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Op/Ed

Everything the tech gurus are telling you is bullshit

Tech gurus have fun tools to sell you and tricks to teach you, but I can tell you first hand that it’s mostly bullshit.

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technology

I am known as a technologist. An avowed geek. An unapologetic adopter of shiny new objects. My passion is finding out how technology – specifically the internet, can make my job better, faster, and more profitable. It is also figuring out how the consumer intersects with the internet and how I can leverage this to create more business.

In years past, I bet heavily on internet lead generation, customer relationship management (CRM) systems, and video email marketing. I researched the best platforms and practices, sought the counsel of the foremost experts, and hired the best talent.

I had some great wins and surprising losses this year. I’ll get into that in a bit… but I realized that the real estate industry often markets tech on the internet as a replacement for human connection, as a convenience for the agent, and as a crutch for a basic lack of knowledge and expertise. In the real estate industry, technology is marketed as a shortcut to profits and that is complete bullshit.

Fair warning- this post is likely to get you riled up and deny that any of it applies to you. That’s cool. It probably doesn’t, so move along. I am not trying to derail your successful train. But this category of business tools creates stress for a lot of agents who feel left behind or “less than.”

About those gurus on stage at your favorite conferences

Listen to the gurus on stage and the vendors hawking their wares. According to them, the internet can provide a never ending source of people who want to buy and sell (leads). It can eliminate the need to chase signatures or show homes. It can sell homes without the need to open it to strangers or tell you a home’s value instantly and automatically.

Wow. Get clients without dealing with real time rejection. Show and sell homes with no physical effort. Find values with no expertise or local knowledge. Makes you wonder what human Realtors are going to do. Flip burgers, maybe?

Internet-based tools are an amazing enhancement to traditional skills and techniques, but it is often promoted as the miracle cure and wholesale replacement of skills and knowledge. I call this bullshit – but our industry is buying it.

The enticement of internet lead generation

Let’s start with internet lead generation. The surface promise is very enticing. Write a check and get a never ending stream of people interested in real estate who have given up their contact information. No physical effort. No skill required. No face to face rejection. Who wouldn’t sign up for that program?

But here is the problem. It takes a lot of money to do internet lead generation effectively. It takes a lot of resources to follow up and it generally takes time to create a sale. When you factor in all of these resources, internet lead generation is far sexier on paper than in practice.

Now, this does not mean lead generation isn’t a viable way to run a business. But it is best done in a team setting with proper resources to handle these leads effectively. In a team setting, internet lead generation is less likely to divert attention away from relationship building. And, for a single agent it is a very dangerous place to “bet the farm”.

So I can pay more but get the same results?

The number of portals and agents competing for attention increases every month, so the resources required to stay level will also increase. This means it continually takes more money to get the same result… and this is where I call bullshit. The average agent is only seeing the tiny fraction of people making a profit from internet lead generation and they have no clue how costly internet lead generation actually is.

And that is another problem. How many agents use internet lead generation as a replacement for the much less “sexier” work of face to face prospecting? My guess is quite a few. I’ll confess. I tried replacing my traditional prospecting with a lead generation site. It was bullshit.

Another bullshit problem: social media

Here’s another technology coming between the consumer and the agent. Facebook, Twitter, and email marketing- loosely categorized as social media. When used as an easy, thoughtless, broadcast machine (as most agents do) the agent is following the idea that being seen- frequently- is the way to make the phones ring.

Agents have been doing this sort of “look at me!” advertising with postcards and print advertising for years. However, print cost lots of money and most will give some thought and attention before doing each piece. Social media is essentially free and nearly effortless, allowing agents to completely alienate their audience with their avalanche of tone deaf posts and emails.

Now, at least this stuff is nearly free and the agent has resources left over for traditional relationship building. But, how much damage is done to potential real life relationships with poor and uninformed social media tactics? The bullshit part is that free and easy should not mean tacky, thoughtless and loud.

E-sigs aren’t the next coming of Christ

Here’s another thing. I thought electronic contracts and e-signatures were the best technology tool since sliced bread. And, used properly, it still is. Contracts can be signed at the consumer’s convenience and that can be a huge benefit for busy lives. All too often, though, e-signatures serve the agent or brokerage more than the client. There are situations where the client is best served with an in-depth explanation of the documents, but they are given an e-signature package instead.

