The following are the accompanying slides to the BCREA Journey of Discovery Webinar on the Rise of the Autonomous Consumer & the Opportunities for REALTORS®. Consumers are consistently handling more of the real estate transaction process themselves. We are all familiar with the data and have the first-hand experiences to support it. This DIY behaviour is also sparking new tension in the relationship between REALTORS® and their clients, generating questions of value and roles. While the typical reaction is defensive, our research demonstrates a number of offensive strategies for how REALTORS® can benefit from the rise of the autonomous consumer. Join us for the first of our three summer webinars where we will share our research and examples of how REALTORS® can respond to the changing consumer landscape to be more successful.

1. JOURNEY OF DISCOVERY
RISE OF THE AUTONOMOUS
CONSUMER & THE
OPPORTUNITIES FOR REALTORS®
THEME 1: CONSUMER AUTONOMY
WEBINAR
29 May 2014

2. Journey of Discovery Website

3. This trend is not going away
It is affecting your industry
It has major implications for REALTORS®
Why You Should Care About
Consumer Autonomy

4. Consumer Involvement
You are lucky.

5. Engaging Brands
Involve Customers
Image Credit: Arturo de Albornoz “Nike Transparent Billboard”, under Creative Commons
Attribution-ShareAlike 2.0 Generic

6. The IKEA Effect
You build it. You love it.
<Play>
Image Credit: James Willock, “build($ikea->desks),” under Creative Commons Attribution-
ShareAlike 2.0 Generic

7. DIY Engagement
Image Credit: Intellimortgage via ratehub.ca

8. Make Your Brand Stand Out
<Play>
Image Credit: Mitchell Laurren-Ring “Voodoo Doughnuts”, under Creative Commons
Attribution 2.0 Generic

9. What?
The ability for consumers to choose products/
services independently, rationally and without
undue influence or pressure.
Why?
Driven by a consumer desire for an unbiased
process and perceptions of value for service.
Consumer Autonomy

10. Leveraging Consumer Autonomy
Image Credit: Mercedes-Benz of Austin, Bob Nolen

11. Friction Points
REALTOR®

12. Image Credit: Dash by AmazonFreshOfficial
Reducing Friction
<Play>

13. Disintermediation
Removing the middle(wo)man
Image Credit: Bruce Spear, Berlin School of Economics

14. Disintermediation
Image Credit: Josh Breinlinger, Disintermediation in Marketplaces and How to Avoid It
• Driven by perceived low value
• What percent of your clients would rate you
“Excellent” on value for services received?
• Satisfaction data (NAR)

15. Has It Already Begun?

16. Switching on the Rise,
Loyalty on the Decline
Image Credit: Wind Mobile

17. “Real estate brokers and agents are doing a
damn fine job of disintermediating themselves
with lackluster, lackadaisical, lackwit service.”
Rob Hahn
A Tale of Two Listings: Foreshadowing of the Future
Is the REALTOR® Complicit?

18. Help consumers make better decisions.ure
Adding Value
Image Credit: Dan Ariely, Chapter 1: The Truth About Relativity, Predictably Irrational
Which dark orange dot is bigger?
Image Credit: realtor.ca

19. Image Credit: The New York Times, “Is It Better to Rent or Buy?”
Perfect Storm,
Perfect Opportunity

20. Questions

21. What is the biggest contributing factor to
consumers becoming more autonomous,
particularly early in the transaction?
Top 2: Technology (50%), Value for services
provided (25%)
Which do you feel presents the greatest
underutilized opportunity for co-creating
solutions with buyers/sellers?
Top 2: Developing the marketing plan and tracking
effectiveness (28%), Due diligence (26%)
Registration Question Responses

22. Do you see increasing consumer
autonomy as a threat or an opportunity
for your industry?
Press the dial pad on your phone
#1 Threat
#2 Opportunity
#3 Don’t know
We Have a Question for You

23. • Capitalize on consumer engagement?
• Create emotional experiences?
• Reduce friction in the transaction process?
• Circumvent disintermediation?
• Add value to the process?
• Stand out from the competition?
• Service the new generation of Millennials?
How will the REALTOR® of
the Future...

24. 1 2 3
May 29 June 19 July 10
Consumer
Autonomy
REALTOR®
Professionalism
REALTOR®
Match
Journey of Discovery Webinars
http://web.bcrea.bc.ca/jod/events.htm

25. Please Join Us on Facebook