I was recently perusing some headlines of a previous edition of Real Estate magazine and was impressed (as I always am) with the coverage of technology in our industry. In that issue’s Publisher’s Letter, John Featherston wrote about “the next frontier” in technology, and how our cover client was using a unique software program to help brokers and agents create customers for life.
John was also spotlighting experts who wrote about the importance of staying on top of technology but not weighing yourself down with every shiny new gizmo and gadget. That real estate, while advancing at cyber speed in which brokers need to “keep pace or perish,” is still a people business in which clients will almost always rely on the experience and wisdom of a trusted industry professional.
Here are some headlines from that issue:
- “Technology With a Human Touch”
- “Creating Partnerships With Technology”
- “Internet Marketing 101”
- “The Battle for Eyeballs on the ’Net”
- “The Internet Virtual Tour Guide”
- “Techie Evolution: From Faxes to Software”
You see where this is going, right? From faxes to software? And who says internet marketing nowadays? Oh, and also in that issue, there was this ominous-sounding report: “Real Estate Confronts Technology.”
If your Spidey senses told you it wasn’t a recent issue, you’re right. It was Volume 16, Issue No. 2, “The Special Technology Issue” of National Relocation & Real Estate magazine, (the original name of our print mag), published in April 2000.
The first story I wrote for RISMedia was published in that issue. It was a feature on Chicago’s historic Baird & Warner Real Estate, titled, “All in the Family,” and I wrote about the generations of family members going back to 1855 who have led one of the oldest real estate firms in the U.S. and what they were doing to adapt in the “new internet age.”
“The success of our company has been its ability to change at the right pace,” said Stephen Baird (who was then and still is president and CEO), in that article. “If you change too slowly, the world passes you by. If you change too quickly, you can change yourself right out of business. Achieving that balance is what has gotten us where we are today.”
Since that real estate newbie wrote the article, we’ve been through a lot together, right? We’ve experienced countless market cycles, incredible world events, stock-market highs, the 2008 real estate crash, market booms and busts, a global pandemic and so much more. And here we are, on the precipice of a new year with pundits warning of more rate hikes, higher inflation, even-higher home prices, low inventory and some out there even warning of, dare I say the R word, RECESSION.
Of course, our finances are no joke, and in this kind of a market, there are real consequences to bottom lines when few people are putting homes on the market, and those who do aren’t getting the buyers because prices and rates are too high.
But over the last 23 years, in talking to so many of you and listening to industry leaders at events like our annual CEO & Leadership Exchange, it never ceases to amaze me the entrepreneurial spirit you possess, your willingness to share information and your ability to adapt, change and put into action whatever is needed to rise to the challenge at hand.
That’s why I titled this column, “Bring It On,” because I know as we head into 2024 we’re going to continue doing what we’ve always done. We’re going to continue covering the most important issues to help you succeed. You’re going to adapt and continue helping buyers and sellers, whether it’s in challenging times like now, a hey-day or a bust, because your clients will continue to need your help through the most important transaction of their lives.
We can take comfort in the fact that Stephen Baird’s quote from 23 years ago still rings just as true today: “The success of our company has been its ability to change at the right pace.” That’s been what’s driven successful companies like Baird’s in the past, what drives us now and what will always be needed in the future. Will some of today’s tech-themed headlines about how to keep the “human touch” in real estate amid…AI, ChatGPT, TikTok, reels, proptech, hacks, deep-fakes, simulations, and VR (to name a few), be dead giveaways of today’s times when we look back in another 20 years? My guess is yes, these will be the real estate buzzwords of the 2020s like “From Faxes to Software” and “Internet Marketing” were back in 2000.
Tech in real estate will always be advancing and we will always be adapting, but the real estate transaction will always require the insight and expertise of a real person who helps guide their clients through the process. But maybe we could get some robots to handle open houses for us in the future, amiright? Wishing you all the best in 2024.
