About The Real Estate Group

The Real Estate Group (TREG) "Partners in Excellence"

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.

The Gentle Revolution

What happens when smart young buyers connect with wise old REALTORS®?

Over the past few decades, the real estate industry has seen quite a transformation in the American Consumer. Today’s consumers are a force to be reckoned with and their expectations and demands are changing the way agents practice business as well as setting new standards for the industry.

Brokerage firms and their agents will continue to feel the effects of this shift in modern day consumer power which is derived from something as old as the industry itself; competition. The internet has spawned a whole new dynamic of competitive behaviors and gives consumers more choices to help them make more informed decisions.   Today’s consumer is socially, ethically and environmentally conscious and they seek to use their voices and purchasing power to put pressure on businesses from every direction.

This chapter in Swanepoel’s book provides REALTORS® with an in depth look at this shift in consumer power but he outlines some main concepts that are important to mention.

  • Consumers enter the real estate market very knowledgeable and much more prepared with a full array of information.
  • Almost 75% of consumers have already identified a target neighborhood, properties they want to see and often times even a home they would like to purchase.
  • Consumers have developed both financial and lifestyle knowledge relative to specific properties and neighborhoods.
  • Consumers have most likely used some form of rating system or consumer generated peer to peer communication to identify which agents they want to work with.
  • Consumers most likely will praise their agent online or communicate their agents weaknesses in the area of professional knowledge or responsive behaviors.

Despite the generational differences in today’s consumer; it is really hard to fool the technically connected customer.  The internet makes it too easy to verify information and compare services.  It is now the minimum standard of practice for agents to have the latest technologies, various ways to communicate and immediate responsiveness.  Ultimately, understanding this shift in consumer power should incentivize real estate agents to make a special effort to create a more advanced and personal kind of working relationship than ever before.

For a full copy of The Swanepoel TRENDS Report, visit www.retrends.com

About The Real Estate Group

The Real Estate Group (TREG) "Partners in Excellence"

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.