Being a Successful Real Estate Agent is About to Get Even Tougher

New diversifying technology and access to platforms like mobile, phone apps and web apps are revolutionizing how the real estate industry conducts business. Sellers and buyers are starting to ask themselves if they really need an agent who would be paid a large commission to guide them through the process.

Sellers in a hot market like Vancouver’s real estate, knows that selling a house through a realtor means that they could earn a hefty commission that can easily total $40,000 for a middle class house.

While the infrastructure required to run a major realty firm is large and expensive, some argue that the huge commission structure is unjustified. In a hot market, realtors don't have to work as hard to turn over a piece of property as properties almost sell themselves. As well, when it comes to negotiation time, realtors might have little incentive to dicker over a few thousand dollars as it means little to their commission.

Having the Internet and Internet-ready devices has made it easier for buyers to browse properties and perform their own in-depth research before they even make a call to a realtor. The World Wide Web is abundant with how-to information, pictures and videos; would paying a realtor really be worth the money? Some people think there is value in hiring a realtor while some people dismiss the idea. To make things tougher for realtors, an up and coming company called PropertyGuys uses the net to connect buyers and sellers together while eliminating the need for a costly agent. So far, it’s the largest franchise company in the industry with over 123 franchisees across Canada and more than 10,000 listings.

Currently MLS holds 70% of all listings; the remaining 30% is done outside of MLS. Instead of worrying about companies like PropertyGuys and MLS, each realtor should focus on what it is that they do best. It is to provide their expert services and products that their clients have.

While browsing through hundreds of realtor websites, one thing I have noticed is that realtors are not doing any special kind of job of selling their services or justifying why sellers or buyers even need realtors. Their websites all look too similar; they are too self promoting and the text copy sounds like it was taken from the same sales manual! Buyers and sellers have evolved through the internet, they are now more educated and can see through all the awards and pretty self portraits. I could come up with over 20 questions and the explanations of what each realtor should talk about on their website. Instead, the majority of realtors take the easy way out by placing an application form that asks a visitor everything but their SIN number thinking that they would send in requests on a daily basis.

The biggest question that a realtor should ask is: Am I doing them a disservice by not making my website easier to find? How can I make my site more consumer-centric? What can I do in order for them to find my website instead of my competitors?

Having some competition is a good thing; it keeps people on their toes. It keeps an industry moving and in an innovative mode which enables everybody to benefit. Instead of worrying about your competition, revisit your website and ask yourself the above questions.

Am I actually ready for the Web?




FindMaster Marketing Inc.
Vancouver Search Engine Marketing Company.