Recessions suck. Our business in the real estate industry is down, people are nervous and the general economic global environment is shaky at best. What good can possibly come from a recession? Vast amounts!
This recession in particular is an essential cleansing process. Unnecessary excess that remain unaddressed in booming markets are now paired down. Wasteful behavior is corrected, banks will required to be more transparent, and commerce to be more accountable. Does this affect our real estate industry? Only for those who intend long term survival.
Agents are aware there are newer and better ways to do business, and in very busy and prosperous markets, there is little time or need to make business model changes. Now with our slow recovering down market, agents are seeking just such a change and are looking towards their Brokerage to implement them.
The future of successful businesses is not just about “less is more.” In addition to less expense, a successful Brokerage must offer “more value” as well. I yawn at the sound of such kitschy buzz words so forgive the use. It is simply is true.
Agents are aware that office space is becoming less useful and more expensive each year, and therefore are attracted to the Virtual Office concept. But savings due to such a business model is not enough. The Virtual Office must offer the tools and technology to make it efficient for agents to run their business paperlessly and online. Agents must always feel connected to their office, Broker and their colleagues. Social relationships in the Brokerage must be easily created and maintained, and again it needs to be Brokerage’s business model that provides the methods and technology for these to form.
Cutting back and being conservative is a positive by-product of such a recession, but this will only sustain Brokerages a bit longer, not perpetually. The recession also creates opportunities for the creation of new sustainable models of operation, such as providing for the mobile agent and providing the social platform for on-the-go agents to stay connected.
Agents are far ahead of most Brokerages in recognizing their needs in this new and changed real estate profession and will be moving towards those accommodating such models at a rapid rate. Brokerages ready to accommodate the needs of their more tech savvy agents or looking to recruit younger generations of agents will have a more valuable business to market when selling their business on retirement.
RE/MAX Alpine Realty (an iREALTY office) in
Brokerages interested in learning more about the iREALTY concept are encouraged to contact me, to see if your office is suitable to add iREALTY features.
Jessica Stoner firstname.lastname@example.org 403-678-8006 cell, stonerjessica Skype address