This was one of my hardest realizations – I was completely guilty of choosing convenience over great representation. I told myself it was for the convenience of the client, but it really made my job a lot easier. This is not cool, it is bullshit.

I love technology, but…

Now, don’t get me wrong. I am still the technology fan girl you know and love. But with each passing day, I am convinced that a lasting and enduring business is made with an authentic connection to the people in my community. Technology simply gives me the opportunity to make more of those connections.

I meet and interact with hundreds of people on local Facebook groups and these interactions have led to wonderful real life meetings and lasting relationships. It is an amazing and efficient layer to my traditional community building and prospecting. But it is a layer. Nattering on Facebook all day long does NOT create enough engagement to create a business.

So, what were my wins?

I used technology to publish my internal checklists to my clients, bringing a new level of transparency and accountability to our transactions.

I went deep on an unreasonable number of CRM systems and I am getting close to having a system that enhances both the creation of business as well as the transaction.

I went even deeper into the concept of the paperless office. There are a lot of benefits to a paperless office, but for the consumer, it means anyone on my team can answer any question, anytime, anywhere.

And my losses?

What were my losses? The biggest loss was my investment in internet lead generation, and that was a real surprise. I invested heavily in the platform, in the tools and in the human resources necessary to make a profit.

I learned what it takes to make this business strategy work, but I also learned that I would rather use my resources to build a local community.

Another “loss” was the lesson learned on e-signatures. I have retooled my process to make sure that certain critical points in the process- the purchase contract, escrow instructions and going over disclosures, are no longer a simple e-signature packet.

Moving forward – join me?

As I enter the next year, I am focused on a few principles. Belly to belly rules. Technology done right is invisible. Build a community to build long term trust. Make a difference.

Wanna join me?

This story was originally published in January 2015.

Kendyl Young is Division Chief at DIGGS, and an industry veteran. She has been named to the Inman 100 Most Influential Real Estate Leaders, contributed to industry books and speaks about social media and technology. However, her purpose is to help people buy or sell their perfect home in Glendale, La Canada and La Crescenta, CA.

Op/Ed

Morning rituals of highly successful people – do you have one?

(EDITORIAL) From start to finish, the daily life of each successful person is very much dictated by their family and job. But there are definitely some patterns that we can all incorporate into our own morning rituals to achieve higher success and order.

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realtor working

Fleximize took a look at the morning habits of 26 of the country’s most successful individuals to include the President of the United States Barrack Obama, Arnold Schwarzenegger, Steve Jobs and even Oprah Winfrey.

What was discovered? Well, each of the men and women on their chart start their day early with time blocked out for exercise and meditation, breakfast and family. In short, things that are important!

Someone, somewhere coined it best: “If it has to happen, then it has to happen first!” Everyone has an “it.” Anyone who has managed to find professional success is surely embracing this philosophy. The first hour(s) of the day are used doing whatever is one’s top-priority activity. And no sooner do you start you risk the priorities of everyone else creeping in.

Interestingly enough, exercising in the morning is one of the group’s top priorities. It’s been said many times that exercise helps keep productivity and energy levels up and better prepares us for the everyday challenge of achieving all we can.

From start to finish, the daily life of each successful person is very much dictated by their family and job. But there are definitely some patterns that we can all incorporate into our own lives to achieve higher success and order.

An Insider article found that “the most productive people understand how important the first meal of the day is in determining their energy levels for the rest of the day. Most stick to the same light, daily breakfast because it works, it’s healthy for them and they know how the meal will make their mind and body feel.”

The Fleximize chart demonstrates that successful people consider the quiet hours of the morning an ideal time to focus on any number of things: important work projects, checking email, meditation. And what’s more, spending time on it at the beginning of the day ensures that it gets complete attention before others chime in.

So check the chart and find someone you can relate to.

BI points out that planning the day, week, or month ahead is a crucial time management tool designed to keep you on track when you’re in the thick of it. Using the mornings to do big-picture thinking helps you prioritize and set the trajectory of the day!

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Op/Ed

Security of client information is important, so change the process

(EDITORIAL) Too many companies have had security breaches, which is bad enough, but is the process for insuring client information safety too old to secure?

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security too old to function

While it’s clear companies seem to get hacked regularly, the steps taken to keep users safe are a joke. Companies still rely on asking personal questions in an effort to make users feel safe, but those attempts are laughable.

