Where does the consumer fit into the new emerging real estate economy?

The consumer now drives the train. Armed with access to property information, multiple ancillary support services, online mortage and title services, the consumer has more power over the transaction than the broker and agent combined. Today's consumer will have a 70-80% chance of conducting research via the Internet prior to selecting a brand, company or agent. e-Partner believes that the consumer's appetite for information is insatiable and that brand, broker and agent are now secondary to real estate transaction.

It is not uncommon for an online consumer who is considering relocation to be conversing via email with any number of brands, companies and their agents without preference or loyalty. The information trough is the Internet. It knows no bounds and requires little, if any, brand loyalty. The initial contact a consumer has with a brand, broker or agent, is becoming increasingly irrelevant to the outcome. This is not to say the consumer does not recognize brand but they are not as loyal or predisposed to brand as they once were. There is simply too much information available and the decision to attach to a brand, broker or agent is delayed by the consumer as they wallow in a sea of real estate information.

The consumer is telling us what they want. They, through their millions of online actions are communicating and defining the new emerging real estate economy. In fact, they are screaming at those of us in the industry. What are they saying? Simply this:

• Give me a simple and meaningful experience that doesn't obligate me in any way until I am ready.
• Unify the expression and presentation...I hate websites I don't understand and and are difficult to ooperate.
• I'm not looking for a brand, a broker or an agent...I'm looking for information and solutions.
• If you make it too difficult, I'll leave.
• When I want something, send it to me, immediately, today...I don't like delay.
• Be there are 2 a.m. in the morning, any day of the week, all night and on holidays.
• Don't take my email too seriously, I'm just thinking about things.
• Stay with me, long term and if you do, I'll hire you.

The brokerage firms of tomorrow will be finding ways to create consumer loyalty, repeat visits, long conversations spread out over time and a kind of cyber swat team mentality that can penetrate any market for any consumer for any product at any time and produce results.