Real Estate’s Paradigm Shift

The shifting New Hampshire Real Estate marketI’ve been thinking about this lately. When I entered the business in the mid eighties all the REALTORS knew each other and everyone worked hard to cooperate with each other. Then the market shifted, prices rose dramatically and everyone and their mother thought it would be cool to sell real estate. One day it all came to a screeching halt. The market changed and for those that were unaware, it felt like an over night change. Those that keenly watched the market knew what was happening and what was coming. It took awhile but the market eventually improved and the up cycle started all over again.

It was in 2005 when gas prices started to creep up to $3.00 a gallon and our buyers started to spend more time looking on the Internet for homes than they did driving around with ads in their hands that we knew another change was coming. The Internet had a big impact on our business, which is why in part we left the firm we had been with to go with a company we felt was much more technologically advanced. I believe that because Jay and I have been Internet junkies for so long, reading blogs and on-line news stories that we’ve been much more aware and willing to explore new avenues. I know that has made a big difference in our business and helped us see the Paradigm shift slowly occurring in real estate.

By mid 2006 when everyone else was starting to see that the market was changing and changing fast…Jay and I had plans in place. We had been aware of something called Web 2.0 and something else called a Consumer Centric real estate market. We saw the writing on the wall and took steps to make the changes necessary to be ahead of the curve. Along the way we encountered a lot of naysayers, people criticizing us for spending so much on the internet and for doing something stupid called blogging. We kept at it.

Then 2007 came and the real estate market just about came to a screeching halt again and we once again saw agents leave the business when suddenly it wasn’t so cool selling real estate anymore or maybe they realized that selling real estate was more than just putting a sign in the ground and a lock box on the door. Being a REALTOR has always been more than just simply opening the door. How do you put a price tag on experience…and I’m not talking in age? I know some very experienced agents who have been in the business forever who are totally clueless. They have all the right REALTOR designations (initials next to their name) but none of the right skills needed to survive this shift.

It must be hard being a seller or a buyer and having to try and figure out who to trust…who to believe. So many different reports out there…doom and gloom seems to be everywhere. In reality the market and agents are all going through changes… I think calling it a paradigm shift is right on. You need to be aware enough to recognize the changes happening and I mean not only when pricing homes but when trying to reach today’s consumers. You need to change along with them.

This shift is different than the last one without a doubt. Old ways of doing business no longer works. Does it matter how young or old an agent is…no I don’t believe it does. What really matters is how they approach the market, how open they are to new ideas, are they aware of the Real Estate Paradigm shift happening right now under their nose or are they totally clueless and just going about doing business the same old way… day in and day out expecting new results but getting none. It’s not going to happen!

If you’re trying to decide who to work with, who to trust, you need to look beyond the glitz and glitter and look at the whole package…and while you’re at it try Googling their name to see what, if anything comes up.

Real Estate is not something to gamble with…take some time and really think hard about who you want to work with.

NH Real Estate Professionals Jay and Monika McGillicuddy


Jay and Monika McGillicuddy, covering southern NH and the Seacoast area. If you’re thinking of selling or buying a southern NH or Seacoast area home give us a call…we’d love to help make your home ownership dreams come true.

Jay and Monika McGillicuddy, NH REALTORS

Berkshire Hathaway HomeServices Verani Realty

603-944-9172 direct

603-772-0600 office

E-mail Jay and Monika
About Monika McGillicuddy

I've been a NH REALTOR for many years and love what I do. I also teach other agents and offer consulting services, everything from real estate sales techniques to social media training. If you are looking for a REALTOR in Southern NH...look no further!
603-548-7728

Comments

  1. Hi Kathy,
    Yeah…Timeless is right on. I am so happy that Jay and I started down this path in 2006. It has made a difference for us.
    Thanks for stopping by.

  2. This is a timeless piece…..maybe the Market has started swinging back, but the difference of Agents using technology versus those that aren’t is the same. In retrospect looks like you and Jay made all the right choices.

  3. Thanks David.
    Being willing to adapt and explore new things really make a big difference.

  4. Monika,
    You are so correct. It doesn’t matter about age or how long you have been doing this. It matters that you are or aren’t willing to adapt and accept the changes that are happening. Good stuff!

  5. Sabine
    How true..so many simply don’t get it. Probably all the better for those of us that do.

    Carole,
    Basic- yes But so many can’t even get that basic step down! Pretty sad.

    Mariana
    Thanks. You are a classic example of a younger agent with far more experience than many who have been around a lot longer. I know you understand what I mean!

  6. Monika – This is a great post! I also agree that it matters more how young/old a marketing or service approach is vs. how young/old an agent is.

  7. For example, and this is so basic, how many homes did I look up today with no photos? And most were on market for over a month. That is not even the paradigm you are discussing but Im guessing if you can’t put photos up you are not web 2.0. I put four clients on drip email today and they all said if it’s a no photo listing don’t bother. I have a young agent in our office who feels personalization is best; she does phone calls but then gets frustrated when they email her back. She will get it, she’s bright, but you are so correct, not everyone is on board yet.

  8. Monika,

    You “hit the nail on the head” with this one.
    I think it’s amazing that despite the writing being on the wall, a ‘huge’ number of Agents refuses to see it.
    Guess – all the better for the agents who do (see it)!

    Sabine

  9. Ines…You are so Miamism… If they research your area they’ll surely find you and love you! I was just over visiting your site!

    Chris…Thanks for stopping by!

  10. You are spot on and give some great advice.

  11. Well, I can’t say I was selling real estate in the 80’s but I can agree with everything you have said. I’m always curious as to why people hire certain agents and the answer is usually the “glitz and glitter” you mention.

    I personally LOVE when the consumer really researches the area and the agents and becomes educated about who they are hiring – those end up being the best client relationships that last a life time.

Trackbacks

  1. […] take a look at Agent Genius (which I am one of the contributors).  A dear colleague of ours, Monika McGuillicuddy, who happens to be a pro with many years of experience also wrote her perspective of this change.  […]

  2. [...] I don’t care about someone being a Top Producer. I’d rather work with someone who makes me feel important to them. If they are too busy telling me about all the awards they’ve received and how many homes [...]

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