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Digital Disruption is a Threat and an Opportunity

February 15th 2018

Disruptive technology isn't the only threat to the real estate industry. Technology's effect on people is where the most transformative disruption is taking place. Whether it's buyers, sellers or those providing services at every step of the real estate journey, technology is making people more connected, informed, empowered, demanding, impatient, even narcissistic.

But more so, disruptive technology is changing the core of people, their expectations, preferences, behaviors, values, norms, etc. How, the entire landscape of how people discover, make decisions, choose partners, etc. is undergoing evolution and revolution and it's driven from the outside in. At the same time, many industry veterans don't see the change because it's not affecting their day-to-day process or numbers. But like in any disruption, every industry will have its "Kodak Moment," that moment when you realize that customer behaviors and preferences changed so dramatically from your assumptions that it's too late to change.

Disruption is a choice. It's a gift either given to you or a gift given by you. Once someone tastes a new, exceptional and personal experience that they love, whether it's buying, selling, serving, or all of the above, people don't go backward. They start a new path of doing seeking these new experiences on every front and as they do, they make the old models and processes obsolete.

Real estate is near and dear to my heart having many friends in the industry. In the last two years alone, I've keynoted half a dozen real estate events for all sides field. I'd like to share a special conversation I had an industry veteran, George Cuevas, from 2016. While it seems like a lifetime ago, we discussed the very things that are starting to take hold in real estate, what's to come and what everyone can do to survive and thrive.

Disruption is an opportunity to innovate and excel!

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Digital Disruption is a Threat and an Opportunity
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