the rise of the autonomous consumer & the opportunities for realtors® webinar

JOURNEY OF DISCOVERY

RISE OF THE AUTONOMOUS CONSUMER & THE OPPORTUNITIES FOR REALTORS®

THEME 1: CONSUMER AUTONOMYWEBINAR

29 May 2014

Journey of Discovery Website

This trend is not going away It is affecting your industry It has major implications for REALTORS®

Why You Should Care About Consumer Autonomy

Consumer Involvement

You are lucky.

Engaging BrandsInvolve Customers

Image Credit: Arturo de Albornoz “Nike Transparent Billboard”, under Creative Commons Attribution-ShareAlike 2.0 Generic

The IKEA EffectYou build it. You love it.<Play>

Image Credit: James Willock, “build($ikea->desks),” under Creative Commons Attribution-ShareAlike 2.0 Generic

DIY Engagement

Image Credit: Intellimortgage via ratehub.ca

Make Your Brand Stand Out

<Play>

Image Credit: Mitchell Laurren-Ring “Voodoo Doughnuts”, under Creative Commons Attribution 2.0 Generic

What? The ability for consumers to choose products/services independently, rationally and without undue influence or pressure.

Why?Driven by a consumer desire for an unbiased process and perceptions of value for service.

Consumer Autonomy

Leveraging Consumer Autonomy

Image Credit: Mercedes-Benz of Austin, Bob Nolen

Friction Points

REALTOR®  

Image Credit: Dash by AmazonFreshOfficial

Reducing Friction

<Play>

DisintermediationRemoving the middle(wo)man

Image Credit: Bruce Spear, Berlin School of Economics

Disintermediation

Image Credit: Josh Breinlinger, Disintermediation in Marketplaces and How to Avoid It

• Driven by perceived low value• What percent of your clients would rate you

“Excellent” on value for services received?• Satisfaction data (NAR)

Has It Already Begun?

Switching on the Rise, Loyalty on the Decline

Image Credit: Wind Mobile

“Real estate brokers and agents are doing a damn fine job of disintermediating themselves with lackluster, lackadaisical, lackwit service.” Rob Hahn A Tale of Two Listings: Foreshadowing of the Future

Is the REALTOR® Complicit?

Help consumers make better decisions.ure

Adding Value

Image Credit: Dan Ariely, Chapter 1: The Truth About Relativity, Predictably Irrational

Which dark orange dot is bigger?

Image Credit: realtor.ca

Image Credit: The New York Times, “Is It Better to Rent or Buy?”

Perfect Storm,Perfect Opportunity

Questions

What is the biggest contributing factor to consumers becoming more autonomous, particularly early in the transaction?Top 2: Technology (50%), Value for services

provided (25%)

Which do you feel presents the greatest underutilized opportunity for co-creating solutions with buyers/sellers?Top 2: Developing the marketing plan and tracking

effectiveness (28%), Due diligence (26%)

Registration Question Responses

Do you see increasing consumer autonomy as a threat or an opportunity for your industry?<Press the dial pad on your phone>

#1 Threat#2 Opportunity#3 Don’t know

We Have a Question for You

• Capitalize on consumer engagement?• Create emotional experiences?• Reduce friction in the transaction process?• Circumvent disintermediation?• Add value to the process?• Stand out from the competition?• Service the new generation of Millennials?

How will the REALTOR® of the Future...

1 2 3

May 29 June 19 July 10

Consumer Autonomy

REALTOR® Professionalism

REALTOR® Match

Journey of Discovery Webinars

http://web.bcrea.bc.ca/jod/events.htm

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