Trends

John Tuccillo - Surviving and Thriving in a Rapidly Evolving Real Estate Industry- A Field Guide for Brokers and Agents

The real estate industry continues to evolve rapidly, driven by the twin cyclones of consumer empowerment and technological change. But where does evolution stop and revolution begin? Often it seems that nothing has change and we can weather the storm and go back to doing what we’ve always done. Sometimes, it seems that all the bedrock wisdom about how the industry works is shattered and we can’t even see the pieces, much less put them back together again. This seems like a time closer to the latter than the former, with new business models emerging and consumers using the internet to do their own transactions. How can owners, brokers and agents get through this with their businesses, not only intact, but changed in a way to profit from change. This program with provide a guide for doing just that.

  1. Revolution and Evolution
    1. What causes revolutions?
    2. Where did all these changes come from?
      1. Demographics
      2. Consumer empowerment
      3. Technological change
      4. Innovation and disruption
    3. What does it mean?
      1. Absolute focus on the consumer
      2. Knowledge and efficient use of technology
      3. Meeting the new competition
        1. Models that will last
        2. Models that will wither away
    4. How broker-owners and agents must view the world differently
  1. Great Firms and Great Agents
    1. What makes a great company?
      1. Quantitative Orientation
        1. Data presented understandably to consumers
      2. Commitment to Communication
        1. Intra-company
        2. With consumers
      3. Understanding Demographics
        1. Who are your consumers?
        2. How are they best reached?
      4. The Right Tool Kit
    2. Being a great agent
      1. Knowing the market and the customer
      2. Maniacal concentration on customer service
      3. Understanding and using technology
  1. The New Rules of Real Estate
    1. The general rules that govern all businesses
      1. Be global
      2. Be quick
      3. Form strategic alliances
      4. Abandon your successes
    2. The most powerful economic unit is the consumer
    3. Lock the customer in for life
    4. Use technology to create unique value for the consumer
    5. Sell the experience not the project
    6. Know what business you’re in
  1. Playing by the Rules
    1. Putting together capital, systems and people
    2. Create the culture you want and need to succeed in your market
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Gee Dunsten - Predicting the Present

In the past, the top agents and companies where the ones who were the experts in marketing. In the future, the top earners will be the ones who are  the experts on the market.  It’s not as easy as it sounds. The media is infatuated with the housing market , but their coverage deals primarily with what has already happened.  To spice up their coverage, real estate pundits love to predict what the market will do in the next year or two, but they say little about what buyers and sellers should do today.  This poses a great opportunity for agents to gain a unique advantage over their competition by answering the number one question on the minds of buyers and sellers today, “What should I do now?”  This session will give brokers, managers, and agents the tools and the understanding to interpret market data, so they will be able to answer that question.

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Bernice Ross - Fifteen Trends to Take Your Business to the Top In 2017

I.     Learning Objectives. In this session you will learn:                            

A.    How to implement best practices related to key business and technology trends that are reshaping the real estate industry.

B.    Seventeen major trends plus 17 opportunities to grow your real estate business by providing better customer service while using the latest technological advances to gain market share.

C.    How to use the most recent innovations to keep your business strong.

I.    General Trends           

A. Trend #1: Economic update—what’s trending this quarter and what to expect.

  • Is market on track for another 5.5 million-sale year?

  • Is inventory shortage easing, but are their signs of another downturn?

  • Why inventory shortage may persist due to “locked-in” owners.

  • Red-hot rental market may finally slow down.

  • Institutional investors may liquidate current properties due to a slowdown and increased costs of maintenance as properties age.

Trend #2: The Right Now Economy                                         

  • Move from “Plan Ahead Economy” to “Right Now Economy.”

  • 76% live paycheck to paycheck.

  • Twitter—right now news, Waze.com—real time traffic, Uber—get a ride immediately.

II. Demographic trends

A.Trend #3: International trends including what the latest actions from the Trump administration mean for real estate.

B.   Trend #4: Gen Z takes stage, millennials finally commit to homeownership, while Boomers retire in mass. Will multi-generational homeownership continue to increase?

III.  Real Estate Marketing Trends

A. Trend #5: Video marketing—where it’s going and how to capitalize on it        

  • Tell your story, but let others do it through video testimonials.

  • Proven listing lead generator—video testimonials from seller referrals.

  • More live streaming: Instagram stories, Facebook live, and Snapstorms.

  • Visual content reigns—85 percent view videos without sound.

  • Video email boosts open rate by 19 percent, increases click-throughs by 65 percent, and reduces unsubscribes by 26 percent.

  • Referencing “video” in your subject line increases open rate by 200-300 percent.

B.  Trend #6: Marketing using virtual reality (VR) vs. augmented reality (AR).      

  • Virtual reality caravans.

  • VR goggles—instant listing converter and great closing gift.

  • 3D VR tours—no drones or fancy photography required.

  • Augmented reality will allow you to see the views from a highrise before the builders even break ground.

  • International clients with be able to signs in English and have the AR translation appear as subtitles.

IV. AI (artificial intelligence) re-inventing real estate as we know it

A. Trend #7: Predictive analytics

  • We can now know who truly will sell. (Smartzip, Brytecore—review of new companies into this field.)

B.Trend #8: Will technology kill your commission splits?

  • Open door, SoloPro, Purplebricks—how to avoid having these new players eat away at your listing commission splits.

  • New pricing tools, more accuracy than you can imagine—you can use comparable sales from decade ago, predict values at the single property level, and present the slickest, listing converter CMA ever—HouseCanary.com and WeissAnalytics.com.

  • Why value proposition and stellar customer service is more critical than ever.

C.Trend #9: Bedroom, bath, and price is dead: new search tools that are already transforming the search process. (TLCEngine.com, SpatialMatch, and Zillow’s new AI algorithm.

V.   Disruptive trends that can turn the business upside down

A. Trend #10: Teams vs. Indie brokers

  • Virtually every team in the country is violating the independent contractor laws when it comes to managing their agent teams.

  • Do you really need a team when you can have a text bot?

B. Trend #11: Is TRID and Dodd Frank really going away--ramifications for the business.

VI.  Building and conservation trends

      A.   Trend #12: Water supply and sustainability

  • Water supply becomes a major issue: suburban and farming needs vs. environmental forces.

  • Sustainability Movement—getting off the grid.

VII. General Tech Trends

A. Trend #13: Smart homes

B. Trend #14: Self-driving cars and their potential impact on real estate

C. Trend #15: Wearables replace embeddables

VIII.    Close and action steps               

 

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