Realtors in 2025

Presented here is a vision of the future.   These ideas take successes found in other industries and apply them to a real estate business model.  To get started you must suspend your current thinking and begin to imagine what could be.    Forget about today’s norms and practices and focus on what would make the most sense for the “trade” of real estate going forward.   Is there a methodology that could provide a greater good for all realtors?

Homeowners have investment plans.   Otherwise, they wouldn’t be in the position to own a home.  A vast majority of these homeowners hire or pay professional money managers to oversee their retirement plans.   And in most every case, the “home” is the largest investment in everybody’s retirement account.    

This means homeowners are more than willing to pay a professional to manage their overall retirement account.  But when it comes to the largest investment within that account, they wing it!   Your financial analyst from Fidelity hasn’t a clue about the ramifications of a new fence and what it means to the value of your property.   “Do I replace the roof now and turn it into a selling point, or do nothing and hope the buyer isn’t too picky”?  Don’t ask Marcum.  “Hey, an indoor hot tub would be cool”.  No, it wouldn’t! 

House Calls

At a doctor’s office you can still see filing cabinets with hundreds of manila tab folders.  Presumably there is patient information within.  Applying this idea to the new real estate world would make it electronic, but the visual representation remains.  Hundreds of file folders containing house addresses instead of patient names.   A running repair and status history with recommendations and potential costs.   The home becomes the patient.

Have you ever noticed how a doctor’s conversation with a patient has many of the same characteristics as a conversation between realtor and homeowner?  

Patient: “22-year-old ranch style home. Original roof.  HVAC is 6 years old.  Decking old and out of code.  Several clouded windows.  Landscaping minimal.”

Sounds like a rundown a doctor would give doesn’t it.   

Recommendation: “Replace roof within 12 months, get decking back to code. Fix windows.  Create landscaping plan to accentuate ranch-style architecture”.  

Again, much like a doctor’s advice, less diet restriction.  

Nobody likes going to a doctor, but we do it because it’s good for us.  Yearly check-ins with your financial advisor are mandatory.   Also good for you.  But who is looking out for the home?  The homeowner?

One aspect of real estate that never gets talked about is the consumer’s “transition” period from one property to another.   While statistics may be changing, the big picture still shows consumers buying between 5 – 7 properties over a lifetime.  Managing the jump from property to property can yield consumers huge dividends down the road.  Do you know who manages a housing transition better than anyone else?  Realtors themselves.

Realtors spend the least amount prepping a home for sale and they still get the highest value.  Spend as little as possible to achieve a highest perceived value.  Duh.  But when the average consumer considers a significant home improvement, they don’t often consult a realtor first.   But they should. 

I can personally say the transition management of my last 4 purchases, compounded over time, has put me in the position of living in a house that I couldn’t otherwise afford.  Working with realtors did that.   Would I be in a house without working with realtors—of course.  Would it be as nice—probably not.  It’s the little things, a few grand here a few grand there, compounded from house to house that really adds value over time. 

“You really think we could get that?  “That’s all that costs?”  “I have to change what?”  Listen to your realtor!  I guarantee you over the course of your housing lifetime, working with realtors will save/add six figures to your housings bottom line.

Houses are the new patients.  Realtors are the new doctors. 

In our next blog we will introduce the concept of a “Home Asset Manager”.   These people are diagnostic realtors dedicated to the preservation and upkeep of residential property.   They want your home to be the best it can be.      
How do we get the general public to call a realtor when home sales are NOT involved?  Maybe we just change the name? 

 

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