Today was the first day of the Inman Conference in NYC. Unfortunate that we had to leave home just as it was warming up to go back into a deep freeze! Actually it is not that bad, in the 30's. The keynote speaker explained that there is just so much content that it is impossible to assimilate it all and to try and pick just one or two things each day as a takeaway. Here is today's top takeaway for your CEO:
The biggest new trend to hit the market and the economy is the concept of "REAL TIME". This is more than just tweeting and facebook and refreshed listing data on the public sided MLS site but the "Constant stream of news through multiple devices in multiple locations and the continuous feedback loop". Brad Inman, founder of Inman News, states that the newest trend will be apps that will filter and organize all the data we are receiving daily BUT his key prediction is that the REAL TIME trend will rapidly accelerate this year and the following years to come.
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What this means to you the REALTOR is that those who adopt these new technologies and social media will have a significant advantage over others. That the next decade will see real estate success& profitability based on volume of transactions. These technologies will assist the REALTOR in getting deals done much more quickly and in attracting listings and buyers much more quickly.
Seller expectations will be much higher and there will be better market data and greater disclosure. He warns that disclosure not just in terms of the transaction but customer & client disclosure on you and your brokerage's performance. There will be REAL TIME viral reports ranking your effectiveness as a REALTOR.
He sees the biggest consequence of the REAL TIME trend is a new addiction; The Digital Addiction. He also warns to not lose sight that the addiction can cause us to disengage outside of the digital world. His number one piece of advice for success in 2010- GET ON BOARD with all the new technologies and be offering REAL TIME DATA to your clients and customers but also to remember that this business is about face to face real relationships.
His predictions made me so proud of the course the MLS leadership and OKCMAR have taken in its strategic planning since my tenure in 2007. MLSOK has brought REALTORS significant advantages in digital technologies and social media technologies. We are at the cutting edge nationally offering our members these services. But here is what makes MLSOK unique- these services are FREE to the subscribers, included in the "Suite of Services" envisioned by former MLS President, Mike Cassidy. These technologies that Inman News is recommending for success in 2010 forward have been in place at MLSOK/OKCMAR for almost two years and at no additional cost or add-on fees. What makes MLSOK and OKCMAR even more sensitive to the REALTORS needs? Not only are the services included in the basic MLS package but we have reduced MLS Fees TWICE in 2009- once through an automatic bundling discount and then again through our early pay discount program.
I think this is why the nation continues to wonder in its national media "Why is the Oklahoma City Housing Market So Strong?" I believe it is the vision of your MLS & OKCMAR leadership that has kept Oklahoma City in front of the market trends and demands
1 comment:
Dawn, the promise of real time has been with us along time, and the widespread use of Broadband internet connections has brought this to reality.
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