How to adapt to a changing real estate industry

Budding professionals who want to succeed have to adapt right alongside their clients, and be ready for anything that could come their way.

The real estate industry is changing. This goes beyond the market conditions, such as the number of foreclosed houses or the rising interest rates - it extends deeper, into the mindset of buyers and sellers themselves.

People today view the industry in a different light, and they may expect certain things or demand their real estate agents to be well-versed in a wide range of skills and tricks of the trade. Therefore, those budding professionals who want to succeed have to adapt right alongside their clients, and be ready for anything that could come their way. 

Consumers want to be served, not to be sold
The main needs of consumers is shifting, and new technology, habits and trends have altered the landscape and forced those involved to change as well.

Greg Harrelson, real estate broker with C21 The Harrelson Group, wrote on ActiveRain that consumers want to be served, not to be sold. What exactly does this mean? Essentially, buyers and sellers no longer want sales talk and promotional pitches. Instead of gimmicks and tricks, real estate agents should show them the value in their services, provide them with a wealth of information and allow them to form their own opinions.

In addition, today's consumers have a shorter attention span than in years past, Harrelson explained. This is an important trend, because it will impact client relations and marketing tactics. Most people now want information quickly and concisely. Something in a minute or two - like a YouTube video - will be most effective. It is also worth mentioning that consumers can "turn off" a real estate agent at any time. This means they can unsubscribe from a newsletter, stop following social media, or ignore email marketing. In order to keep them tuned in, real estate agents have to always find a way to help clients, provide them with information and use the most up-to-date tools.

Courthouse Retrieval System can help reach those goals. Communicating with clients will be easier with access to an expansive collection of mortgage records, property data and much more. Better yet, professionals will save time once spent on trips to the local courthouse.

Help clients see the value in an agent
Unfortunately, not every person sees the value in their real estate agent. They may see them as a necessary evil, someone that has to be used to reach an end goal. While these may not be the best people to work with, they have to be treated the same as everyone else. And, the best way to do this is to show them the value behind the sales aspect of the profession.

Teresa Boardman, Minnesota-based real estate broker, wrote in an article for Inman News that real estate agents should think of themselves as teachers. These unruly clients may seem harsh, but they still want a home. Much of their animosity could be bred out of the unknown of the profession, and educating them about the behind-the-scenes aspects can simplify the process. Who knows, maybe they'll actually appreciate all the hard work at the end of the day.



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