Last week Brian Boero over at 1000watt Blog wrote a great article that highlights an important fact: Real estate is ready for a disruption.
What the article says is that with most industries being revolutionized by the internet, real estate is one of the few that has not. It has been innovated and shaken, but by no means has it been disrupted – YET.
- Online stock brokerages have put many local stock advisors out of business. There are still many out there, but a lot less than there was 10 years ago.
- iTunes, Amazon, and other online book and music sales have disrupted local music stores and CD sales.
- The vast availability of news on the internet has put many magazines and newspapers out of business.
- When was the last time you used a travel agent?
In real estate, technology is only a tool to get you where you need to go. The true disruption comes from a change in behavior, a change in mindset, or a change in business model. For a good example of technology causing some disruption, make sure to check out how one Austin Real Estate team is shaking things up.
So back to my original question: Are you a disruptor or are you going to be disrupted? Are you doing business the same way you were 10 years ago? Perhaps it is time for a change. What are your thoughts?