You realize these fashions WILL be coming back, right?
I wanted to get to this before 2014 dawned, of course, but… it was more fun to hang out with my boys. And by that I don’t mean my posse of secret real estate pundits, but my actual biological progeny.
In any event, it’s customary here at Notorious to make predictions that are sure to go wrong, or your money back! 2014 should be no different in that regard.
This year’s musical selection comes to us from the days of my youth. I never imagined that we would one day have an entire satellite radio channel devoted to hair metal but… what a wonderful world this is indeed! For those of my friends attending Inman Connect in NYC, I heartily recommend stretching your vocal chords with these selections at karaoke. Continue reading →
The first Triple Crown Winner in 45 years… and he bat .330
Welcome to another edition of an annual tradition, in which I go back and grade myself on my predictions made at the start of this year. My track record so far:
2010 Predictions: 6 of 10 (.600)
2011 Predictions: 4.5 of 7 (.642)
As was the case last year, I’m hoping to be wrong more often than not, because my 2012 Predictions, written on January 2, 2012, were kind of on the doomy and gloomy side of things. Let’s take a look, shall we?
Thus far, we have explored why Redfin 3.0 is significant, and the hypothesis that the real estate consumer cannot, will not, or in any event does not form relationships with companies or with brands, but only with another person: the agent. We have looked at the two main consequences of that hypothesis: that if the brokerage brand doesn’t help an agent form and maintain client relationships, it can’t hurt an agent either; and that brokerages should only invest in technology only to the extent that such investment leads to greater recruitment and retention of agents. What matters, at the end of the day, is agent count.
We now turn to how those two conclusions then inform business strategy for brokerages going forward.
So in the last post, I made the case that Redfin 3.0 is significant because of who made the decision. Redfin was and remains (a) an innovator in brokerage business models, (b) a technology leader, and (c) led by smart people who don’t make snap decisions. Their decision to move away from the whoever happens to be available brokerage-to-consumer model to a one-to-one agent-to-consumer model suggests that perhaps the real estate transaction is so emotional, so psychological, so personal that consumers cannot form a relationship with any company or brand, but only with another human being.
In this part, I explore the possible consequences of that assumption: real estate consumers can and will form a customer relationship only with a human being. I believe that assumption has real implications for the hot topics the industry is debating and talking about today.