📈Consumers are smarter than ever by Jonathan Broekman

📈Consumers are smarter than ever by Jonathan Broekman

Category Investing

In today's world, consumers have more information at their fingertips than ever before. Gone are the days when someone would walk into a property viewing knowing very little about the home or the neighbourhood. Now, armed with online listings, virtual tours, price comparisons and in-depth community data, buyers and sellers alike are incredibly well informed. As a professional who's been in the industry for years, I can confidently say this has completely changed the game - and this is not only true for the real estate industry - many industries have had to up their game to stay competitive and survive. 

Knowledge is Power
I've always believed that knowledge is power; and as consumers continue to get savvier, it's pushed us to raise the bar even higher. Consumers and customers have "upskilled". Buyers are asking increasingly detailed and technical questions that demand more than just the basics. They want to know everything - from the long-term sustainability of the neighbourhood to planned future infrastructure developments - and they expect us to have answers ready.

Interview by the Seller & Buyer
I recently experienced  a seller interviewing me before  I was invited to assess their property. They were extremely well-versed in the current market conditions, the specifics of comparable home sales, and even how various marketing techniques could impact their home's visibility online. They asked me the kinds of questions I expect from seasoned buyers, like, "How will your marketing reach international buyers?" and "What online platforms do you use to ensure maximum exposure?" It was clear that they wanted an agent who could deliver more than just a sale, they wanted a comprehensive service that matched their own level of understanding.

Buyers too, have raised the bar. In my experience, they're no longer just asking, "How many bedrooms does this house have?" but diving deeper: "What are the projected property value trends in this area over the next five years?" or "What's the history of development around here, and how will it affect my investment?" It's this level of curiosity and informed decision-making that we are ready for, because we've upskilled ourselves to meet and exceed their expectations.

Embracing new Tools
We've invested heavily in marketing, embraced new technologies and consistently stay on top of market trends. Whether it's mastering new digital tools, analysing market shifts, or honing negotiation skills; we're not satisfied with just keeping up with today's consumers. Ultimately, this is what sets us apart. 
But this evolution isn't limited to real estate. In any industry, keeping up with trends is no longer optional, it's essential. Whether you're in tech, finance, retail or healthcare, staying relevant and informed is what sets great companies apart from good ones. 

With this in mind, here are my eight tips for staying ahead of the curve in any field:

1. Follow thought leaders
   Keep an eye on industry influencers and thought leaders who often signal shifts before they become mainstream.
    
2. Invest in your team
   A well-trained, motivated team can offer fresh perspectives and solutions.
    
3. Monitor the competition
   Stay aware of what your competitors are doing; and adapt or differentiate accordingly.
    
4. Evaluate and refine your strategies
   Regularly assess what's working and what's not; and be willing to pivot if necessary. 
    
5. Listen to your customers
   They often provide the best insights into what's changing in the market.
    
6. Adapt to new technology
   Don't be afraid of innovation; instead, explore how it can improve your processes.
    
7. Stay connected with your peers
   Networking and sharing knowledge keeps you informed of broader industry trends.
    
8. Take calculated risks
   Staying ahead sometimes requires stepping out of your comfort zone. Be willing to explore new strategies and make bold moves when opportunities arise. 

With so many resources available to consumers, they expect more from businesses today. It's no longer enough to simply keep up; we need to ensure that we're as informed as our clients, if not a few steps ahead. Whether you're in real estate or any other industry, staying proactive, continuously learning and anticipating your clients' needs is what will set you apart and build lasting trust.

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Warm regards,  
Jonathan Broekman  
CEO / Principal of Homes of Distinction

Author: Jonathan Broekman