Traditional brokerages are lagging behind when it comes to providing value and the support that agents really need right now. How has this made teams more relevant?
Why are so many companies hesitant to abandon the brick and mortar model, or even try a hybrid? How does the virtual model give us more opportunities to reach more people and scale?
On this episode, Darryl Baskin shares on the evolution of real estate business models and how we can leverage the shift.
"If we don’t adapt to the changes that are taking place in the real estate world right now with all the threats rocking the boat, we won’t survive." -Darryl Baskin
Takeaways + Tactics
- The brokers who don’t know how to train agents in this new world of real estate are causing people to leave the business. There has been a drop in the value brokerages offer, and teams have stepped into this gap.
- The use of virtual offices and availability of livestream options has eliminated the cap of who we can reach and bring value to.
- The consumer is demanding more efficiency and reduced cost. For us to survive, we have to specialize and offer more value.
At the start of the show Darryl shared on his team structure, why he didn’t have a team for some time and how he has built up a team intentionally. Next, we talked about the disconnect between older agents and younger agents who are new to the business. We discussed why this disconnect is causing so many people to get out of the business in less than two years.
We also talked about the multitude of live streaming options we have at our fingertips, from the super high-end to the more standard.
We also discussed
- How we should rethink leadership as business models evolve
- The ease of scaling content and a virtual team
- Why specialization is so necessary right now In order for us to survive the market forces threatening to make us less relevant, we have to rethink the business models and ideas our industry has leaned on for so long.
One of the greatest opportunities we have right now is in the adoption of virtual teams and virtual services. It gives us the chance to go beyond our own local market. We can very easily become national companies, and even international brands by livestreaming and sharing content. We can eliminate the cap of how many people can engage with us, and this gives us greater relevance to a larger market.
-Darryl Baskin is a 30 year veteran in Tulsa real estate and host of KRMG's Future of Real Estate advising Saturdays at 1pm. He is a Broker/Associate with eXp Realty. Go to darrylbaskin.com for more information or find Darryl on Facebook to get in touch.