The Future of Real Estate | AI Blockchain Software Cryptocurrency Bitcoin and the Housing Market 2018

The Future of Real Estate

While housing markets in US cities waffle back and forth between market crash and price peaks, homebuyers, property investors and Realtors are wondering what real estate will look like in 5 to 10 years time.

Courtesy of Pinterest — kevin-miller-0125.blogspot.com

In this post, we look at the future of real estate technology (Fintech and Proptech). If you’re a homebuyer considering buying a house, these changes affect how fast you can buy and sell, and how your gain could be thousands of dollars.

When is All This Happening?

Changes are here now. Realtors and Brokerages will have to alter their roles and value proposition to add new value rather than being transaction facilitators, and find new opportunities that are appearing. New tech brokers have already arrived but they don’t have it all figured out yet.

When usage hits whats called critical mass, that’s when real estate businesses will adopt it completely as the new standard. It’s about more than blockchain in real estate alone.

Of course there’s resistance to new tech such as blockchain and bitcoin in real estate. Blockchain is tranformative. Yet when someone like rexmls lost $1.3 million mistakenly sending cryptocurrency to the wrong address, we know there is risk all round.




Realtors, investors, lawyers, mortgage agents, title/escrow people, and homebuyers are about to see the real estate exchange and financing business streamlined.

For instance, it’s estimated that 50% of major corporations will switch to blockchain business technology this year. Blockchain by itself is rocking every industry including real estate.

I’ll introduce blockchain and bitcoin below in more detail. In a nutshell, blockchain is the software platform that’s underneath Bitcoin and other cryptocurrencies. While Bitcoin is well known, it’s actually blockchain that has the best potential for all industries.  For some of us, this change is exciting. Change means opportunity.

I know you’re curious about Bitcoin cryptocurrrencies and blockchain, but understanding them technically is really tough. You don’t need to be an expert, but you may want to know what is driving this coming change.




2018 Housing Market Reports

Check out the Sacramento Housing Market, San Francisco housing market, Los Angeles Housing Market and Florida housing market forecasts.

The Blockchain Opportunity

Instead of being threatened by the progress to digital real estate via blockchain and other technology, Realtors, lawyers, investors, builders, property managers and mortgage agents should welcome the opportunity of this new era.

Here’s a small list of blockchain startups that have jumped at it.

And the key opportunity might be in first mover advantage. Realtors might redesign their brokerage to utilize RETS IDX listings, AI driven marketing, and blockchain-based transactions.  It’s early, but the right time to learn.




What’s coming is an era of weakening monopolies, greater efficiencies and perhaps lower home prices.

You can imagine how the establishment would like to maintain the old paper-based, complicated transaction process that allows the banks and big real estate brokerages to guarantee their cut of this $116 Trillion dollar global real estate market.



New tech entrepreneurs relish usurping the dominant role in an entire, lucrative industry. They’re motivated. The high rising price of bitcoin should tell you that something big is brewing. They’re already at it in real estate.

Real estate sales using Bitcoin or Ethereum are adding legitimacy to the use of cryptocurrencies in the real world” — Manuel Perez of the Coral Gables, Fla.-based Elizabeth Perez Team. Screen Capture courtesy of Housing Wire

What’s Driving the Push to Blockchain and AI?

The real cause of this future is the high cost of real estate, monopolies, and the over-complicated/regulated process that real estate professionals must follow to buy and sell homes. It raises prices and slows transactions. And younger consumers don’t like the ring of “million dollar homes.”  They like this new technology because they think it will save them money.

From smart contracts to Bitcoin currency to fractional ownership, and artificial intelligence driven buying and selling, the entire real estate industry is about to be streamlined. From finance to construction, blockchain technology in particular is about overwrite the sector. Real Estate will be hard to recognize.

But can the big companies control blockchain to keep the market to themselves? That’s very unlikely since blockchain opens everything up to innovation, transparency, ease of purchase, and lower costs. Buyers will find that very hard to ignore, as will real estate professionals. The smart Realtors will be on this now, to give themselves an advantage in branding and expertise.

Realtors may not have to be blockchain experts, they can use the myriad of blockchain applications and services that will be available. It could be a period of entrepreneurship and creativity for Realtors, and for home buyers and sellers as well.



