We have all had to pivot a ton the last few years due to COVID-19.
This is the first time in history that the NFL Superbowl will be televised at the same time as the Winter Olympics. We thought this was a pretty exciting fact because we haven’t ever seen this occur. The question is at play on whether the Olympics will have higher viewership than the Superbowl since one has a global reach compared to the NFL is more United States focused. Many statisticians are curious to see what will happen, and thus, we are too! In a way, this is a big disruptor for both entities.
Being in the real estate market, we are very familiar with disruptors. RE/MAX as a National Franchise was created as a disruptor because it was the first structure where agents all shared in the overhead costs for operation and were given their production commissions directly. Right now, other market disruptors are occurring that impact the marketplace that we are also keeping a good look on. One is how Zillow and Realtor.com have been purchasing properties directly as businesses. By doing this, they were tightening the market around specific listing prices, and they were often removing the role of a real estate professional in their transactions. While they were selling these homes, there was immense concern from buyers on whether these were real opportunities or not. Some buyers we have visited with related it to calling for support and getting a robot. We are focused on keeping our real estate transactions personable and centered around the human connection for that reason.
Another prominent disruptor has been the real estate digital platforms in general. Most buyers begin their shopping online and have access to the inventory information. In this quick market, however, most times they are already too late in buying the homes they want when relying solely on online information. Therefore, after unsuccessful attempts, buyers are leaning into realtors’ support to find them the right home. This is a fundamental shift in behavior because real estate professionals are getting engaged in the buying process later than in the past.
Overall, in real estate, you have to be prepared to change and be aware of these disruptors and how they may impact the market. It keeps our jobs exciting and helps us love what we are doing because we always have to think through how to do our job better and serve our clients to beat out the competition, even if it is a competitive disruptor.
Would you like to learn more about market trends and how disruptors can set the stage for further change? Give us a call or stop by our office! We’d love to talk.
4000 Central Ave, Suite #1
Cheyenne, WY 82001