Meet the 21st century real estate pro

Rather than ignoring technology, real estate agents need to embrace it to reach younger buyers.

24 February 2019 | Business

While many of us laugh at the results of the online quizzes that calculate the likelihood of a profession being taken over by a robot, the reality is that many career paths are being overhauled – if not overturned completely – by technological advances.

And the real estate industry is no exception to this reality.

“Last year saw many online-focused, low-commission operators enter the real estate market,” says Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett.

“Placing more of the bargaining power into the hands of both buyers and sellers, these disruptors shone a spotlight on the role of the modern-day real estate professional who has to compete for business within this environment.”

While the allure of saving money on commission is understandable, consumers need to remember the age-old maxim: you get what you pay for.

The reason these online portals are able to charge lower rates is because they put in less effort to make sure a property sells.

“In order to remain competitive, real estate professionals operating today will need to prove that they are able to sell a property in the fastest amount of time and at full value, unlike online operators who are often low-staffed, slow to respond, and do not have enough industry experts in each suburb to provide accurate valuations,” Goslett says.

However, rather than trying to demonise technology to set themselves apart from online low-commission competitors, real estate professionals will need to embrace technology in order to reach younger buyers who are entering the market.

“There is a need to blend both traditional and modern forms of marketing to prove effective in our current market. Most millennials are now either in the rental or first-time buyers' market, and both Generation X and younger Baby Boomers are active players in the market.

“Both digital marketing strategies, such as email and social media campaigns, as well as traditional face-to-face interactions and flyers drop-offs will need to be employed to ensure that marketing strategies are appropriate to all relevant age groups,” Goslett says.



Value for money

“At the end of the day, the battle between online versus real-life operators should not be fought around price, but around value for money.

“Consumers will always be willing to pay more if they know that the cost-to-benefit scale tips in their favour. So, while I do not foresee a possibility for the traditional real estate profession to be rendered redundant, I do foresee that as technology continues to progress, the pool of poor performing traditional real estate professionals will shrink, and only the most productive in the industry will survive.

“What's more, real estate brands that do not offer top-producing agents the opportunity to grow their own business and maximise their own success will therefore also struggle to survive in this changing environment.

“Soon, it won't be a question of what an agent can do for a brand, but what a brand can do for its agents – a question RE/MAX has been asking since its inception back in Colorado in 1973,” Goslett concludes.

Similar News

 

Future Females talk money

5 days ago - 19 May 2019 | Business

Is money your least favourite topic, and you avoid talking about it at all costs (excuse the pun)? Or maybe it's your favourite topic and...

Selling to the next generation

5 days ago - 19 May 2019 | Business

This might be a bitter pill to swallow for any millennial readers, but this generation is no longer the ­youngest to enter the real estate...

Kaalvoet in die kombuis

1 week ago - 12 May 2019 | Business

Windhoek • Yolanda NelHierdie entrepreneur se loopbaan het ’n nuwe rigting ingeslaan toe sy besef sy is nie tevrede met die produkte wat op die...

Do things differently, and do it fast

3 weeks ago - 28 April 2019 | Business

Windhoek • Jan Coetzee While developed countries are keeping pace with major technological advancement, developing countries – mostly in Africa – are still making...

For all your real estate needs

1 month - 15 April 2019 | Business

Imperial Properties, located in Nangolo Mbumba Street, Walvis Bay (next to Suidwes Total), serves the coastal towns of Walvis Bay and Swakopmund and facilitates the...

Big boost for cake shop

1 month - 14 April 2019 | Business

Jacky’s Bakery (trading as CakesForNamibia) was one of the recipients of an income generating grant from the Khomas Regional Council (Windhoek East Constituency).For Jacky Coetzee,...

Liefdadigheidswinkel open binnekort

1 month - 07 April 2019 | Business

Yolanda Nel Oor die waters is liefdadigheidswinkels volop en Windhoekers kan eersdaags self in ’n splinternuwe winkel kom snuffel vir ’n verlore skat of...

Coffee shop with a difference

1 month - 07 April 2019 | Business

If you're looking for a place to relax and recover from your everyday burdens, pop in to Cornerstone Christian Bookshop and Cake Décor shop located...

Little foot entertains

2 months ago - 24 March 2019 | Business

A newly erected chameleon structure is entertaining children at the Grove Mall of Namibia.Since chameleons are well-known for their adaptations to survive the brutal deserts,...

Purple Fig kook Libanees

2 months ago - 24 March 2019 | Business

Windhoek • Yolanda Nel As deel van 'n insameling vir die Purple Fig-kookskool, word 'n kookklas vir volwassenes hierdie week aangebied.“Ons bied elke 14...

Latest News

Toilet in hotel se plek

5 days ago - 19 May 2019 | Infrastructure

Okahandja • Yolanda NelTwee maande ná die Okahandja Hotel-gebou stil-stil in die dorp gesloop is, het inwoners nou 'n nuwe hoofpyn, met die rommel wat...

Met of sonder naam

5 days ago - 19 May 2019 | Local News

Windhoek • Yolanda Nel Wanneer jy Rehoboth se strate begin op of af ry, vra jy nie vir iemand 'n straatnaam nie, want boorlinge van...

Watertekort in hoofstad neem toe

5 days ago - 19 May 2019 | Disasters

Skaars twee weke ná die Windhoekse munisipaliteit aangekondig het daar is vooruitgang in terme van waterbesparings – hoewel gering – tree streng waterbeperkings op 1...

Klokkie van hoop

5 days ago - 19 May 2019 | People

Windhoek • Yolanda NelDie agtjarige Marjuné Fleschig is verlede Oktober met leukemie gediagnoseer.Sewe maande later kan die gesin weer ’n bietjie asemhaal nadat sy verlede...

Donated kennels making a difference

5 days ago - 19 May 2019 | Social Issues

Swakopmund • Adolf Kaure The Township Doghouse Project recently handed over doghouses to dog owners in the DRC informal settlement. The privately funded charity strives...

Aardse vreugde

5 days ago - 19 May 2019 | People

Windhoek • Yolanda NelOngeag jou eetstyl of dieetvoorkeure, almal is elke dan en wan lus vir 'n skeppie roomys of 'n pizza met kaas. En...

Chicken for beef

5 days ago - 19 May 2019 | Agriculture

Palmwag • Nina Cerezo Gabes /Goagoseb sits on his shady veranda. In the surrounding garden, cacti and other plants are blooming, a window of his...

Namibia still imports too much...

5 days ago - 19 May 2019 | Energy

Windhoek • Ellanie SmitNamibia is aiming to generate 80% of its electricity locally within the next four years, which will assist in sustaining the growing...

Beer Pong for Hope

5 days ago - 19 May 2019 | Social Issues

The Auas Valley Shopping Mall recently donated food and basic necessities valued at N$10 000 to the Hope Village in the capital, following the Clausthaler...

Load More