brokerages aren’t focused on customer loyalty. Since that isnt their goal, the models wont reflect that.

You brought up a great point about the 7 year cycle. NAR has a statistic that the majority of buyers/sellers forget their agents name within 6 months. Also, the majority of buyers/sellers say they will use their agent again but only a small percentage actually do.

I believe a brokerage with team building will evolve. We already have seen the first level of people wanting to have teams in real estate. Its a first level trend. The next level will be making those teams effective.

Big brokerages are focused on recruiting and their bottom line. They aren’t looking forward to the value they could provide to the communities nor to their agents. Someone is going to give the value to the community and the agents. They will take market share.

Where real estate services are being seen as a commodity, theres a great opportunity for someone to rise and shine.

]]> By: A “Real Estate Story” Wakeup Call | The You Factor http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-1228 A “Real Estate Story” Wakeup Call | The You Factor Mon, 11 May 2009 21:48:24 +0000 http://notorious-rob.com/?p=891#comment-1228 [...] up about a week and a half ago that has been sticking with me ever since.  The title of his post, “The Real Estate Story Awaits the Next Chapter” was in response to a post written by Brian Boero of 1000watt Consulting entitled, “The [...] [...] up about a week and a half ago that has been sticking with me ever since.  The title of his post, “The Real Estate Story Awaits the Next Chapter” was in response to a post written by Brian Boero of 1000watt Consulting entitled, “The [...]

]]> By: Rob Hahn http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-1158 Rob Hahn Fri, 01 May 2009 03:35:44 +0000 http://notorious-rob.com/?p=891#comment-1158 Ah, the death of the broker has been forecast many a time. FWIW, I don't see it. I do think there may be a substantial shift in the financial model in the next few years, but that will require a change in the relationship between agents and brokers, and the compensation model. -rsh Ah, the death of the broker has been forecast many a time.

FWIW, I don’t see it. I do think there may be a substantial shift in the financial model in the next few years, but that will require a change in the relationship between agents and brokers, and the compensation model.

-rsh

]]> By: Rob Hahn http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-4358 Rob Hahn Fri, 01 May 2009 03:35:00 +0000 http://notorious-rob.com/?p=891#comment-4358 Ah, the death of the broker has been forecast many a time. FWIW, I don't see it. I do think there may be a substantial shift in the financial model in the next few years, but that will require a change in the relationship between agents and brokers, and the compensation model. -rsh Ah, the death of the broker has been forecast many a time.

FWIW, I don’t see it. I do think there may be a substantial shift in the financial model in the next few years, but that will require a change in the relationship between agents and brokers, and the compensation model.

-rsh

]]> By: Evan http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-1155 Evan Mon, 27 Apr 2009 17:32:59 +0000 http://notorious-rob.com/?p=891#comment-1155 Matt, your assessment of the industry was very good, but I don't see how your vision of the future is any different from exactly what is going on right now. You have simply replaced "any old agent" with "top notch agents" and injected a bunch of money. This isn't the great shakedown/rewrite that Rob, Brian or Utah Dave is talking about. It seems to me that these new elite agents will have to have fundamentally different jobs. It also seems like the broker needs to either provide a new and essential service or its days are numbered. This is where technology comes into play. I can't say I know how it will look, but very soon somebody is going to be capable of showing the consumer a complete map of the entire real estate landscape. Including nearly every house up for sale anywhere, up to date data about all them. Somebody is going to have to pay for this system and somebody will have to be trained to use it. This is where I believe the shift will take place. Matt, your assessment of the industry was very good, but I don’t see how your vision of the future is any different from exactly what is going on right now. You have simply replaced “any old agent” with “top notch agents” and injected a bunch of money. This isn’t the great shakedown/rewrite that Rob, Brian or Utah Dave is talking about. It seems to me that these new elite agents will have to have fundamentally different jobs. It also seems like the broker needs to either provide a new and essential service or its days are numbered. This is where technology comes into play. I can’t say I know how it will look, but very soon somebody is going to be capable of showing the consumer a complete map of the entire real estate landscape. Including nearly every house up for sale anywhere, up to date data about all them. Somebody is going to have to pay for this system and somebody will have to be trained to use it. This is where I believe the shift will take place.

]]> By: Evan http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-4357 Evan Mon, 27 Apr 2009 17:32:00 +0000 http://notorious-rob.com/?p=891#comment-4357 Matt, your assessment of the industry was very good, but I don't see how your vision of the future is any different from exactly what is going on right now. You have simply replaced "any old agent" with "top notch agents" and injected a bunch of money. This isn't the great shakedown/rewrite that Rob, Brian or Utah Dave is talking about. It seems to me that these new elite agents will have to have fundamentally different jobs. It also seems like the broker needs to either provide a new and essential service or its days are numbered. This is where technology comes into play. I can't say I know how it will look, but very soon somebody is going to be capable of showing the consumer a complete map of the entire real estate landscape. Including nearly every house up for sale anywhere, up to date data about all them. Somebody is going to have to pay for this system and somebody will have to be trained to use it. This is where I believe the shift will take place. Matt, your assessment of the industry was very good, but I don’t see how your vision of the future is any different from exactly what is going on right now. You have simply replaced “any old agent” with “top notch agents” and injected a bunch of money. This isn’t the great shakedown/rewrite that Rob, Brian or Utah Dave is talking about. It seems to me that these new elite agents will have to have fundamentally different jobs. It also seems like the broker needs to either provide a new and essential service or its days are numbered. This is where technology comes into play. I can’t say I know how it will look, but very soon somebody is going to be capable of showing the consumer a complete map of the entire real estate landscape. Including nearly every house up for sale anywhere, up to date data about all them. Somebody is going to have to pay for this system and somebody will have to be trained to use it. This is where I believe the shift will take place.

]]> By: jbferris http://www.notorious-rob.com/2009/04/24/the-real-estate-story-awaits-the-next-chapter/#comment-1151 jbferris Sun, 26 Apr 2009 02:48:20 +0000 http://notorious-rob.com/?p=891#comment-1151 Very intriguing post by Brian, Rob and comment by Matt. Lots of food for thought. I agree with Matt though, give legitimate value and top producers will give you more commission. Shockingly simple yet 99% of brokers don't even realize/care. Very intriguing post by Brian, Rob and comment by Matt. Lots of food for thought. I agree with Matt though, give legitimate value and top producers will give you more commission. Shockingly simple yet 99% of brokers don’t even realize/care.

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