Nobu Hata, the director of digital engagement for the National Association of REALTORS® spoke to IAR’s association executives on Thursday, July 9, 2015.
Here are nine take-aways from his presentation:
1. If you are afraid of technology in the real estate business, maybe you should get out of the business.
2. Learn about the strange obsessions your members have. They do read: It just needs to be relevant to their business.
3. Embrace the Uber effect: On demand service with the ability to provide feedback through a rating system is expected. Yet, real estate agents resist this.
4. Regarding safety: Agents have to learn to say “no.” There may be requests or demands that place an agent in danger. He or she needs to be willing to draw a line and take steps to guarantee personal safety. Have a buddy, use the apps. Be smart.
5. Be visual: Do you have a brand manager?
6. Real estate does not have a Millennial problem. Real Estate sales has a Millennial problem. We aren’t doing enough to attract qualified young talent who don’t understand, for example, the concept of commission sales.
7. Rise of the pseudo-broker: Agents ask those (online forums, for example) for legal advise, take that advice and cut out the managing broker who probably has the best information. Why? On-demand world requires that if you ask a question, they have access to an instant answer from managing brokers.
8. Immersion: Some brokerages are moving to having virtual tours with properties and even holding virtual open houses. There are security concerns, but this is a huge issue with those looking for a complete home-buying experience.
9. One-stop shopping is the way of the future. Portals where you can get everything you need for a transaction are of interest. Is there a central place to get info/take action for financing, title and other real estate services?