I wasn’t laughing earlier this week as I was setting up a few new accounts.

As anyone knows, creating accounts can be a real pain in the buttocks. But, since I’m kind of a geek, I would sometimes find the humor in choosing and answering my three security questions. (Wondering if I’d remember the answers.)

What band was your first concert?
What was your favorite dog’s name?
Where were your parents married?
What model was your first car?
Who was your childhood bff?

Cool.

I never thought much about the security questions until the last few times when I encountered a few like this:

In which city were you married?

What is the name of your eldest child?

At what time of day was your oldest child born?

How old was your father when you were born?

What?

I felt I had taken a step back in time.

Sure, these questions might be ok, if there were a lot of options, but these were four of the seven provided.

I’m not a super touchy person who gets triggered easily or angered at the drop of a hat. But, these questions made me question this process and its security.

Whether you’re a man or a woman, in this day and age, it’s quite possible you’ve never been married or had a kid. It’s also possible for some folks, they didn’t know their dad. Or, if they do, maybe they don’t want their security question asking how old he was when they were born.

But, the bigger question: Why so very personal? And, from a woman’s perspective, why so presumptive. It made me wonder: are the questions the same for a man or a woman of any age?

I can’t imagine a 22-year-old being asked about the birth of their eldest child. Or, where they were married.

These questions had to be options based on my age and gender.

I chose the questions I could answer like, where was my elementary school located.

But, I didn’t feel safer for answering. Somehow I felt like the company asking them was 1) Prying to gather personal data 2) Not concerned about safety 3) Was sexist.

As many others have argued, it’s time to shut this process down, if only for the fact that it doesn’t make us safer online. This is a practice that should be relegated to the past, just like the presumptive questions being asked.

Seems no matter where you look online, banks, retailers and even medical providers are hacked. Our information is floating in space on the interwebs.

Obviously, security is a top concern. Who wants to sign up for a service only to find out later, “OOPS, our bad, your information was hacked. Here, we will give you free credit monitoring for a month.”

Doesn’t cut it.

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Op/Ed

How we can prepare to slowly start going back into our offices

(EDITORIAL) At some point a supervisor, or manager may tell you to come back into the office. Are you dreading that call? If so, what can you do to prepare for it?

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Office return

Returning to the office is an inevitability for most of us. So how can we prepare to go back to work in a not-yet post-pandemic world?

Harvard Business Review (HBR) has some great feel good ideas about how you can return to the office. According to their article, you should “be a source of joy,” and “stock up on patience.” I’d love to live in a world where our situations allowed endless accommodations, but this is real life and as independent contractors, any broker can cut any agent at any time, so we have to seriously keep up and serve clients despite this chaos.

1. Assess your own risk.

Managers will have to work with every team member to assess their own risk and vulnerability. There’s a lot of unknowns at this point, including how schools will work and whether childcare is available. People who feel more vulnerable because of other health risks may need accommodations. I would like to think that workplaces should help to make accommodations as much as possible, but I realize that for some businesses, that may not be possible. Everyone will have to consider their own situation and advocate for their own needs.

2. Prepare for change.

Humans don’t always adapt to change very well. It’s time to start thinking about how the office will change when you return. You may be more isolated due to distancing protocols. There may be schedule changes to prevent too many people in the building at one time. The office may feel unfamiliar for quite some time, which is understandable. You may also find yourself responsible for cleaning your space more often. Expect to have many different emotions as you go through the next few months.

3. Realize that there are things out of your control

Returning to the office is going to be a transition. Focus on what you can control. Manage your stress. In an ideal world, your work would be proactive and provide honest responses to your concerns, but we all know those jobs are few and far between. Don’t expect the problems you had in your job pre-COVID to change. You’re just going to have to adapt to a post-COVID work environment. Only you can measure whether the benefits of your job outweigh the problems. Realize that there are many forces that you can’t change. Your broker or manager may not even be in control of some of those forces and has to adapt the same as you.

4. It’s not your place to change your company’s culture (unless you’re the broker)

HBR asks, “What part will you play in making (the transition back to the office) mean something extraordinary?” I’d like to posit that the transition back to the office doesn’t need to be anything special. It’s just part of the normal routine. Instead, I’d ask, “how can you deal with change while protecting your health and your family?” If your company is putting profits ahead of people, maybe it’s time to polish off that resume and look for a place with some decency.

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