{"id":260,"date":"2008-07-30T23:43:06","date_gmt":"2008-07-30T23:43:06","guid":{"rendered":"https:\/\/bhgrealestateblog.com\/?p=260"},"modified":"2024-12-30T14:54:37","modified_gmt":"2024-12-30T19:54:37","slug":"mapping-the-brokerage-of-the-future-part-i-of-ii","status":"publish","type":"post","link":"https:\/\/bhgrecareer.com\/bebetterblog\/mapping-the-brokerage-of-the-future-part-i-of-ii\/","title":{"rendered":"Mapping the &#8220;Brokerage of the Future&#8221; PART I of II"},"content":{"rendered":"<p><strong>Post Contributors: Sherry Chris, Marc Davison &amp; Kevin Doell<br \/>\n<\/strong><br \/>\nOne of the best parts of any industry conference is tapping into the collective brainpower of very bright and committed professionals. At <a href=\"http:\/\/www.inman.com\">Inman\u2019s<\/a> Real Estate Connect San Francisco we sponsored the \u201cReal Estate Brokerage of the Future\u201d breakout sessions.<\/p>\n<p>To wrap up the sessions, we wanted to play to the strength of the attendees by getting them to interact and put down their best ideas on paper. Turning an afternoon panel session into a dynamic group workshop, we captured what the \u201cBrokerage of the Future\u201d should look like according to the 50+ attendees willing to role up their sleeves to share their ideas with colleagues and competitors alike.<\/p>\n<p>The task before the audience was to split into four groups and brainstorm about four components of brokerages. Four facilitators worked with the groups, including, <a title=\"Marc Davison\" href=\"http:\/\/www.1000wattconsulting.com\/about.php\" target=\"_blank\" rel=\"noopener\">Marc Davison<\/a> and <a title=\"Brian Boero\" href=\"http:\/\/www.1000wattconsulting.com\/about.php\" target=\"_blank\" rel=\"noopener\">Brian Boero<\/a> of <a title=\"1000 Watt Consulting\" href=\"http:\/\/www.1000wattconsulting.com\/\" target=\"_blank\" rel=\"noopener\">1000 Watt Consulting<\/a>; <a title=\"Rick Spencer\" href=\"http:\/\/www.linkedin.com\/in\/rickspencer3\" target=\"_blank\" rel=\"noopener\">Rick Spencer<\/a>, director of IT at <a title=\"Windermere\" href=\"http:\/\/www.windermere.com\/\" target=\"_blank\" rel=\"noopener\">Windermere<\/a>; and <a title=\"Chris Crocker\" href=\"http:\/\/www.linkedin.com\/in\/chriscrocker\" target=\"_blank\" rel=\"noopener\">Chris Crocker<\/a>, of <a title=\"NRT\" href=\"http:\/\/nrtllc.com\/index.html\" target=\"_blank\" rel=\"noopener\">NRT<\/a>.<\/p>\n<p><a title=\"Sherry Chris\" href=\"http:\/\/www.bhgrealestate.com\/Views\/Franchise\/Article.aspx?URLData=&amp;selected=SH33&amp;id=706\" target=\"_blank\" rel=\"noopener\">Sherry Chris <\/a>worked around the room with all the groups and did a quick wrap up.<\/p>\n<p><a href=\"https:\/\/bhgrecareer.com\/bebetterblog\/wp-content\/uploads\/sites\/11\/2008\/07\/facilitators.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-medium wp-image-261\" title=\"Think Tank Facilitators at the \" src=\"https:\/\/bhgrecareer.com\/bebetterblog\/wp-content\/uploads\/sites\/11\/2008\/07\/facilitators-300x199.jpg\" alt=\"From Left: Crocker, Chris, Davison, Spencer\" width=\"300\" height=\"199\" \/><\/a><\/p>\n<address><em>From left: Crocker, Chris, Davison, Spencer<\/em><\/p>\n<\/address>\n<address> <\/address>\n<p>The groups tackled the following topics:<br \/>\n<strong> 1.\tThe Physical Presence:<\/strong> Redefine the real estate storefront. What would it look and feel like internally to the agents and externally to the public?<br \/>\n<strong> 2.\tThe Virtual Presence:<\/strong> What would the online offering be \u2014 from website to technology?<br \/>\n<strong> 3.\tThe Business Model: <\/strong>What would the arrangement between broker and agent look like it if could start from scratch?<strong><br \/>\n4.\tThe Consumer Gets\u2026 :<\/strong> What do consumers, want from a new real estate brokerage?<\/p>\n<p>As Marc explained it, the most important criteria was to drop any preconceived notions and to think \u201cblue sky.\u201d After 30 minutes, a representative of each group briefed the whole audience on their top three ideas.