According to The Business Insider, the on-demand economy is defined as ‘the economic activity created by technology companies that fulfil consumer demand via the immediate provisioning of goods and services.’
On demand is no longer a new idea, innovative or even just in its early stage. It is the present. ‘The new on-demand models have opened the door to real-time fulfilment of goods and services, which consumers have embraced with a frequency that is unprecedented.’
Let’s consider the real estate industry and the current practice of agents:
“I want to do my buyer call-backs between 10 and 11am.”
“I’ll do my appraisals between 4 and 6pm.”
“I want to speak to my client’s face to face and not use chat.”
“I don’t want buyers checking in at my opens, I want to greet them.”
Notice anything? All these statements begin with ‘I’. The reality is that the real estate industry is a consumer facing industry and agents must, now more than ever, put their customers at the heart of their business. This means that company policy,processes and technology all need to be geared towards making your business better than your competitors – as well as the web portals.
If agents stick their heels in and don’t evolve their operations, they will be left behind. For example: “I want to do my buyer call-backs between 10 and 11am.” Reality is that buyers don’t care about agents needs, nor should they. They want their agent to serve them ‘on demand’. This means when a buyer has a question, they can connect - instantly. The quicker the response, the better they’ll feel.
Right now buyers are filling in a contact form on a web portal. If that web portal rolls out a chat engine, agents will have to use it. If agents use a web portal chat engine to communicate with their buyers, it’s game over. This is because the very entity that you pay for buyer leads is getting your leads first.