The future real estate broker and the future real estate agent have already arrived, and they look a lot different than the broker or agent of the past 30 years.  It is absolutely amazing how rapid changes have hit the real estate business, but it’s not just because of the real estate recession and the economic recession.  The dramatic changes to the real estate business, which have huge implications for buyers and sellers, are really the result of a convergence of a number of major factors.

Buyers are no longer using newspaper classifieds to search for their next home.  The National Association of Realtors conducted a study which revealed that 85% of all buyers start their search for their next home on the Internet.  And guess what they are doing?  They are using Google to search for their next home, as well as free online MLS search sites.  This means that buyers are searching for their next home and filtering their list down to a practical number of homes, which they schedule to see with their Realtor long before they even arrive in town.  These buyers are not subscribing to the local newspapers, and they are not in an area where local home magazines are on the news stands.  Real estate brokers and agents know that their newspaper ads are not working, because they are not getting calls and selling those listings.  It’s not like it was years ago when the newspapers were the only way to advertise homes.

Because technology and the Internet have given buyers so much freedom and so much control over how and when they search for their next home, traditional advertising is no longer nearly as effective as it was.  This is one of the major reasons newspapers are going out of business all over the country.  Classifieds are no longer effective.  Craigslist has put a major dent in newspaper revenue, and that’s just the tip of the iceberg.  With the growth of the Internet and free consumer resources on the Internet, buyers are loving the privacy and freedom they now have to shop for their next home.  The convergence of the death of traditional media and the growth of the Internet have created a perfect storm in which traditional brokers and agents are sinking and consumers, especially buyers, are finding new freedom and power.

The brick-and-mortar real estate office can no longer put agents in cubicles and have them wait for the phone to ring or for walk-ins.  The phone no longer rings like it once did, and walk-ins are very rare.  Agents of traditional offices are leaving the business in droves.  I’ve been buying their lockboxes for half price.  That business model is not the future of real estate.

Buyers know this.  They have for a while.  Sellers have been a little slow to pick up on these dramatic changes, and traditional agents are not doing a great job educating their clients.  The way a home is advertised and promoted today to reach qualified buyers is so different than yesterday.  Granted, we will have the traditional office around for a while, and agents will continue to advertise in newspapers and magazines, but not because it sells homes like it once did.  Agents all over the county and the country tell me the only reason they put their listings in the Sunday newspapers is because their clients expect them to.  That’s just plain dumb.  Why not educate clients and stop wasting money and time on advertising that is not effective?

The real estate broker of the future and the agent of the future is going to be so different.  They will use the Internet and the most powerful technologies to reach buyers and sell homes.  The future agent will be engulfed in cloud computing and digital document management in a paperless office.  He will use the best ways to connect sellers with buyers, and the best CRM (customer relationship management).  This future will also network some of the best real estate agents around the country in entirely new ways to create a brain trust and training and mentoring that brick-and-mortars only wish they could have.  The old ways are fading rapidly, and the real estate business of the future is here.  I’m loving it, and I’m thoroughly enjoying connecting with buyers from all over the country using these technologies.

Are you taking advantage of these technologies to market your home?  Is your agent connected with the most powerful Internet technologies and business model today?  Ask me about what I do and how I do it?  You might be surprised.  You can start by digging around on this blog.  You’ll fund almost 700 articles written by me about Sequim and Port Angeles real estate issues–almost any real estate issue you can think of is here.  You’ll find the most powerful and easy-to-navigate MLS search tools here.  All these tools are free and require no registration.  You’ll find educational videos produced by a 20-year real estate attorney and broker.  You’ll find audio recordings on a variety of real estate issues I call Traps for the Unwary.  You’ll find a free FSBO eBook download, and you can download the Introduction to my upcoming book, Buying and Selling Real Estate in the Rain Shadow.  In other words, you will find this is a content-rich site, but this is just the tip of the iceberg.  There is much more behind the scenes to serve my clients in new and powerful ways.  You might guess that my real estate office is a virtual office–the real estate brokerage of the future.  Only this office is here today!

Possibly Related Posts:

• Real Estate Brokerage is Changing Rapidly
• Sequim Free Real Estate Data x 18
• Real Estate Agents – Jobs and Recruiting
• Realtors are Bombarded with Internet Promotions
• Traditional Brokerage in Trouble

Real Estate News Bulletin for Sequim buyers and sellers – FREE.   Let’s get to the point.   Exactly what is free?   All 18 of the following incredible resources are absolutely free with no obligation and no required registration on your part, courtesy of retired real estate attorney and now real estate broker and Realtor Chuck Marunde, who has been giving away free help on the Internet in Sequim and Port Angeles since 1995.

1.   FREE – Search the entire Sequim MLS and the entire Port Angeles MLS with a unique map feature and beautiful graphics and easy navigation (perhaps the best MLS site in all of Clallam County).

2.   FREE – Hundreds of articles on Sequim and Port Angeles real estate, buying and selling, negotiation secrets of an experienced negotiator, legal issues to avoid by an experienced attorney, how the real estate brokerage business really works behind the scenes by an experienced Broker, online marketing tips for selling real estate by an expert Internet marketing Realtor, no holds barred tips for buying real estate for the best possible price and the best terms, and much more.

3.   FREE – The most powerful and easy to use mortgage calculators online, figure out how much you qualify for, find out what your monthly payment would be, discover what additional payments will do.

4.   FREE – Your own weekly email newsletter specializing on Sequim and Port Angeles real estate issues, prices, market timing, charts and graphs on what is selling, and so on.   Subscription is FREE and anonymous (only your email is needed, and you can unsubscribe anytime).

5.   FREE – Sequim and Port Angeles Real Estate Videos to help buyers and sellers.

6.   FREE – Sequim and Port Angeles Real Estate Law Online covering almost every real estate legal issue that comes up here.

7.   FREE – A “content-rich” real estate broker website for Sequim and Port Angeles Real Estate.

8.   FREE – The Number 1 Sequim and Port Angeles Custom Home Builder (over 400 homes since 1981) with floor plans, photos, specifications, and much more.

9.   FREE – A Home Builder’s Blog for Sequim and Port Angeles with the truth about building and price per square foot and much more.

10.   FREE – Local Sequim and Port Angeles interest articles and photos!

11.   FREE – A Sequim and Port Angeles real estate blog with a national network.

12.   FREE – Ezine expert author Chuck Marunde on Real Estate.

13.   FREE – Port Angeles Vision, a blog about Port Angeles downtown development and businesses.

14.   FREE – Sequim and Port Angeles Classified Ads online.

15.   FREE – Podcasts on Sequim and Port Angeles real estate issues of Traps for the Unwary.

16.   FREE – Search Sequim and Port Angeles Foreclosures and nationwide.

17.   FREE – Referral Fee Sign-up and automatic tracking.

18.   FREE – Vacation Accommodations for Buyer Clients (over 100 vacations offered).  This service has been discontinued.

Why are all these valuable and content-rich resources offered absolutely FREE?   Chuck has always been generous in giving away knowledge and experience as he has been doing since 1995.   With the real estate market in such a slump, Chuck is working very hard to give clients real value, and to do what he has practiced his whole life:   give and give and give, and eventually it comes back.   Chuck is hoping that clients and prospective clients will see that he is giving them something of value and asking for NOTHING in return, and that he is credible, whether they are buying or selling in this market.   “Honestly, tell me one other real estate broker or agent in the area who gives clients as much as I do, all free.   I hope readers will feel that I am working hard to earn their business and that I am trustworthy.   Of course, they can always email me and ask questions and find out if I am credible and whether they think I can help them.   I do love helping people, so I think that makes a difference, and I think people can sense that.”

Possibly Related Posts:

• The Future Real Estate Broker
• Real Estate Agents – Jobs and Recruiting
• Realtors are Bombarded with Internet Promotions
• Search the MLS – Not All Brokers Are Members of the MLS
• Recruiting Real Estate Agents in Sequim and Port Angeles

I recently saw a recruiting ad for new agents published by a large franchise in another county. It almost sounded impressive, but after pausing for a few seconds on what they were really offering, I broke out laughing. I will shout from the mountain tops, “Brokers don’t get it!”   If only these recruiters could see their true reflection in the pond.

Here is the list of HUGE bonuses for agents who join this brokerage, besides getting to pay almost $300 per month (but you get to keep 100% of your own commissions, like the ones you’re not earning in this market).   Oh, the $300 per month does not cover all your licensing, education, and subscription fees, which is about another $300 per month.

1. Web based Document Storage System
2. Lead Router (sends email leads to your cell phone instantaneously)
3. [Large Brokerage Name] Works (Intranet Site)
4. [Large Brokerage Name] University
5. [Large Brokerage Name] Email
6. [Large Brokerage Name] Referral Network (x,xxx U.S. offices)
7. [Large Brokerage Name] Websites
8. Television Advertising Option
9. 7 Day a Week Broker Support

Why is this list so lame?   Here is the brief answer.

