Trends & Tides takes a look at the ever-changing environment of New York City real estate – past, present and future – by offering observations, analyzing perceptions and challenging myths, while giving a dose of reality along the way.
Yesterday, I was privy to an interesting war of words regarding a LinkedIn post. The two sides ultimately battled over whether a traditional brokerage model or a tech-centric model would fare better in today’s real estate environment. The comments were incredibly revealing with one member of a deeply entrenched, once-traditional brokerage clearly pointing out that adaptation is necessary to provide the best service to the consumer and ultimately cement the survival of any company in today’s real estate industry. I couldn’t agree more that a hybrid of tradition and technology best serves the consumer. The traditional broker who turns a blind eye to technology better rethink the ways in which they do business. Or suffer extinction. Similarly, the tech-centric brokerage that spends all of their dollars generating leads for agents, while showing little concern for the quality of customer service they are providing, is also doomed. Both models will fail independently without the other. Let’s look at the pitfalls of each: