Hawaii Randy's Real Estate Opinions: The Real Estate Business is Changing Are You?

The Real Estate Business is Changing Are You?

This last year has been an amazing one.  I knew that the market and the rules would be changing.  Changes would be coming and they would be dramatic.  Those expecting them are not disappointed.  Those doing business the same way they did in years past are probably not doing so well or may have already left the business.

In my market, sales activity has cooled over the record sales volume of a couple years ago.  Sellers are seeing homes sit on the market for months instead of days.  They are looking for the best agent they can find and no longer just looking for the cheapest.  Buyers are on the internet and loaded with data.  They have a better knowledge of the market and the numbers.  They are also prescreening agents online before contacting them.  Real estate agents without a strong internet presence can't are not doing so well these days.

We went from having a website to have a blog like on Active Rain to now being on social networks and having multiple websites with IDX engines and multiple blogs.  Our listings a few years ago were posted on the MLS.  Today we post them on dozens of websites, have virtual tours and create a website for each and every listing with its own domain name.

Listing presentations went from tax records and comparable sales to now adding satellite photos, demographics, maps, charts, detailed marketing plans and computer demonstrations.  In this information age what we did a couple of years ago is no longer even the bare minimum.  You need to take it to a much higher level and you need to incorporate technology.

You also need to take your personal marketing to a much higher level.  Clients are looking at your personal marketing.  If you are not doing a good job of that, what message are you sending about the kind of job you will do for them?  Many of the new clients I picked up the last two years specifically mentioned my personal marketing as a reason.

Clients are looking at your bio.  Have you invested in your career?  Do you have professional development and designations?  I hear the argument that those are just alphabets and the public has no idea what they are.  WRONG!  They are on the internet and they are reading.  Even if they do not know what they mean, they know they need them.  While taking a class a couple of years ago the instructor made that very point.  When he had to have oral surgery, he had no idea what the designations after his surgeons name were; he just knew he needed them.  He did not want the surgeon without them.  I am sure in today's world he will GoogleTM them.

So if you do not feel the need to utilize technology in your real estate business, not to worry.  The world need ditch diggers.  If you are looking to buy or sell residential real estate in Hawaii, please check me out.  You will receive the VIP treatment.

I have to run.  I am meeting today with a new client who met me through my website:  www.HawaiiRandy.com

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 17 commentsRandy Prothero • April 05 2009 01:40PM

Comments

Randy - Amen to all of that! I am amazed that there are still agents who don't have a website, don't post property photos online, etc., etc. If they don't market themselves, how will they market their clients properties?

Posted by Michael S. Mackey, REALTOR ABR, CRS, GRI, RSPS (CENTURY 21 All Islands) over 9 years ago

Randy, the world has changed and the customer with the Internet is much more information age savvy.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) over 9 years ago

And to think....that some think taking one picture or utilizing the one picture mls has for the property is doing the best job for their seller?

Real Estate is an ever changing market...we change as it changes.

You're doing well this first quarter!

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 9 years ago

Randy, great info. Real estate is a changing industry. If we want to survive we have to adapt.

Posted by Tanya Venable, SEO, Mobile SEO, and Internet Marketing Consultant over 9 years ago

Sure it's harder today than a couple of years ago.  Of course that was before the Wall Street gangs killed the real estate industry and our economy. 

Now that the government has given them all of our money, perhaps they'll fix things.

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) over 9 years ago

Randy,

Everything is harder now than years ago...that's seems to be the same with everything...maybe because it's hard t trust people with the way the world is now and so much new technology it's hard for everyone to keep up.

Posted by Neal Bloom, Realtor CRS-Weston FL Real Estate (eXp Realty) over 9 years ago

Randy - it is a time of constant change, for us and for consumers. Agents these days really need to know what consumers are looking at on-line and how they are using the Internet, otherwise we cannot hope to be competitive. The challengeis to find what things are most effective, from a marketing perspective but also cost-wisse.  We also need to look at the ROT (and ROI), or Return on Time, coined by, I believe, Bernice Ross.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) over 9 years ago

Even in good times things change, and if we don't roll with the punches we will be left behind!

Good to hear from you again!

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) over 9 years ago

Randy, I have been in sales for about 34 years, and part of doing business is constantly following your market and where your business is coming from.  Times change, people change, business change, and we need to make the necessary adjustments, or wake-up one day wondering where it all went.   Hummmm sounds like a blog idea :)

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 9 years ago

There are people in my classes who stare at me blankly when I talk about the internet, lead generating, and social networking... it amazes me!

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) over 9 years ago

Those unwilling to learn and change will eventually find themselves losing business to those using the internet. 

Posted by Irene Tron over 9 years ago

Mike - There are so many agents without even a website.  I even hruyn into some who still hand write contracts.

Gary - Almost all of my clients are quite internet savvy.

Sally - There are many who never load a picture.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 9 years ago

Tanya - That is if we want to survive.

Lenn - They will spend our money anyway.  Whether they fix anything is yet to be determined.

Neal - I think even harder than keeping up us dealing with the information overload.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 9 years ago

Jeff - I think for me the Return on Time is the critical one.

William - You are so right.  I have not been on here as much.  Fortunately I have been busy.

George - I like the statement the change is not good or bad, it is reality.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 9 years ago

Donna - There are people in my office that do the same thing.

Irene - They may not just be losing business, but they are also missing a lot of new business.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 9 years ago

Randy, You are so right we are now a open book. People will research us and learn all they can to make sure they are hiring the very best.

Posted by Marie Westerman, New Homes Sales Specialist Evans GA REALTOR (Blanchard and Calhoun Real Estate/ Wilson Parker Homes) over 9 years ago

Marie - I think it is a good thing in many ways.  I find that new clients are easier to work with being they have already decided they want to work with me in most cases.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 9 years ago

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