(more…)

Possibly Related Posts:

• The Future Real Estate Broker
• Sequim Free Real Estate Data x 18
• Realtors are Bombarded with Internet Promotions
• Search the MLS – Not All Brokers Are Members of the MLS
• Recruiting Real Estate Agents in Sequim and Port Angeles

Realtors are bombarded daily with Internet proposals from the thousands of would-be Internet millionaires who are trying to suck unwary Realtors into their services.   A search of the Internet in Google for the phrase “real estate agent websites” gives you . . . 55 million results. For the phrase “real estate agent blogs” you get almost 26 million results.   Wow!   The claims are nothing short of extraordinary.

We Put You On the Top of the Search Engines!
Impress Your Clients!   Get Top Google Search Rankings!
Your Listings On The First Page of a Google Search!
Be Top Dog!   You Website Will Get Leads Galore–Guaranteed!
We Gurantee Leads for You!
Capture More Clients Than You Can Handle on the Internet
We Guarantee Top Search Engine Rankings!
Buy Your Zip Code and Be The Exclusive Agent in Your Area

So, here’s a thought.   Since these are experts on the Internet and search engine optimization, you would expect that they would be on the first page of a Google search themselves.   But only 10 of them can show up on the first page of a Google search, right?   Of course, that’s impossible, since there are thousands of them.   Some of them are paying to show up in the right hand column.   So much for organic and guaranteed first page presence.   It would seem they are guaranteeing Realtors something they cannot do for themselves, at least the vast majority of them.

Then there are the annoying websites that consumers hate.   I’m talking about the real estate websites and portals that make you register before you can find out more about the property.   ANNOYING!   Just leave those websites, because there are good Realtors who offer you free search options without demanding your social security number and underwear size.

And there are still more real estate portals that offer you some scanty information, but not the listing agent’s identification or contact information.   On those sites to get more information, you are forced to register so an agent can contact you, or you are forced to contact some agent who pays to be the exclusive agent on that page.   These sites do generate some business for Realtors, but the Internet is evolving to give us more freedom and more options.

Okay, there’s nothing illegal or unethical about any of this.   This is America the Great, free enterprise and all that.   Just understand that the primary goal of the vast majority of all of these sites is not to help you buy or sell real estate, but to make money by selling services to real estate agents.

Did you notice this blog is absolutely free, and does not require you to register or identify yourself?   I hope you enjoy this site, and I hope you get real value out of all that you can do through this blog.   And watch this, if you are benefiting, it is still all free.     And I let you be anonymous, if you want to be.   I know, I’m a nice guy.   (Humor intended.   I’m really quite a boring guy.   I think.   Maybe.)

Conclusion.   When you do your due diligence to find a Realtor who is competent and trustworthy, may I suggest you be certain he or she is also an Internet marketing expert?   That’s critical in this day and age.   Hint:   Very few are.

Possibly Related Posts:

• The Future Real Estate Broker
• Sequim Free Real Estate Data x 18
• Real Estate Agents – Jobs and Recruiting
• Search the MLS – Not All Brokers Are Members of the MLS
• Recruiting Real Estate Agents in Sequim and Port Angeles

A majority of buyers now start their home search with an Internet MLS search for Sequim and Port Angeles properties. This is true all over the United States.

Did you know that not all real estate brokers and not all agents are necessarily members of your local MLS (multiple listing service), wherever you may live in the U.S.? What does it mean if a broker is not? Let’s consider the implications.

Most people know that the MLS is where real estate agents post their listings. This is the first step in marketing a property. Putting the listing in the MLS gives other agents who are members of the MLS the ability to view the details of that listing and share the listing with their potential buyer clients. All of this exposes the listed property to more potential buyers.

So why wouldn’t a broker be a member of a local MLS? There are three logical reasons. First, it is too expensive. That is not likely, since it is not an expensive service. In fact, it is the least expensive marketing an agent will ever do. The second possible reason is that the broker has a better marketing plan. That could be, but this also not likely, since the best marketing plan would include first listing it in the local MLS. The third possible reason would be that the broker’s membership was suspended or revoked by the local MLS board. If that is what happened, we don’t even want to discuss going further with that broker. Anyone who list with such a broker either does not know about the suspension or revocation or they are on Ritalin.

For the consumer, there are several more important considerations in deciding to list with a non-MLS participating broker.