Who Guards the Status Quo?

Brokers, marketing, banking, retail agents and others facing sudden disruption may enjoy their monopoly and legal power to keep the old system intact.

This new wave of well funded cryptocurrency, blockchain and Realtech startups change the game and playing field. The new blockchain based system is a completely new approach to transferring ownership of property from one party to another. With Cryptocurrency, the banks, mls associations, forex companies, and others could be completely bypassed.

Even the mortgage industry is seeing new startups that offer reduced costs, fees and fraud, and improved efficiency, speed, and transparency.

 

Sharing is Good for your Social Life — Make Sure others get an introduction to the new technology on FB or Linkedin

Change from Many Directions and It’s Just Starting

The future of real estate will see disruption from many sources, technological, cultural, financial, and political.

The $36 Trillion US real estate industry is pressured by issues of complexity, affordability, frustrated demand, housing development restriction, rising interest rates, competition, big data, blockchain, and more. They’ll all play a role in a complicated forecast amidst an uncertain economic outlook beyond 2020.

Will you be buying your next home via an app using Bitcoin? Should you even buy a home, or rent? It’s not only about techno changes in 2018. The future of real estate involves lifestyle, economic, and investment factors.




Will Realtors and Financier’s Roles Change?

While removing the middleman might be the uber utopia for tech-obsessed 20-Somethings hoping for a price break on a million dollar house, it will not be easy to push big banks, MLS’s, state govnernments, and real estate companies out of the future of real estate. Politics, law, habit, and need for expertise will ensure Realtors don’t fade away too quick.

Propy is a new blockchain based online brokerage serving the world

Realtors, MLS associations, and big brokers control the mls data and in this day age data monopoly is how you eliminate competition or gain monopolies.

A number of tech driven competitors are disrupting and trying to weaken the current megalopoly in real estate markets. Thus far they haven’t been able to land a decisive blow. Big Data may be the weapon to topple the traditional system unless the big brokerages learn to utilize it somehow.

Technology driven companies such as Zoocasa, Zillow, and Compass are growing fast and making inroads on various MLS and Realtor competitors. The fact that the majority of Realtors have few listings or sales and aren’t well supported by the big brand brokerages means these tech companies have opportunity with their own hungry masses of agents. The fact the big brokerages don’t share information with agents now, tells you that Realtors would jump ship quick.

And for consumers, a reduction of commissions and expansion of marketing capabilities means consumers might gain from new tech entrants. And in terms of streamlining, it’s estimated that closings could be reduced to 10% of their current duration.

Yet the MLS associations and brokers hold a lot of data and can keep it out of the hands of real estate startups. Legal battles are raging, but the MLS’s aren’t winning the wars.

Propify, an Australian startup, hopes to leverage the technology into a one-stop shop for home buyers. Drawing from various listing sites, governmental databases and social media, the software company aggregates all available information about available properties into a single space, sourced from a blockchain – from Real Estate Weekly.

Who Owns Big Data?

Big Data is owned by big tech, finance and retail companies right now and the battle over who gets access is being waged. The data is so important, it stands to reason that a few companies would not be permitted by government to own it or leverage it for massive monopolistic wealth. However, that conceivably could happen in the Amazon era.

If everything from finance, real estate to AI driven robots, having it locked and controlled by any money hungry company could bring the system and economy to halt. Big data and open source access will have to be made a basic freedom.

For that reason, how could the NAR or MLS or anyone hope to monopolize their data and market access? It’s a losing battle.





The Coming Blockchain Revolution in Real Estate

According to Forbes, real estate venture investors deployed over $5 billion in real estate technology in 2017. That’s 150 times the $33 million invested in 2010. Blockchain is just one part of that investment.

Blockchain technology is important to the commercial real estate market since it streamlines processes, reduces fraud and cuts costs

What is Blockchain?

A blockchain is a secure network of computers that creates as a living ledger for transactions. When the record is updated with new information — the signing of a contract, the movement of funds, the transfer of ownership — it is updated and time stamped in every computer simultaneously, whether there are two dozen or 2,000. The records are the blocks, the network is the chain — from Real Estate Weekly.

Blockchain technology and cryptocurrency  may influence how real estate is transacted in future and who will participate in buying and selling.

