Most agents think they’re selling homes. That’s the problem
The next decade will likely widen the gap between agents who chase transactions and those who control inventory, coach Verl Workman writes.
The real estate industry is on the cusp of a significant shift, and agents who fail to adapt may find themselves left behind. The notion that most agents think they're selling homes highlights a critical issue - many are focused on transactional work, rather than taking a more strategic approach to the business. This mindset can lead to a reactive, rather than proactive, stance in the market.
As the industry evolves, agents who control inventory and take a more consultative approach will likely have a significant advantage over those who simply chase transactions. This is because controlling inventory allows agents to dictate terms, build relationships with clients, and create long-term value. In contrast, agents focused solely on transactions may find themselves at the mercy of market fluctuations and competing with others for a limited number of listings.
As we look ahead to the next decade, it's clear that agents will need to rethink their business models and develop new skills to remain competitive. What to watch next is how agents respond to this shift, and which ones are able to successfully pivot towards a more inventory-focused approach. Will traditional brokerage models give way to new, more innovative structures? Only time will tell, but one thing is certain - the agents who adapt and evolve will be the ones who thrive in the changing real estate landscape.
Originally reported by inman.com. ASIDNews adds analysis for real estate & property readers.