1. What is the broker’s plan to market your property? Does he or she even have a plan?
2. How are the listings exposed to the rest of the world, or are they at all?
3. Does the broker depend almost entirely on just hanging poor photos of your listing in the window at his or her office? How many buyers will that expose your property to?
4. Is the broker’s effort at marketing focused only on local buyers in a limited marketing effort, or is there any national exposure to the many out-of-state buyers?
5. With no exposure to all the other local brokers and agents, how does the broker intend to expose your listing to all potential buyers, or even many of them? Most buyers will be working through other agents, right?
6. What is the broker’s relationship with other local agents? Good? Bad? Non-existent?
7. If the broker is not part of the local broker network, understand that it is highly unlikely that other local agents will ever tell their clients about the broker’s listings. Why should they, they don’t get paid.
8. A non-MLS broker will not have an IDX (public) search capacity from their website and your listing won’t show up in other agents’ websites through their IDX public property search tool.
9. Does the broker have many other agents who will help market your property, or is the broker a loner?
10. A non-MLS broker may try to entice customers with discounted commission rates. One question here. Would you pay a discounted price for a burnt steak, a rotten potato, and freezer burnt vegetables? What’s a discount if you don’t get the service, can’t sell your home, or don’t get the best price?
11. Last question. What is the broker’s relationship with past clients? I don’t mean just 2 or 3, I mean many of them. Anyone can end up with a few happy clients, but what about dozens or 100’s of clients? Are there a lot of burned bridges? Don’t you want to know?

Possibly Related Posts:

• The Future Real Estate Broker
• Finding an Agent: Real Estate Agent Personalities
• Sequim Real Estate Search Engine
• Sequim Real Estate Broker Creates Massive Internet Brokerage
• The Same Mistake Again and Again: They Don’t Know

Chuck: Absolutely. I offer an incredible amount of information absolutely free. People might be surprised. They can start with
Agent Opportunity with eXp Realty
SequimPortAngeles.com, and they can go to
SequimRealEstateBlog.com or
PortAngelesRealEstateBlog.com, and they can also find real estate law help at FreeRealEstateLaw.com, and there are more resources, but that’s enough for now.

Possibly Related Posts:

• The Future Real Estate Broker
• Sequim Free Real Estate Data x 18
• Real Estate Agents – Jobs and Recruiting
• Realtors are Bombarded with Internet Promotions
• Search the MLS – Not All Brokers Are Members of the MLS

Traditional real estate brokerage is history, just like the Model T is history. Consumers know this. Home owners and buyers have known this for several years. What is interesting is that so many real estate brokers don’t know this.

Real estate brokers who operate under the traditional model are still using a 20 year old business model, but the business world, and in particular, the real estate world, has dramatically evolved in the past two decades.

How does the traditional model market listed properties? This old worn out approach markets property by:

1. Entering it in the local MLS;
2. Advertising it once every 6 weeks in a little newspaper ad.

That’s it! Let’s pause here to answer the objection a traditional broker would immediately have at this point. He/she would say, “Oh, no. We do much more than that. We send out “Just Listed” post cards to neighbors, we send out price changes to other agents through our email system, we put the house on the broker tour, we hold an open house, we run ads in the newspaper, . . . we have it on our website, oh yes, we do so much more.” They would also talk for several minutes in a fast and nervous voice, but when they finished, you would not be able to repeat what they said, because it didn’t really seem to make sense.

Yadda, yadda, yadda. All of these things are just more of the same, and all of this is part of the 20 year old business model.

There’s nothing wrong with such tactics, but the world has changed in the last two decades, and buyers and sellers have become very savvy. Buyers and sellers do not necessarily understand how the world has changed in real estate sales, or what marketing tactics work or don’t work, but nearly everyone is aware that the traditional approach is no longer effectively connecting with buyers.

It’s much more than just ineffective marketing that is at issue. A simple concept called CRM, or customer relationship management, became a popular subject about 15 years ago. The dialogue focused on meeting the client’s needs and communicating regularly with the client during the relationship, keeping the client informed, building a positive relationship, and doing such a great job that the client would eagerly send referrals. Today, 15 years later, the vast majority of real estate brokers have NO customer relationship management system in place.

Again, consumers don’t necessarily understand how it should be, but their gut feeling is that something is wrong, and they are not being treated the way they should be. Clients do not like being ignored for months at a time.