<\/p>\n<p>Today, we\u2019ll start with \u201cThe Physical Presence\u201d and the \u201cVirtual\u201d and go through the rest in our next post. Comments and criticism are welcome. More ideas to add? Better yet.<\/p>\n<p>Sherry Chris provides her take below.<\/p>\n<p>For another perspective, check out <a title=\"1000 Watt Blog\" href=\"http:\/\/www.1000wattblog.com\/\" target=\"_blank\" rel=\"noopener\">Marc Davison\u2019s blog post <\/a>on the same topic, written with his usual flair and interpreted through his analytical lens.<\/p>\n<p><strong><span style=\"text-decoration: underline\">The Physical Brokerage Space of the Future<\/span><\/strong><br \/>\n(Facilitated by Brian Boero):<\/p>\n<p><a href=\"https:\/\/bhgrecareer.com\/bebetterblog\/wp-content\/uploads\/sites\/11\/2008\/07\/physical.jpg\"><img decoding=\"async\" class=\"alignright size-medium wp-image-262\" style=\"margin: 15px\" title=\"Workshop Participants Design the Future Space of Real Estate\" src=\"https:\/\/bhgrecareer.com\/bebetterblog\/wp-content\/uploads\/sites\/11\/2008\/07\/physical-300x199.jpg\" alt=\"Workshop Participants\" width=\"228\" height=\"151\" \/><\/a><\/p>\n<ul>\n<li> A smaller physical space\n<ul>\n<li> 900-1,200 square feet<\/li>\n<li> With a modern conference room<\/li>\n<li> Multi-use area for the public to access<\/li>\n<li> Small work stations that serve all the agents<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>Better Technology\n<ul>\n<li>Dual broadband network that includes a secure network for internal agent usage and second unsecure public network offering free Wifi to the local community that extends as far out of the office as possible.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>Cool Environmentals\n<ul>\n<li>Apple meets Starbucks<\/li>\n<li>Multi-media enabled<\/li>\n<li>Serving refreshments<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><em><strong><span style=\"color: #0000ff\"><span><span style=\"text-decoration: underline\">Sherry\u2019s Take<br \/>\n<\/span><\/span><span> <\/span><\/span><\/strong><\/em><\/p>\n<p><em><strong><span style=\"color: #0000ff\">Everyone likes the \u201cshared space\u201d concept where nobody owns their workspace and everybody shares. If I was starting up a brokerage business today there is no doubt I would set up my offices that way. I have visited real estate offices that are set up this way in various cities and it feels right for the future of the business. The reality is though, that most existing companies are very heavily invested in bricks and mortar and it is financially challenging, if not impossible, to throw away existing office space and start fresh, particularly in this type of market.<\/span><\/strong><\/em><\/p>\n<p><em><strong><span style=\"color: #0000ff\">There is the other problem of prying agents out of their private offices and telling them they have to share. Several years ago a Realty Alliance survey showed the average square feet per agent was in the 130-range. I am sure it is much lower today, but probably not low enough. A good measurement to use today is that you should be at least at 150{0a8e414e4f0423ce9f97e7209435b0fa449e6cffaf599cce0c556757c159a30c} capacity. So, for every 100 desks you should have 150 productive agents on your roster. If you currently have large offices, make them as productive as you can. And start thinking about how you want to reshape your business for the future. Think about the GenX and GenY agent of the future who feels more comfortable working out of an \u201cApple meets Starbucks\u201d environment. Check out Nicolai\u2019s recent post on <span>&#8220;<a title=\"Designing the New Real Estate Office\" href=\"https:\/\/bhgrealestateblog.com\/designing-the-new-real-estate-office.html\" target=\"_blank\" rel=\"noopener\">Designing the New Real Estate Office.<\/a>&#8221; <\/span>What do you think the ideal office should look like?