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The Rise of the Autonomous Consumer & the Opportunities for REALTORS® Webinar

Aug 23, 2014

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Real Estate

The following are the accompanying slides to the BCREA Journey of Discovery Webinar on the Rise of the Autonomous Consumer & the Opportunities for REALTORS®.

Consumers are consistently handling more of the real estate transaction process themselves. We are all familiar with the data and have the first-hand experiences to support it. This DIY behaviour is also sparking new tension in the relationship between REALTORS® and their clients, generating questions of value and roles. While the typical reaction is defensive, our research demonstrates a number of offensive strategies for how REALTORS® can benefit from the rise of the autonomous consumer.

Join us for the first of our three summer webinars where we will share our research and examples of how REALTORS® can respond to the changing consumer landscape to be more successful.

  • JOURNEY OF DISCOVERY RISE OF THE AUTONOMOUS CONSUMER & THE OPPORTUNITIES FOR REALTORS THEME 1: CONSUMER AUTONOMY WEBINAR 29 May 2014
  • Journey of Discovery Website
  • This trend is not going away It is affecting your industry It has major implications for REALTORS Why You Should Care About Consumer Autonomy
  • Consumer Involvement You are lucky.
  • Engaging Brands Involve Customers Image Credit: Arturo de Albornoz Nike Transparent Billboard, under Creative Commons Attribution-ShareAlike 2.0 Generic
  • The IKEA Effect You build it. You love it. Image Credit: James Willock, build($ikea->desks), under Creative Commons Attribution- ShareAlike 2.0 Generic
  • DIY Engagement Image Credit: Intellimortgage via ratehub.ca
  • Make Your Brand Stand Out Image Credit: Mitchell Laurren-Ring Voodoo Doughnuts, under Creative Commons Attribution 2.0 Generic
  • What? The ability for consumers to choose products/ services independently, rationally and without undue influence or pressure. Why? Driven by a consumer desire for an unbiased process and perceptions of value for service. Consumer Autonomy
  • Leveraging Consumer Autonomy Image Credit: Mercedes-Benz of Austin, Bob Nolen
  • Friction Points REALTOR
  • Image Credit: Dash by AmazonFreshOfficial Reducing Friction
  • Disintermediation Removing the middle(wo)man Image Credit: Bruce Spear, Berlin School of Economics
  • Disintermediation Image Credit: Josh Breinlinger, Disintermediation in Marketplaces and How to Avoid It Driven by perceived low value What percent of your clients would rate you Excellent on value for services received? Satisfaction data (NAR)
  • Has It Already Begun?
  • Switching on the Rise, Loyalty on the Decline Image Credit: Wind Mobile
  • Real estate brokers and agents are doing a damn fine job of disintermediating themselves with lackluster, lackadaisical, lackwit service. Rob Hahn A Tale of Two Listings: Foreshadowing of the Future Is the REALTOR Complicit?
  • Help consumers make better decisions.ure Adding Value Image Credit: Dan Ariely, Chapter 1: The Truth About Relativity, Predictably Irrational Which dark orange dot is bigger? Image Credit: realtor.ca
  • Image Credit: The New York Times, Is It Better to Rent or Buy? Perfect Storm, Perfect Opportunity
  • Questions
  • What is the biggest contributing factor to consumers becoming more autonomous, particularly early in the transaction? Top 2: Technology (50%), Value for services provided (25%) Which do you feel presents the greatest underutilized opportunity for co-creating solutions with buyers/sellers? Top 2: Developing the marketing plan and tracking effectiveness (28%), Due diligence (26%) Registration Question Responses
  • Do you see increasing consumer autonomy as a threat or an opportunity for your industry? #1 Threat #2 Opportunity #3 Dont know We Have a Question for You
  • Capitalize on consumer engagement? Create emotional experiences? Reduce friction in the transaction process? Circumvent disintermediation? Add value to the process? Stand out from the competition? Service the new generation of Millennials? How will the REALTOR of the Future...
  • 1 2 3 May 29 June 19 July 10 Consumer Autonomy REALTOR Professionalism REALTOR Match Journey of Discovery Webinars http://web.bcrea.bc.ca/jod/events.htm
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