Paul McEwan

A number of months ago I went to a networking, sales, meet-up with a quick interesting seminar by Ian Watt he titled “Death of the Old School Realtor” about how the use of web 2.0 and Social Networking will change the face of real estate marketing completely in the next 3 to 5 years and those who don’t keep up will be leapfrogged by the up and coming competition. He’s right but my mind took it a few steps further, what about 10 to 15 years?

At the rate we’re changing, the talk might have been called “Death of the Realtor”. The “Gutenberg phenomena” called the Internet will eventually change real estate so completely we won’t recognize it. Their commission structure have already been under fire for a long time as discussed in a stream on NPR here, read in the New York Times article “Endangered Species” and Maclean’s, “Money for Nothing, Lawn Sign for Free“.

The event he spoke at was a networking shin-dig sponsored by Ubertor and Reachd via Meet-up, and it was interesting, informative and for anyone who’s taken any marketing courses, re-informative. What I found more interesting and just as informative was the fact that a Realtor would act this transparent. I mean this in a ‘good for him’ way. It’s really refreshing to see a Realtor give out his “secrets”. He’s not the only participant at this event who thinks in this way. There is a following to this thinking. The topic of an online ustream.tv discussion I took part in was how the public listing tool realtor.ca was not very transparent and easy for the public to use.

The same technology that makes it easy to market product online, access information and inform the public will eventually have the public scratching their heads as to why the commissions are spread the way they are and if Realtors are willing to market and change then the change will come. I think it’s worth writing a bit about it so I did.

Whether the change is grass roots and forces the industry to change or self regulated is something someone else can speculate on. All I know is this: Those future earners who have never known the world without the Internet, who they choose to help them sell and purchase their homes could very well be a different type of person than today’s Realtor.