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The Next Generation of Brokerage

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Staying relevant with today’s homebuyers may require a professional makeover and changing the traditional approaches to listing and selling property. Studies show that today’s homebuyers and consumers listen more to one another than they do to marketing messages of advertisers. A similar study found that advertising conducted by a company is acknowledged more by a company’s competition rather than the intended target audience.
Every Broker and Agent must ask themselves what business they are in and whether their traditional idea of “how to be in the real estate business” is still relevant to what the customers want and how does get you to Super from Great to Super!

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The Next Generation of Brokerage

  1. 1. Oscar Gonzales Copyright 2013 Realtors Open Forum The Next Generation of Brokerage
  2. 2. Oscar Gonzales Copyright 2013 Introductions
  3. 3. Oscar Gonzales Copyright 2013 Continued Uncertainty in the Economy and MarketplaceAttractive affordability conditions generated by very low mortgage interestrates appeared to be bringing some buyers back to the market.Pace of a home sales recovery still depends more on job creation and anaccompanying rise in consumer confidence.Recent trends in oil, producer and commodity prices are raising concerns aboutanother round of “recession.”Mortgage rates are expected to remain low for awhile but qualifying for amortgage is still very challenging.The Euro…..
  4. 4. Oscar Gonzales Copyright 2013 What changes do you see coming in the Next 5 Years?
  5. 5. Oscar Gonzales Copyright 2013 The Tipping Point Is defined as: • The moment of critical mass, the threshold, the boiling point. • “Mysterious” sociological changes that influence our everyday life.
  6. 6. Oscar Gonzales Copyright 2013 Four Factors Shaping Our Future Content Communication Construct Consumers
  7. 7. Oscar Gonzales Copyright 2013 Content ………becomes King!!
  8. 8. Oscar Gonzales Copyright 2013 Content……..becomes King! The Internet makes its possible for buyers and sellers to find information and each other without the middleman. Consumers have little reason to pay for delivery that isn’t digital anymore, and digital delivery doesn’t create comparable monopolies to support content.
  9. 9. Oscar Gonzales Copyright 2013 Communication The Forms of Communication
  10. 10. Oscar Gonzales Copyright 2013 Communication • Many platforms that seem important today will likely be replaced in a few years. • The ongoing convergence of technologies, media forms and other aspects of our lives will continue to intensify the previous three factors.
  11. 11. Oscar Gonzales Copyright 2013 Curation “Often what I need to know before I use any What consumers trust has changed: of their expertise is Instead of an expert, they want to hear more about myself and from the source – my • The person who stayed in the room community, meaning • Ate the meal the people I trust. • Drove the new car • Got the home loan I could figure it out • Bought the house myself, but so often time is exactly what I Informati on Scarcity Informati on Abundan Information Overwhelm don’t have.” ce ~ The Consumer
  12. 12. Oscar Gonzales Copyright 2013 Construct Market Structures and Specializations
  13. 13. Oscar Gonzales Copyright 2013 Realtors operate in markets. • None operate in the same market in Market which they were composed, structured or functioned. Structure: • Consolidation is a common trend in Consolidations many markets. • Realtors are more different than they & are similar because of the demands of Specializations the marketplace.
  14. 14. Oscar Gonzales Copyright 2013 Consumers Choose what, how & when they consume
  15. 15. Oscar Gonzales Copyright 2013
  16. 16. Oscar Gonzales Copyright 2013 Profile of Realtors & Homebuyers • Median age of a Realtor is 56 • Largest share of homebuyers years old are 25-34 years old; Median age overall is 45 years old • 57% are female • 37% are first-time • 75% of Realtors have real homebuyers estate as their only occupation • 21 % are single females; 12% are single males • 9% of Realtors are foreign born • 15% of first-time home buyers are foreign born; 7% are repeat
  17. 17. Oscar Gonzales Copyright 2013 Profile of Realtors & Homebuyers • 56% of Realtors have a smart • 88% of homebuyers used the phone with wireless internet internet to search for a home and email access • 89% used a real estate agent • 91% of information on the or broker website is the members own listings • 30% of buyers used print newspaper ads to find info on • Almost 1/2 of members are homes for sale using social media. • 2% of buyers found the home • Realtors spend a median of they purchased using print $250 to maintain their ads websites
  18. 18. Oscar Gonzales Copyright 2013 For the first time in history there are 6 living generations in America. • GI Generation (1901-1926) Generational • Silents (1927-1945) Differences • Boomers (1946-1964) • Generation X (1965-1979) • Millennial’s (Gen Y) (1980 -1998) • Generation Z (1999 – present) • And………
  19. 19. Oscar Gonzales Copyright 2013 The Next 5 Years ??????
  20. 20. Oscar Gonzales Copyright 2013 Shift from Dependence to Choice Success in managing consumer choice depends on giving up the habits of the old uneven power relationships and forming a new more equal partnership.
  21. 21. Oscar Gonzales Copyright 2013 Shift from Dependence to Choice •More choices: accessed more easily •Smart phones and iPad’s •More kinds of choices •Not just when and how but increasing variety of features •Great ease of use •Voicemail vs. Text •Choice not to commit •They expect an option to make full commitment •Increasing sense of entitlement •As each new generation is offered choice, their standards go up and brokers and agents must respect the new standard
  22. 22. Oscar Gonzales Copyright 2013
  23. 23. Oscar Gonzales Copyright 2013 It will not be Business As Usual!
  24. 24. Oscar Gonzales Copyright 2013 Realtors Open Forum The Next Generation of Brokerage Sponsored by:
  25. 25. Oscar Gonzales Copyright 2013 The Next Generation of Brokerage Sponsored by:
  26. 26. Oscar Gonzales Copyright 2013 Convergence • To focus on who will win is to miss the point about convergence: The new doesn’t replace the old; the new and the old combine.
  27. 27. Oscar Gonzales Copyright 2013 The Tipping Point Is defined as: • The moment of critical mass, the threshold, the boiling point. • “Mysterious” sociological changes that influence our everyday life.
  28. 28. Oscar Gonzales Copyright 2013 When Did the Power Shift to the Consumer? • In 1950 with the introduction of a game-changing technology Newton’ s second law of thermodynamics was now in play: Objects at rest tend to stay at rest especially if they have had a long day at work.
  29. 29. Oscar Gonzales Copyright 2013 When Did the Power Shift to the Consumer?
  30. 30. Oscar Gonzales Copyright 2013
  31. 31. Oscar Gonzales Copyright 2013Consumers listen Technologymore to one another damaged thethan they do to traditionalmarketing messages purchase funnel.of advertisers inthe traditionalmedia.People are It’s not a questionincreasingly of technology, it’s aindividualist. They question ofescape any customercategorizing. relationships.

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