The 20 year old model focuses on the real estate agent, rather than on the client. For example, the old model suggests an agent promote himself or herself, brag about his sales record, or boast in other self-centered ways. But consumers have one question, “How are you going to help me sell my home?” Traditional real estate brokerage doesn’t understand that it’s not about me, the agent, but it is ALL about the client. The client is and should be the center of mass for all decisions made. It is the client’s best interest that should be the focus.

Consumers sense this, and they don’t like it.

The world has dramatically changed in the past two decades. Clients expect more. They expect brokers to sell their homes using cutting edge technologies and in such ways that strong and positive relationships are built during the process. Technology and the Internet have dramatically changed the way the real estate business is done. Most brokers are only slightly aware of the significance of this. In a feeble effort to demonstrate they are using the Internet, they have techies build a website that is no more than a static brochure on the Internet.

Consumers will not be fooled by counterfeits. Consumers are demanding more. How real estate is bought and sold is dramatically changing, and consumers know it. Unfortunately, most brokers and agents do not.

Possibly Related Posts:

• The Future Real Estate Broker
• Real Estate Brokerage is Changing Rapidly
• Sequim Free Real Estate Data x 18
• Real Estate Agents – Jobs and Recruiting
• Realtors are Bombarded with Internet Promotions

Port Angeles homeowners and Sequim homeowners who want to sell their homes, and buyers from California, Texas, Arizona, and on the Seattle side of the pond, are looking for leadership from real estate brokers in Port Angeles and Sequim.

When the real estate market goes through a phase of uncertainty, as we are now, and especially in the slowest time of the year, clients are asking important questions like:

Should I put my house on the market now?
What is a fair listing price on my house?
How long would my house be on the market before it sells?
Is this a good time to buy a house?
Should I buy a home in Sequim or in Port Angeles?
Should I buy an existing house or have one built?

Clients do not want to look into a crystal ball. They want professional guidance that comes from experience and integrity. If you are buying or selling, this is a time for strong leadership from your real estate broker and agent. Do the due diligence to find an agent you can trust and who can do an outstanding job for you. Knowledge, experience, and trustworthiness are all important. Don’t buy or sell your home without them.

Possibly Related Posts:

• The Future Real Estate Broker
• Sequim Free Real Estate Data x 18
• Real Estate Agents – Jobs and Recruiting
• Realtors are Bombarded with Internet Promotions
• Search the MLS – Not All Brokers Are Members of the MLS

What’s behind the mask? If you’re buying real estate, is your real estate agent representing the seller, too, and acting in the capacity of a dual agent?

Dual agency is legal in every state, provided there is full disclosure to both parties, and provided the dual agent does not compromise the special duties he or she owes exclusively to the seller and to the buyer.

Here’s the challenge. A dual agent owes his client a duty of loyalty, obedience, disclosure, confidentiality, financial responsibility, and reasonable care and diligence. It’s easy to understand how all these duties would apply to an agent’s seller, or to an agent’s buyer, but to both at the same time?

Imagine you are a buyer, and your agent is a dual agent, meaning he or she is also the listing agent for the seller who owns the home you want to buy. Because the agent owes special duties to the seller, there are things your agent cannot share with you. In order for your agent to work in your financial best interest and beat up the seller on either price or terms, your agent would have to work against the seller’s interest. That would violate the law of dual agency, and subject the agent to legal liabilities.

In one case, the buyer closed on a unit in a co-op only to find out later that he could have purchased a unit in the same complex for 40% less, but his agent also represented the seller. Was the buyer upset? You bet, but it was too late, since he had already closed on the transaction. There are many other issues besides price that could be negotiated in favor of the seller to the detriment of the buyer if your agent is a dual agent.

This is why a buyer’s interest are clearly best promoted when a buyer retains a real estate agent to act as their exclusive buyer’s agent. In this case, there are no divided loyalties, and you have an agent who has one client, you. You can be confident your agent is promoting your interests, and your interests only. This gives your agent freedom to withhold nothing from you, to help you negotiate the best price and the best terms, so you come out the winner.

You wouldn’t go watch an NBA game if there was one coach for both teams? Can you imagine the coach running back and forth to coach the players on each team during time outs? What would he tell the players? How would he promote their best interests? Likewise, why would you hire an agent who represents the seller when you want to buy?

Possibly Related Posts:

• The Future Real Estate Broker
• Sequim Free Real Estate Data x 18
• Real Estate Agents – Jobs and Recruiting
• Realtors are Bombarded with Internet Promotions
• Search the MLS – Not All Brokers Are Members of the MLS