In the 1990s, information was being placed on the Internet at an unfathomable pace. Every industry was affected (think about the music industry). In the real estate industry, client demands forced companies to publish their own listings on their websites. The publishing of all listings (not just their own) quickly followed. With this, a new, more-informed consumer was born.
But if this occurred in the 1990s, why is it such a big change today?
Well, with the ramp-up in the mid-2000s, many agents got lost. It seemed that all they had to do was wake up in the morning and business would just come to them. They didn’t need to adjust to this new consumer. Similarly, when the market soured in the late-2000s, many agents were left dazed and fighting just to stay alive. They couldn’t spend time focusing on this new consumer.
But today, with markets stabilizing, we need to turn our attention again to building our businesses and addressing the needs of current consumers.
And that’s precisely why this change is such a big deal today. The information you used to be hired to give, the information people turned to you for, is all over the Internet. Anyone can access it. Anyone can use it.
Today, the information itself is no longer what people come to you to receive.
They now come to you to receive an analysis of that information.
And that’s a big change!