Coinify states that blockchain will speed up real estate transaction, decrease fraud, and increase transparency. For those who worry about international money laundering and organized crime, Blockchain could cut police and investigation costs. Blockchain offers a real digital paper trail.

Blockchain leverages mls type housing data and makes it usable on a larger scale. So the potential power of blockchain systems will threaten the data monopolies that exist in some states and mls districts.

Direct Transaction between Buyers and Sellers

The rewards of listing on a blockchain accessible system will be too much for homeowners and real estate agents to resist.  With blockchain technology property and transaction information is published to a public ledger giving all parties access to the home-buying or leasing process.  Owners, tenants, operators, and service providers will have access to this stream of incorruptible data. The buyer and seller deal with each other directly.

According the IBREA, “Blockchain offers an open source, universal protocol for property buying, conveyancing, recording, escrow, crowdfunding, and more. It can reduce costs, stamp out fraud, speed up transactions, increase financial privacy, internationalize markets, and make real estate a liquid asset.”

How To Buy Real Estate Using Bitcoin

Yes, a lot of people want to know.  I’d advise reading this post on HGTV to get started. Will you still need a real estate agent? Yes, and a real estate lawyer to review all the documents. And these people are insured just in case something does go wrong.

However, make sure you trust the second party if you’re thinking of buying into real estate. “If you want to reverse the transaction due to any litigation, then you need both parties to be compliant,” says Jake. “Bitcoin transactions are not reversible.”  — HGTV




Bitcoin and Real Estate

Cryptocurrencies such as Bitcoin are highly volatile right now, however once they stabilize, homeowners will not balk at selling in Bitcoin. The bitcoin cryptocurrency is set to rock the banking and retail industries, so why not real estate?

Need to know how to Buy a House or Condo using Bitcoin?

Real estate can be a lucrative business yet the drive for cost savings and high prices makes players investigate and try out different solutions. Real estate agents, landlords, mortgage agents, and others have been reluctant to adopt software solutions for fear they would lose competitiveness. The future of real estate is technology in almost every area.

However, that intense competition is yet another driver of the kind of change that could see agents and brokerages disappear. I hope that’s not you, but let’s say the flock is culled. What kind of new real estate sales environment is being created and how will you adapt? There’s opportunity in everything.

Younger Buyers Love Choice and Apps

Millennials are the biggest, most wealthy group of consumers now and they’re proving to be brand agnostic and want open source everything. Throw in millions of wealthy young Chinese immigrants/investors, and you can guess that tradition in real estate is about to be replaced by a new culture — the Uber culture mostly online. On Tech.co, Boris Dzingarov suggested 3 factors will change real estate marketing greatly:

  • Video
  • Mobile devices
  • Online reputation management





Yet, many agents are using video, have already set up mobile friendly sites, and even dressed up their Linkedin and Facebook pages. And they’re not anymore disruptive than anyone else. I think what may mark the new agent is using technology and digital marketing to connect with more prospects.  What may be difficult for them though is that homebuyers and sellers may not accept their pitches. If you can’t go to them, then you’ll have to show up online so they can reach you.

If you have no digital marketing strategy to connect with prospects, make an impact, and remain visible online (top realtors are taking it all for themselves) then perhaps the forecast is as stormy as Dzhingarov is predicting.

Why Agents Will Still Be Needed

Currently, 80% of home purchases are conducted using Realtors, and given the various services they handle, it’s hard to conceive they would be made completely redundant by blockchain or other technology.

Here’s where we can’t do without them:

  • better knowledge of local neighborhoods
  • assessment and advice on contracts
  • real human advice on quality of the property instead of property data collected
  • price negotiation with buyer or sellers
  • spares you the anxiety of buying and selling real estate online
  • help you get a higher price through staging, presentation and sales support
  • arranges inspection and home showings – saving you time

The Outlook for Real Estate Brokers

I’d like to take a moment to discuss what I see happening in this industry. Here’s the top 15 disruptions that may hit the real estate biz in the coming years:

