Technology is changing real estate and information sharing. Well-paid realtors can’t just sit back and wait for buyers and sellers to show up. How do they remain relevant and fundamental in transactions? Today, Toby Mathis of Anderson Business Advisors talks to Justin Stoddart of Think Bigger Real Estate. Justin focuses on business development by serving as a business consultant to help real estate agents better serve their clients.
- What’s the difference between an expert vs. technology/low-cost worker? Save money, but deal with significant net difference; someone knowing what they’re doing is true value by being net positive and putting more money in your pocket
- Why are people enamored with technology in real estate space? People think they can do it themselves; who needs an expert when they can do it themselves and save money
- Do Zillow, Redfin, and other online sites buy properties? Yes, they buy at wholesale and sell at resale; they don’t buy and hold properties to make profits
- Why do people choose not to hire real estate experts when buying or selling a property? Matter of convenience, not transaction costs
- What got Justin into real estate? Family business, studied construction management, left to start his own home building company
- Is Justin’s passion building homes? No, he’s passionate about building people, growing people, and growing business
- Does Justin plan to expand Think Bigger Real Estate? Yes, plans to go nationwide
- How do real estate agents remain well paid and not be replaced by technology/low-cost workers? Innovate at pace equivalent to technology; be less salesy, more customer service oriented
- Why select full-service real estate? Higher degree of service/quality, and pay for it
- Why select Software as a Service (SaaS)? Lower degree of service/quality, and pay for it without advisors/experts
- What drives Justin’s focus on real estate? Family life is where it’s at; great way to live
- What helps make real estate agents successful?
- Develop more business than you think you need; fire customers bad for your business, mindset, and quality of life
- Differentiate yourself by having a voice; think bigger, educate others, and step into expert role