Today’s homebuyers invest a lot of their personal time searching for homes online but the Realtors realize most of the benefits from the buyers efforts… However We Are Doing Things Differently.
Background The amount of 0pen data available to the average consumer today was unfathomable just ten years ago and is increasing exponentially every year. This evolution has brought about countless changes and improvements to our daily lives. Many businesses on the other hand are experiencing challenges they could not have foreseen. The greater efficiencies in the market place are requiring innovation across a broad spectrum of business models leaving those which are unwilling or unable to evolve seeing diminishing returns on their “business as usual” response to this explosion of open data.
The Real Estate industry has not been immune. Property information that once could only be obtained by driving over to visit with a real estate broker is now available to anyone with an internet device. Property listings that used to take a week to ten days to be distributed out to the member brokers in any particular area now are now instantaneously distributed to hundreds if not thousands of brokers and buyers the very moment the listing agent presses the submit button on the listing input screen. Open data is bringing more concise information to buyers faster and more efficiently than most Realtors might prefer if they were able to turn back the clock. On the other hand innovative brokers that are willing to embrace this changing landscape are finding opportunity where none existed before as many are developing new value propositions that harmonize with the increasing capability of their prospective home buyers.
We Offer Our Commission Rebate Program in direct response to this explosion of open data. From getting dinner to getting married or from buying a cell phone to buying a house everyone is searching on a regular basis. It’s only natural for buyers and sellers to reach for their laptop or tablet when considering a sale or a purchase. Until just recently searching for properties has been a major component of all Realtor’s job description and one that has normally consumed large portions of their business week. Today when buyers use their own personal time to access property portals and to search for homes which interest them, they are saving us the time we used to spend doing it. Better yet they are improving the results by identifying homes that they personally like and want to go out and tour. Their effort is helping us all.
With our Commission Rebate program we are merely returning to our home buyers what we feel is the fair value of their efforts in the completed transaction. We all work together and we all benefit together.