  1. Real Estate Teams – teams loaded with extra services will battle it out with discount brokers to offer better service, particularly in the luxury real estate market where Luxury realtors will go the extra mile.
  2. MLS Data Freely Available to Everyone – no secrets for realtors to use as a trump card. Homeowners will feed home stats to online vendors who will provide increasing marketing power for them.
  3. Social Media Growth – Realtors will expand their circle of contacts via Linkedin and Facebook, and home sellers will look to engage more buyers to get higher bids for their client’s properties. Social media engagement will keep them connected and actively top of mind to prospects, as other realtors impinge on all their clientele.
  4. Content Marketing – more sophisticated and engaging visual content such as interactive infographics and pdfs, and interactive home tours will let buyers drill down quickly to everything they want to know about the home and neighborhood.
  5. Sophisticated Video – slick videos with aerial shots and stunning quality will become templated much like WordPress web sites are now
  6. SEO & SEM– optimizing for whoever is looking for real estate or wants to prepare for sale. This means having a good SEO is critical for inbound marketing, link building and MLS listing optimization. PPC advertising and remarketing ads will play a role too.
  7. Trustworthiness – the insecurity of Uberization will mean parties will be scrutinized for their reputation and professional credibility. Those realtors that have this all laid out strategically will pass the cred test.
  8. Thought Leader/Advisor – generosity of key realty knowledge will influence because real estate is an expensive investment that the average Joe homebuyer doesn’t understand. The realtor’s role will evolve to become a trusted advisor.
  9. Complete Property Transactions Done Online – from bids to closing costs, every aspect of the transaction will be done online, perhaps via a large tablet device connected to a printer. See Realtypoint’s excellent post on this. 
  10. Google, NAR and CREA will lose control of the online realty market – homeowners will list with online entities for exposure and pay minimal fees.
  11. Property Management – More brokers and agents will move into the property management and mortgage business to create more relevant clients, retain them, and build visibility.
  12. More Real Estate Agents Will Go Out of Business – deals will disappear, commissions will fall and competition will be intense and only those with huge client bases will make it.
  13. Clients will gravitate to Large, insuring Finance Comapnies – these firms are capable of insuring transactions, because regular consumers are likely to make big mistakes. Right now of course you and your brokerage and (CMHC in Canada) or (FHA/PMI) in US provides it.
  14. Niche, Boutique Brokerages – they’ll have an edge in relevance, usefulness, and attraction to many buyers and sellers – particularly brokers that offer a la carte services, and prove they have specific types of buyers for a property (e.g., Chinese or Middle Eastern buyers).
  15. Intense Hyperlocal Focus – realtors and teams will use outdoor advertising and social media to dominate local markets.

The Uberization of real estate has already happened. I’m wondering which new Zillows and Trulias rise up to serve this new market? No doubt it’s being discussed in boardrooms right now. [Note: I was invited recently for interviews for a senior digital marketing position with a big, new up and coming lead generation business in Toronto].

Where Will You Be in 5 Years?

The point of this post is to ask you where you’ll be in the coming years and whether you will have initiated the steps to build your future realty business. It’s wise to start planning and connect with the people who will help you grow and sustain it.

What are you thoughts? What changes do you foresee? Will 2018 to 2020 look much different for you and your brokerage? What are you doing to help you survive and thrive in the blockchain era? 

Speaking of hot markets, read the forecast, outlook, and predictions for housing in Toronto, Los Angeles, San Diego, and Vancouver.

 

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How to Sell Homes at Over Asking Price

Sold at $1 Million Over Asking Price

2 recent news stories in Toronto and Vancouver MLS regions really bring home the current state of real estate and real estate marketing now. The news stories both report sales of properties at $1 million above asking price. It’s mostly driven by a lack of new housing development.  In Vancouver it’s a lack of land but in Toronto, it’s government policy.

That means bidding wars will grow in number and home values in 2020 may be much higher than they are today. The Toronto housing outlook is still very good.

“You know you have to go above asking in this market right now. I absolutely feel bad for buyers. Nowadays, all I can say, is it’s whatever people are willing to pay.” from a CBC news story.

onemillIn the UBER era, what is your realtor unique value proposition? The whole issue of getting your clients the best price may revolve around great internet marketing along with terminology and tone of voice. I’m sure if you included “over asking” in your slogan or at the top of your website homepage, you’d be in for criticism. Yet if “over asking” is normal shouldn’t your marketing strategy adjust to it?

