I was going through some files today and found a piece of letterhead from a business my dad ran over 30 years ago and it really made me start thinking. My dad was a serial entrepreneur and ran a variety of businesses when he returned from the war. This included a book publishing and binding company as well as a travel agency. The travel agency became his pride and joy and he successfully sold it in the late 80's when he retired. However, I really started to think about what would have happened to the travel business had he not gotten out when he did. The Internet for the most part with Travelocity,Expedia, and various other sites has really decimated the Travel agency ranks. Technology is evolving in all businesses and is a double edged sword in many cases. Yes, it makes you more efficient in most cases but it can also make you obsolete. I remember watching an interview on CNBC years ago with the CEO of Kodak. The CEO was being interviewed and stated he had not seen an impact from digital photography and didn't expect to see one for many years to come. Having been an early adapter of digital photography for my appraisal business I was stunned by his comments. Well the rest as you know is history. I am not sure how much film Kodak is selling these days but I can tell you it a fraction of what they were selling and processing just a few years ago.
So it really got me thinking about real estate. Will the Internet make Realtors obsolete long term? I often hear Realtors talking with a ton of arrogance about what they do. You would think we are brain surgeons the way some agents talk. This attitude is destined to make many Realtors dinosaurs! Those of you that know me know I am insane and I mean absolutely insane about my business. I don't like to lose. I lay awake at night thinking of ways to add value to transactions for my clients and create a sustainable competitive advantage for my company. I think the short answer is that as long as Realtors continue to add value to a transaction there will be a need for them. Sure you can download contracts, get a value estimate, etc on line and try to sell your home yourself. However, on average For sale by owners still list with a Realtor in about 30 days. Right now there is still no replacement for experience. Real estate remains a complex business and after 17 years I still learn something new everyday! My past experience saves clients time and money everyday. So no I don't think I will be replaced by the Internet in the near future but I am looking over my shoulder!
If you have any questions please do not hesitate to contact me. Thank You!
Sincerely,
Kevin Clancy
518-861-7016
kevin@clancyrealestate.com
http://www.clancyrealestate.com
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