Social Networking

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“Face It!  Doing Business Has Changed!

The essence of the real estate business is the ability to socially interact and network within the community.  As long as there has been the industry of selling real estate, it has been the relationship building that fueled the next listing or buyer’s representative.  

 

“Networking” required membership in the Chamber, the Rotary Club, Business Associations, the PTA and any other organization that got your name in front of the public.  It was as time consuming as the time required to run your real estate business.

 

Marketing your business required erecting as many signs in the community as possible to expose your name and phone number, hoping that the phone would ring.   Advertising in the newspaper and magazines was expensive but necessary if you were going to have any chance to get the edge on your competition.

 

Then one day, the technology of computers, cell phones and the internet began to change the way information was communicated.  Information was more accessible to the agent and the buyer.  We entered into the age of the information highway and everyone wanted to get into the fast lane. The public began to be exposed to the information that only agents had exclusive rights to.

 

This new technology is changing so rapidly that unless you are exposed to it every day, it will pass you by like a runaway train.   Just when you think you have mastered the latest and greatest, they come out with something faster and more incredible.   You either adapt or you will be left behind.

 

The millennial generation has embraced Facebook, Twitter, and Youtube as their “Social Networking” tools.  It is instant information and immediate gratification from a response.  It has revolutionized global friendships and moved nations.  It brings families closer and reunited old friendships.   It is the new venue to spread the word that “you” are the “one” that is best for what “they” need.  Why?   All of your friends are now globally linked to you for the first time.

 

Buyers are very sophisticated and well informed.  They use the new technology to their advantage and demand more of their agents for less.  Online shopping is decimating the classic department store.  Unless we as an industry embrace the new technology and use it to our advantage, we will have to face the fact that we will be sitting by the phone waiting for buyers to see our signs and hope someone will call.

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