If there’s one sure way, the one way if you had to choose to create a bidding war and enable an over asking price result, it would be a powerful online marketing strategy – via Google, Facebook, Twitter, and your emails to your vast sized prospect list. There are many times more buyers online right now than on your own list. And some of those buyers are from the Middle East, China, Hong Kong, USA, and even Russia.




Anyone selling a home in Toronto,  Vancouver, San Diego, San Francisco, Boston or Los Angeles, who doesn’t consider an above asking price strategy is basically giving away money. As an investment, a seller’s goal is to get the best ROI as this money could get them out of debt, be their retirement fund, kids education fund, old age health fund, or bucket list fund.  That extra money could help sellers revive their lives and get their health back. No more commuting!?

I feel sorry for sellers who sell their house in 3 days when a little 2 to 3 week strategy could build interest and focus buyer intention on one special 3 day period where buyers must make their offer. You’re a salesperson and should have extensive expertise in sales strategy.  Below, you can see Hans Ohrstrom of Newmarket, ON is building a reputation as a guy who gets the right results. This is what you should be doing.

hans            kupeng

The Changing Mores of a Business Culture

There doesn’t seem to be any ethical absolutes in pursuing the best over asking price benefit for clients. If your broker/mls/realtor association has said anything to you on the matter, I’d like to hear about it. The old paradigm that the client’s best interest is a “normal price” that’s affordable for buyers has disappeared.  More investors/buyers

Almost every real estate organization stipulates acting on the client’s best best interests. I’m not sure how you can reason that one out by getting involved in a client sale and come away looking squeaky clean.  And then there’s the “over asking price” value proposition. Is this the next Gambit for aggressive marketing realtors?  Given the number of rich buyers now, it’s pretty safe to offer it as a time limited selling proposition. And if you have big money yourself, it’s a limited risk that you’ll get hurt even if you lose on one or two deals.

Realtor.com on Over Asking Prices

Realtor.com‘s advice is nothing new to you:

“The most fruitful strategy.. is to aggressively price the property roughly 5% to 10% below the going market rate. This will always generate more traffic to the property and give buyers a chance to fall in love with the home, when a higher purchase price might have kept them away initially.”

Here’s a few more Over-Asking Price Tips:

  1. hold back and tell buyers there are other offers, even though their offers aren’t huge
  2. approach investors to look hard at the property
  3. get the seller to update the house to eliminate negatives and play up the main selling value proposition (in Vancouver it might be the views, or just the location (tear downs or flips). You may even decide to change the style of the home (brick facades, or Asian, or Arabic styling could really pay off). See what the most attractive styles in Kelowna BC  are right now.
  4. be proactive, and like you’re in charge: do the landscaping or roof repair yourself and deduct that from your commission which preempts any attempt by the seller to cut your commission.
  5. do blitz real estate marketing with Google Adwords, remarketing, select outdoor ads, and play up the property to all your Linkedin, Facebook, and Twitter connections. If your site is ranking well on Google and you’re getting big traffic as well, you can actually create the bidding war climate. Timing is everything so think about how you can market strategically.

Isn’t it about time you got about your real estate career? Could you be one of the very smart ones and begin launching your own brokerage? We’re well into the Uber real estate era. The next real estate mogul will be a real estate digital marketer, just like Uber has no taxis and Airbnb owns no rooms themselves. This is a whole new ball game. Be smart about your future.

See Realtor.com’s post on which upgrades produce the best results, and which home styles sell well.

 

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Instead of Fearing Disruption, Why not Leverage It?

Why You Should Believe in Disruption

The word disruption means entirely different things to many people. Increasingly, it’s becoming a very positive word in our vocabulary, particularly digital marketers. As you can see in the graphic above, disruptive companies are thriving. Is your business disruptive, or being disrupted? Are you looking beyond the waves of change to see what’s on the horizon?

Someone has to modify how things are understood and done. That modification is called disruption. Let’s not confuse disruption with new apps on Google play. This is about new ways of fulfilling your customers.

In fact, if you don’t disrupt your current unique value proposition and brand promise, you’ll find customers fleeing you and your advertising. The new disruptive business model makes your business relevant to what’s happening online and in customer word of mouth. Keep pace, and even Google will find your business and domain more relevant. You need to infuse the promise of disruption into your marketing.

