Everything changes, and how real estate will be conducted in 2023 and onward for Realtors will change exponentially. If 50% of Realtors don’t or won’t change, they will not be around much longer, and if they are, their income will be minimal, as well as their lifestyle!
Here are a few points to ponder:
- Fee structures are and will be under attack.
- RECO regulations will change, which should be good, but RECO’s history is to tarnish or hinder the good apples with the few bad apples.
- Emotional intelligence & confidence will be required more than ever.
- Personal branding skills a must, and less reliance on Brokerage branding
- Not treating their real estate career as a business and knowledge of P&Ls, Balance Sheets, ROI, equity etc.
- Underestimating the time and consistency needed to stay in touch with their past clients, SOI and potential buyers or sellers.
- Teams will start behaving and functioning as brokerages, and brokerages will start behaving and functioning like teams!
There are many more than above, and I could write a sixty-page essay, but here is the point, stagnate and die or revive and survive!