Disrupters – A Real Estate Reality

01 Apr 2019| Posted by: Geoff Baldwin

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So many agents are either writing off or ignoring the proliferation of disruptors entering the real estate space over the past couple of years however conventional agents really do need to take notice and adjust the modus operandi or pay the price according to RE/MAX WA MD, Geoff Baldwin.

Obviously Purple Bricks is a major contender and it is interesting that they have recently been accepted into the Real Estate Institute of WA. As they are registered real estate agents it’s my guess that REIWA could not refuse them membership however one gets the feeling that it’s also a bit of “Keep your friends close and your enemies closer.”

It is an interesting fact that while Purple Bricks talk about 90% of people who “sell” through them would do so again what they don’t provide is the percentage of people who list with them and don’t sell which is embarrassingly low and reflects their focus on listing rather than achieving a sale for their clients.

Hopefully our Institute can do something about Purple Bricks dishonest, public denigration of conventional real estate agents in their massive TV marketing campaigns. Just as they cannot prosper in the medium to longer term by knocking their competitors, we too must refrain from knocking disruptors as they have as much right to be in business and to compete as any other business.

Disruptors aren’t going anywhere though and if anything this approach to our market will increase so conventional agents need to look at strategies to differentiate and never lose sight of what’s in the interests of their clients.

Right now there are around 40% less agents and salespeople in the market than compared to 5 years ago and it seems that those who have survived these tough years tend to be the cream of the crop. With this in mind the foundations are in place for us to grow and adapt to the changing environment and for individuals and businesses to prosper, Baldwin said.