YOUR FIRST MILLION DOLLARS
How To Survive And Thrive In The Digital Real Estate Shift The most successful approach in the digital age is being more human BY GEOFF ZIMPFER, SPECIAL TO NATIONAL MORTGAGE PROFESSIONAL
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he advent of technology has called into question the future role of real estate agents and mortgage loan originators. Well-funded tech firms are attempting to disrupt and relegate the role of agent and lender in a fashion similar to the once prominent travel agent. The future isn’t “approaching.” The future is here! How can you pivot and profit vs. be disrupted and displaced? If you’re going to survive the digital shift, you have to start with understanding the impact of the digital culture on consumer behavior and expectations. The following are excerpts from my recent book “Disrupt or Die.”
THE RISE OF THE DIGITAL CULTURE Remember “going to the bank?” When Amazon sold only books? In 1997, we were warned not to talk to strangers on the Internet, much less get into cars with them at night. In 2020, we use the Internet to bring strangers to
our homes and get in their cars. People are more comfortable than ever integrating technology into all aspects of their lives and demand efficiency, speed and personalization. COVID-19 has accelerated the pace of change in real estate. Agents and lenders are forced to rethink almost every aspect of their business — closing deals remotely, integrating technology, virtual selling and prioritizing service over sales.
THE RISE OF SOCIAL MEDIA The average homebuyer spends nearly 14 hours a week on social, and 65% say they are influenced by online friends’ home-buying posts. After seeing that their online friends bought a home, about 33% of millennial firsttime homebuyers say they reflect on their ability to do the same, according to USA Today. That means that it’s important for you to cultivate a strong social media presence to remain relevant to bring in new referrals and leads. Do you have a robust presence on social media? About 93% of consumers expect you to have
a social media presence, reports Cone, Inc. If not, you are fading away from consumer attention.
BECOMING KNOWN According to Fannie Mae’s 2019 National Housing Survey, fewer people are using their lender as a primary source for information. Just 47% now compared with 58% in 2015. People are using portals and websites instead to self-educate. Consumers are seeking information. If they don’t get it from lenders, they’ll get it from another source. You and I both know the information consumers get online is not always accurate or relevant. Is your website or social media presence a source of education for prospects? Do you publish content, videos, articles or podcasts to help guide people in making an informed decision? You are being evaluated by your online presence. If you’re not producing content, you basically don’t exist. To be relevant today and get chosen, we must first become known and win the customer early. Here is a business truth: People buy
PEOPLE ON THE MOVE //
> Ncontracts
marketing.
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announced that Guy Weismantel joined the company as executive vice president of
> Planet Home
Lending, a national lender and servicer, promoted Michaelene Whyte from processing manager of the East to vice president, national fulfillment, distributed retail.
| NATIONAL MORTGAGE PROFESSIONAL MAGAZINE
> Waterstone
Mortgage Corporation promoted Rich Tucker to chief operating officer at the Pewaukeebased corporate office in Wisconsin.
> SRE Mortgage
Alliance promoted John G. Stevens to chief revenue officer. He assumes that role in addition to continuing as chief marketing officer.
