Mar 30, 2021
How Can Independent Real Estate Agents Stay Competitive in a Rapidly Changing Field?
Being a local realtor isn't easy. With monumental online sites like Zillow and Offerpad saturating the market with cut rates, it can be difficult to stay competitive. According to the National Association of REALTORS®, the typical realtor is a 55-year-old woman. Many realtors in this legacy demographic who have seen the market rapidly change with technology may struggle to compete today. However, local realtors still have a number of advantages, and technology like REA Scoop can give them an additional edge.
Market Changes and Technological Transitions
Online competitors in the realty space made it easier for realtors to sell homes through the internet’s wide reach. Before this open-access technology, realtors were the exclusive gatekeepers to helping clients find a home. This was a blessing for some, but also came with the downsides of market domination over time and extreme competition among realtors. So how can a realtor leverage themselves despite the crowded online market? Understand their advantages over online competitors and get ahead with technology like REA Scoop.
Play to Your Strengths: A Local Realtor’s Advantages
Emphasize Local Know-How: Local realtors have a distinct knowledge of their area’s neighborhoods, culture, and amenities. They usually live near or within the area they serve or have sold homes there for many years, keeping them abreast on the community’s evolution.
Leverage Local Connections: They have a direct relationship with local builders, which offers their clients important negotiating leverage. This also makes them more likely to be aware of groundbreaking tools in their community like REA Scoop, which features local builders.
Know Your Target Market: It's important to appeal to the growing market of Millennial homebuyers. However, the average age of a homebuyer is 47, according to data compiled by Deutsche Bank. Furthermore, the biggest gains will always be had in luxury properties, not starter homes, a market composed primarily of older, more established individuals and couples. Despite technology’s advances in the market, this demographic still prefers buying a house with a realtor in person with whom they can form a relationship.
Use Relationships to Foster Emotional Decisions: While homebuying is a large financial decision, it is also an emotional one, since a home contributes to our sense of belonging in the world. This emotional connection is extended to local realtors, as they work to serve their clients’ best interests and needs. A good realtor's job is not just facilitating a purchase, but guiding a life choice and nurturing connections with people and places. Online algorithms will never match the human touch in this particular area.
Tout Your Clout: A local realtor with decades of experience in her local community who is invested in her own firm versus a junior realtor who is a footnote with a national online company has more leverage due to experience and trust. Local realtors have more financial and time resources to dedicate to getting their clients the best offer, who they serve exclusively, and don’t have their hands tied in managing other obligations.
Use the Right Tools: The REA Scoop Advantage
In addition to understanding the key advantages you have as a local, independent realtor, it's important to leverage tools that make your job easier. REA Scoop exclusively caters to local realtors in Arizona, as it covers all new home communities in Phoenix and it’s larger metropolitan areas as well as builders in Pinal and Yavapai Counties. Information from REA Scoop is updated every Thursday, so realtors can be ahead of the curve with reliable information. Their clients can even use it, as they can share communities and floor plans with them for free from the platform. With REA Scoop, realtors can increase their specialty and range, since the market is hot with interest in new home builders and spec homes. While national sites are all over the States and feature traditional home sales like resales and foreclosures, Scoop’s realtors have an advantage by having exclusivity in a hot market area with a new specialty.
REA Scoop provides the next advancement in the rapidly growing real estate market with a desktop and mobile app dedicated to new build and spec homes in Arizona. REA Scoop provides local realtors with opportunity for growth and a competitive edge. For more information, contact us today or download the app on Google Play or the App Store.