Real estate has long been a relationship based business – is that finally changing?

Is it enough for today’s consumer that ‘knowing’ you is their basis for hiring you to handle what for most will be the single most costly transaction they make?

I don’t think so. Unless you have been living in a cave the past few years, you can’t have missed the change in today’s consumer. And rightly, so.

So what does this knowledge based real estate professional do differently?

They have a thorough understanding of pricing using the absorption rate analysis – we have to be able to teach it and to use it and to explain it. Knowing and applying market statistics for our area and how they affect buying and selling. We have to understand the pitfalls that exist today – liquidity issues, home inspection issues, foreclosures and short sales, unemployment, under employment for our market areas. Our presentations for both seller and buyer are evolving around the consumer. Even the way we connect and follow-up is focused on giving value to them.

All of that and more and at the same time keeping our relationships current – because realtionships do matter. What you know and how you use it will dictate the results we get for the consumer and provide a stronger basis for sustaining those relationships.

So has the business of real estate moved to a knowledge based economy?