Real Estate 2.0 Observations From The Street

I've been doing something the past few weeks that I haven't done in quite a while. I've been hitting the streets. Tuesday morning meetings, broker technology committees, training classes, you name it. I've been getting face to face with as many folks in the business as I can. In doing so I've made a few observations I'll share with you.

Observation I.
There are some very forward thinking people out there. There was some enthusiasm and activity surrounding new business models and the new rules of real estate. Some brokers are making some changes in business models and marketing that are bold, but wise moves in my opinion.

Observation II.
It's time for a little tough love. For the most part (at least at the agent level) it was like replaying presentations I made 10 years ago. The same questions were being asked and the same fears were being uncovered. Many agents were unaware of Web 2.0 companies like Zillow and Trulia. Blog is a four letter word that many still do not know the definition of. Industry events like the recent fed report on competition were unknown to many . The impact of social commentary/networking, listing distribution etc. etc. are issues that are largely ignored. The same "I just don't have the time to learn all of this" statements were being made. As I said in the meetings, I can empathize. There really isn't much choice in the matter though.

Transparency is forcing the methods in which an agent interacts with a consumer. Things are different now. The days of having everything happen by osmosis because of things like a Title company handling all of an agent's listing marketing efforts are gone. Consumers are armed with a great deal of knowledge and information. If I were an agent I would more fearful of not having the proper amount of product and industry knowledge than where I was going to find the time to learn it.

Observation III.
Attention levels were at an all time high. Most agents recognized that if they want to thrive in the RE industry of the future it would be a good idea transcribe "the writing on the wall". I've never seen more copious note taking.

Observation IV.
Brokers are getting with the program and providing agents with education and tools necessary to compete in the world of Real Estate 2.0.

Observation V.
Broker, Agent or Vendor. . . I think it's a great time to be in this business.