Today’s successful mega-producers are generating plenty of business, but unlike the customers of yesterday, today’s real estate customer is beginning online. According to the latest figures, in excess of 90% (94%) are beginning their search online. In my last installment, I explained how successful agents today are going way “upstream” to capture their business — before the customer has had the opportunity to be attracted by old-school marketing techniques. If you haven’t read it yet, you owe it to yourself to start there.

In my last post I discussed the difference between yesterday’s pull marketing and today’s push marketing. I explained how pull marketing is reactive — “If you build it they will come.” Push marketing, on the other hand, is pro-active — “If you build it they won’t come so you have to go get them.” (Click to view previous blog post.) Many agents today have experienced that very phenomenon: doing lots of advertising and getting little if no results.

When CNN’s Pulse on America program featured us two years ago, they were investigating an interesting phenomenon in our industry. Click to view video. It seems that today there are two real estate worlds coexisting simultaneously. Like in the movie The Matrix, there was the “perceived” world and then there was the “real” world. In our industry there is much the same today. Those agents who are practicing real estate this new way, are doing quite well — many better than ever. But those who are hanging onto the old-school real estate model are finding themselves working harder and harder and making less and less money.

For 2 yrs I have avowed this correcting market to be the biggest opportunity we have experienced in over 2 decades.  Some of you have agreed and some of you looked at me like I had “luny” written on my forehead.  I still believe this is the window of opportunity we pray for.  To prove my conviction, I have ventured into a new real estate company in Tucson, AZ.  We just opened a new 5,000 sqft upscale office in the foothills of Tucson.  I believe this new office is a model for future real estate companies.

I just love the youth – their enthusiasm, their energy, their eagerness and their burning passion for life. 

It’s true that generations come and go and each one is unique – each reacting and changing what previous generations have done over time.   

And now it is time again. Baby Boomers are slowly making way for the next generation to assume leadership of the industry. Not that this is a one–day event, but rather a decade of transition. One that we are already part of. 

It is important to note that the impact of both Gen X and Gen Y outside real estate is already very significant – just think of MySpace, Dell Computers, eBay, Yahoo, Google, You Tube and Facebook – all legacy of that generations’ alumni. 

NO HOUSE LEFT BEHIND ought to become the mantra of every real estate agent.   As we deal with the consequences of a sluggish market, it becomes essential that a certain degree of renovation should take place prior to the listing of every home.  That is if you’re hoping to attract the selective buyers who have an over abundance of choices.

There are two key words that lead to success in life.  These words control the successful outcome of your business, marriage, and many other areas of life.  Although you may have incredible talent and skill in life, you will fail if you do not master these two words – and vice versa.  Even if you have only limited talent and skill, you will win if you live by them.  These two words determine your future.  They are attitude and expectation.             

On Friday, Real Estate Radio USA talked to Stefan Swanepoel about the changes shaping the real estate industry. Billed as probably the most informative interview they have done to date the 45 minute interview is a lively, fast-flowing exchange of ideas and commentary about the state of the market, agents in general, knowledge and recommendations for productivity, real estate trends and the future. You can listen to an archived version of the talk here.

There has been much negative news about the real estate industry from media, politicians and even our own industry leaders.  It is rare to find positive press.  Frankly, I am excited about this market.  This is the opportunity of a lifetime!!

Notice the title says “Correcting Market” not bad, scary, challenging, or stressful market?   People who have been in the business for 20+ years understand that a correcting market is one of the biggest opportunities you will ever have in your business and career.   Yes, it can be painful when we are in it but try to keep you eyes on the big picture.

New real estate wiki for real estate industry is launched. 

History of wikis in real estate
BiggerPockets (launched in 2006) claims to be the first real estate wiki but it unfortunately closed down in May 2007 due to lack of sufficient content.  Introduced shortly therafter, and still going strong, is InmanWiki (part of InmanNews, InmanTV and InmanBlog).