Dr. Lalia Rach, said, in an interview before her  presentation on Navigating the Era of Disruption, about the recent M&A’s and whether that would create change in the hotel industry: “I wish I could say that it would push the industry forward, out of the past into today and tomorrow, but I am not convinced that will be the result. The need for progressive, thoughtful difference has never been more pronounced yet too often what we see is bigger companies doing the same thing.

Disruption in Real Estate, Hotels, Travel, and IT

In real estate and hotel industries, customers have more options. After they visit your site, they go to many other web sites for realtors, mortgages and insurance or for restaurants, tours, local attractions and experiences. They’re looking for a solution that resonates with them.

What they’re looking for is the best compelling, relevant unique value proposition. Helping them feel and want that new unique value proposition is the correct promotional goal. They’re leaving your site because they don’t like your unique value proposition and they found your customer experience lacking in satisfaction. It isn’t your web design, or your call to action, your flyers or drip email campaign. The bar is raised and you have to bring in real value.

If you’re still reading to this point, it means you’re smart and you have the kind of determination to persist to create the right solution. I’ve learned that cheap solutions don’t fool anyone. You need to disrupt, evolve and outcompete to win.  Traffic is good only if you can convert them to customers. You should be asking “what is the best relevant, compelling, unique value proposition and how can I make them feel this?”  Because their emotions do the buying.

In the case of Airbnb and Uber, people love the feeling they get when they save money or experience transportations and accommodation in a new way. Taxis and hotels must disrupt their brand image to provide a richer experience than a “ride and a room.”  How are the major hotels doing lately?

hotelstats

Uber and Airbnb are Telling us Something 

airbnbsmallThe success of the ride sharing business Uber gives us more warning that our business and personal lives are being disrupted at a faster pace. Here’s a regulated sector that’s getting deregulated quick by popular demand. airbnb too breaks the mold and lets anyone vacation cheaply.

It’s easy to see that rapid change is only being slowed by government regulation.  However, in a global economy, governments are learning they can’t stop disruption.  We’re learning we need to know more about it and how to use it ourselves.

Service businesses that don’t use social features to lower barriers and increase efficiency will likely not survive long — from a Bloomberg report.

Smart entrepreneurs aren’t just learning about disruption and reacting to it, they’re actively applying disruptive techniques to create a competitive advantage. Adopting social media is disruptive. The new digital marketing is actually forcing professionals to change how customers will experience their service. I’m suggesting that you learn it and love it, apply it creatively and not just view it as some dark threat.

This post is also about your evolution from old school to new digital omnichannel marketing. You already know traditional marketing is dying as your customers plug into more digital channels. I’m stealing back the phrase omnichannel marketing from the retail people because retail is dying too. Retail gurus have tried to disrupt by relegating digital channels as a subset of retail. Sorry retail people, no can do. Digital is too basic to the market and comes before retail. Retail is a subchannel of digital.

Helping You Get Ahead on the Adoption Curve

You’re leaving money on the table. I’d like to help you use disruptive techniques to avoid losing more sales. What is this big disruption?  It’s innovating your business to become what the market wants. It’s the disruption of old school systems and practices.  Airbnb did it. Accommodations are cheaper and more plentiful. Now everyone can vacation. And Uber did it in a noisy way.  So many taxi drivers suddenly plunged into the digital networking and sharing economy. And no one can throw them a life preserver. Is the Uber wave about to hit real estate next? (29,000 people obtained their realtor’s license last year in Florida. That alone is disruptive. And why are so many people getting into real estate?).

Why is digital omnichannel marketing so important? Because it provides better reach and impact, and it has the power to connect you with your customer’s decision journey. It can disrupt their journey and provide an alternative seamless customer experience. That’s precisely what Uber did and it’s putting the traditional taxi service out of business. Soon driverless cars will hammer in the final nail.

If you’re about to be disrupted out of business, there’s hope.

