Fight, Flight or Partner – Inman Conversation

Here are some notes from the roundtable converation that Brad Inman led:

Lennox Scott, CEO of John L. Scott
“There has been a paradigm shift in the public about the value of real estate services.”

Steve Ozonian, Help-U-Sell CEO
1. RE industry needs to wake up.

2. The internet has changed the way real estate is bought and sold:
consumers are getting choice and more information. more powerful and can distinguish better between good and bad service.

3. broadly, when buyers are looking to buy a home, they’re not happy with the transaction process. Someday someone will create a total cost calculator that shows buyers what it costs from move from point A to point B so that there are no surprises.

4. Buyers should be able to pick what level of service they want.

“The internet has allowed new models. If it was not for the internet, the way real estate is practiced wouldn’t have changed.”

RESPA is antiquated. Though it was created to protect the consumer at first, now it hurts them.

Dottie Herman, CEO Prudential Douglas Elliman
-The internet has changed our industry.

-You can no longer just be a real estate agent, you need to add value beyond just having your license and providing access to the MLS.

-The internet is becoming a part of what the consumer expects in their home buying/selling experience.

-You have to provide what your client/customer wants, not what you think they should get.

-There’s nothing better than a personal referral. However, in today’s web world, you can now get some spur-of-the-moment leads who come through the web via email or a phone call. real estate agents have to be quick to take advantage of these leads.

-I don’t think people want a million roadblocks today. The broker/agent can help navigate around those so that the buyer/seller doesn’t feel the pain. The industry needs to do a better job of showing that value.

Brad Inman
“It’s not that the internet is going to get rid of real estate agents, it’s going to get rid of real estate agents who don’t use the internet” – anonymous

Justin McCarthy, Google Strategic Partner Development Manager, Real Estate
-There’s a lot of reasons to say “no” or not do something. People are becoming less extreme about saying “no”, they are more open to trying new things.

-The internet doesn’t make referrals and repeat customers go away. This is a huge transaction that needs hand-holding from a real estate agent. Sure, they can get their information online, but the buyer/seller need to be part of the transaction.

-33% of people come to the internet to look for a broker/agent. Those who don’t take the internet seriously get passed over by the consumer, and the proactive agents get picked up on.