| Selling real estate for a living stayed much the | | | | Telephone calls can easily be routed to the proper |
| same for decades. | | | | person, and as younger consumers enter the real |
| It is true that the rules about advertising and | | | | estate market, more and more will prefer |
| what a real estate agent could say to customers | | | | communicating via e-mail and text messaging. |
| changed in response to the Americans With | | | | Customers and clients won't need to see an |
| Disabilities Act and Fair Housing Rules. More | | | | agent until its time to view a home for sale or |
| paperwork was required to keep up with things | | | | until it's time for the agent to see their home |
| like Buyer Agency and a number of required | | | | before listing it. |
| disclosures. | | | | With the latest "file sharing" programs, everyone |
| But the way agents did their job stayed pretty | | | | concerned with a transaction can have instant |
| much the same. | | | | access to information, and will even be able to |
| They sat in an office and did "floor time," they | | | | digitally sign agreements. |
| placed ads in newspapers and homes magazines, | | | | But consumers will still want information and will |
| and they offered advice to buyers and sellers one | | | | still want to become acquainted with agents |
| at a time - sometimes via postal mail. | | | | before entrusting them with one of the largest |
| Then along came the Internet and listings began | | | | financial transactions of their lives. |
| showing up on line. One at a time, real estate | | | | Thus, the agents and agencies with the best |
| agencies bought URL's and set up their own | | | | websites will gather the lion's share of buyers and |
| websites. By 2005 the National Association of | | | | sellers. |
| Realtors reported that over 70% of all home | | | | What do I mean by "best websites?" |
| buyers began their search on line. | | | | Those websites that offer solid information that |
| Now, the last report I heard said that about 90% | | | | buyers and sellers can use. Not only will they have |
| of all homebuyers begin looking on line before | | | | easy search capabilities, they'll offer solid advice |
| they ever speak with an agent. And we know | | | | about buying and selling. |
| that sellers also go on line - searching for that | | | | Their virtual home tours will let prospective |
| agent who does the most thorough job of | | | | buyers "see" every room in a home, plus the |
| marketing his or her listings. | | | | grounds, the neighborhood, and the view. |
| With that in mind, my predictions for the future | | | | Important details about taxes, local assessments, |
| of real estate sales is that: | | | | and association fees will be disclosed. Room |
| 1. More and more agents will work from home, | | | | measurements and floor plans will be posted. |
| refusing to take "floor time." | | | | In addition, those "best websites" will include agent |
| 2. More information sharing will be done | | | | bios that let consumers feel acquainted with the |
| electronically than in person, especially with regard | | | | agents before they call. |
| to transactions in progress. | | | | Some will incorporate "live chat" and some will |
| 3. The agents and the agencies with the best | | | | make good use of blogs to let their customers in |
| websites will control the market | | | | on the latest market information. |
| 4. More and more agencies will close their physical | | | | With fewer customers and clients walking into real |
| offices | | | | estate offices, it doesn't make much sense for |
| Agents will begin to see floor time as "wasted | | | | agencies to spend hundreds or even thousands of |
| time" because fewer and fewer people are visiting | | | | dollars each month to maintain a physical office. |
| real estate offices in person. Thus, they'll choose | | | | So agency owners will lock up those physical sites |
| to work from a home office, where they can | | | | and turn to virtual offices - and those offices will |
| schedule their working hours around family | | | | probably be open 24 hours a day. |
| responsibilities and where they can be free of | | | | These are merely my predictions, but they're |
| "office noise" and interruptions when they need to | | | | based on trends I'm already seeing as I talk with |
| focus. | | | | my real estate clients across the U.S. |