It’s far better to look at the current methods for doing things, and then ask yourself a powerful question: Is there a far better way? That simple question, coupled with an understanding of what can now be done with the latest technology, will give you amazing and powerful answers — Daniel Burrus, Futurist 

Evolve to Match Up with Disruption’s Opportunities

If you look at the real estate, mortgage and insurance segments as an example, professionals and brokers alike haven’t evolved to adopt new tech solutions. They’re barely catching up in 2016. They’re now trying new solutions range from online purchasing and account management to omnichannel digital marketing.
omnichanneldisruption

The big movement today is in avoiding travel time, and evading paying the fees of auto repairs, taxes, fees, phone company bills, utility bills, cable bills, insurance agents, mortgage agents, and real estate agents. The younger generation doesn’t have enough money or time and neither do older generations. Consumers see these are burdens not assets. Does your UVP need to persuade them otherwise?

Omnichannel means Total Connectivity to Customers

Some even believe that omnichannel isn’t enough, that we need to actively create disruption to make enough of an impact and provide a true seamless customer experience. Omnichannel provides better data/feedback from customers thus building better customer profiles and generating more opportunities to connect with them. And it’s hard to argue that being everywhere with great content is a bad thing.

 

I’m not suggesting omnichannel digital marketing is easy or that you can disrupt your market easily. Most rich, enabled marketing companies can’t do it well, but you have some advantages:

Perhaps the Key Benefit:  having a complete omnichannel digital business strategy lets you get your unique value proposition across very clearly. This will distinguish you from 30,000+ other salespeople in your market.

Too small to compete? Attack a niche market:  Small niche players can respond with more agility and relevance than the big brand dinosaurs. Big companies fear small agile companies will erode their marketshare.  If the Dow Jones falls, it’s because small biz America is gaining traction. Small biz entrepreneurs are more informed now and finding ways to outcompete big companies digitally and personally.

Consumers are becoming brand agnostic: — meaning the words Apple, REMAX, and Rogers don’t impress them. And they don’t put much faith in them. Your new niche brand can actually loom large in today’s markets. Digital channels actually put you in the driver’s seat and allow you to grow faster. As a Realtor and mortgage agent, you can start your own brokerage and do very well.

Omnichannel Marketing Makes you Omnipresent

The terms Omnichannel or integrated digital marketing describe a process of using multiple channels together – search, social media, sms texting, web to text, email, remarketing and PPC advertising. To know how to use them, we have to study our customers — what do they want and which channels do they use? And what kind of customer experience would we be capable of creating?

Multiple channels create more touchpoints and leave a more complete impression on visitors. Some visitors leave, but customers keep on reading because they feel a greater connection – a better experience. For instance, when they visit your Twitter page, they see a quick summary of issues they need to know about, and which you can solve. It takes them only a minute to get a wealth of info about you and your unique value proposition. You can respond by encouraging them to connect any way they like.

When they see your blogs, they can see how deeply you’ve reflected on solutions and success, and your services pages tells them how good your solution is. Using Facebook, you can get more personal and make them care. Just in using 3 channels you’ve made yourself relevant and shown intelligence and thought leadership. With all channels, you build transparency and trust.

So, in that sense, it’s all very simple. Your mastery of digital networking and marketing communicates your UVP clearly, and makes you relevant, likable, credible, 3 dimensional, and trustworthy, and strongly connected.

How Will You Disrupt your Market?

  1. make customers aware of their needs through multiple marketing channels
  2. segment your customers and develop disruptive, engaging content that responds to their individual beliefs
  3. tell customers they can connect with you any way they prefer
  4. remind customers that it’s all about them and how you’re inline with their lifestyle
  5. show how you’re faster, better, more rewarding, more informative and modern
  6. show them how you deliver better value point by point with video, copy, and other engaging media
  7. create conversations with them using several digital media and with a phone call
  8. show them how their values are relevant — validate how they connect with you
  9. spoon feed them bits of information via different channels that lead them to the right conclusion and choices
  10. make previous channels and marketing approaches seem obsolete and show how they waste time and energy

You’ll find my blog is full of disruptive ideas, however it’s not enough to disrupt. There has to be a clear path to your solution or anxiety will cause a visitor to shut down. Get them to see your UVP clearly using all the media available to you. Then a gentle call to action should push them to the channel they prefer. Which channel they prefer tells you a lot about your customer. Linkedin is very different from Twitter or Facebook or email and a phone call.

Contact me today whatever way you prefer. I’m sure you can teach me a lot about your preferred media. I’m ready to learn! and help you disrupt and capitalize on opportunities this year. Let’s talk right now.  What could it hurt?

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