<\/span><br \/>\n<\/strong><\/em><\/p>\n<p><span style=\"text-decoration: underline\"><strong>The Virtual Brokerage Space of the Future<br \/>\n<\/strong> (Facilitated by Rick Spencer)<strong>:<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/bhgrecareer.com\/bebetterblog\/wp-content\/uploads\/sites\/11\/2008\/07\/virtual.jpg\"><img decoding=\"async\" class=\"alignright size-medium wp-image-263\" style=\"margin: 15px\" title=\"Workshop Participants\" src=\"https:\/\/bhgrecareer.com\/bebetterblog\/wp-content\/uploads\/sites\/11\/2008\/07\/virtual-300x199.jpg\" alt=\"Workshop Participants Discuss the Virtual Presence of Real Estate\" width=\"228\" height=\"152\" \/><\/a><\/p>\n<p><strong>1.\tThe Omniscient Consumer<\/strong> easily accessing all property data available in MLS along with an objective view into an agent&#8217;s reputation and connections with mortgage brokers, title providers, etc. This transparency includes what work agents are doing on the behalf of consumers, <em>how<\/em> they are getting paid, and <em>how much<\/em> they are getting paid.<\/p>\n<p><strong>2.\tThe Broker as Listings Funnel.<\/strong> The logical conclusion of the shift towards listing aggregation sites results in brokers no longer maintaining separate web site silos, but rather brokers providing listings to &#8220;the cloud&#8221; on behalf of the agents. Consumers use their tool of choice to find listings they are interested in. The &#8220;traffic&#8221; from the cloud (buyers) is farmed out to agents most likely to provide a great customer experience. The broker no longer uses an MLS, as they are syndicating their listings to the cloud directly. The broker provides a team of specialists to provide services to agents, such as entering data, creating copy, formatting media, etc&#8230;<\/p>\n<p><strong>3.\tAgent and Consumer Choice.<\/strong> Radical transparency and new tool sets allow agents to create their own business models i.e., some become fee based, some hourly, some different commission structures. Consumers can take bids from agents, and choose a business model that suits them. Agents will be able to form teams that provide a variety of business models, and a variety of specialized services.<\/p>\n<p><span style=\"text-decoration: underline\"><em><strong><span style=\"color: #0000ff\">Sherry\u2019s Take<\/span><\/strong><\/em><\/span><\/p>\n<p><em><strong><span style=\"color: #0000ff\">Here the group talked about \u201cradical transparency\u201d and syndicating listings to a \u201ccloud\u201d \u2013 now that is pretty far out the for the brokerage world\u2026 or is it? I think most of us have come to terms with the transparency piece and the importance of it. We are entering the age of the consumer being in control, and if they don\u2019t get all of the information they need from us, they will quickly go elsewhere and not come back. The syndication of listings has gone mainstream and the race is on to see who will end up with the most listings and who can offer the better user experience. Heck, in just the week since we have launched, I had agents contact us asking if they could put their listings on our site &#8212; and they were with competing brokerages. I took it as a compliment, but also thought, maybe we could be on to something. Will a \u201ccloud\u201d replace MLS? What are your thoughts?<\/span><\/strong><\/em><\/p>\n<p><strong>What do you think?<\/strong><br \/>\nPlenty to comment on here. Is the big office dead? Are offices necessary at all? Who benefits the most? Does the MLS have a rightful place? Isn\u2019t there already enough choice in the marketplace?<\/p>\n<p>Tomorrow we&#8217;ll post the group&#8217;s ideas on the broker\/agent relationship and what the consumer wants<\/p>\n<p><strong>The &#8220;Not So Fine&#8221; Print<\/strong><br \/>\nThe opinions expressed on this site are the opinions of the participating users and may not necessarily reflect the views of Better Homes and Gardens Real Estate LLC, Realogy Corporation, or its affiliates, parents, and subsidiaries. 1000Watt is currently working with Better Homes and Gardens Real Estate LLC in a consulting capacity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Post Contributors: Sherry Chris, Marc Davison &amp; Kevin Doell One of the best parts of any industry conference is tapping into the collective brainpower of very bright and committed professionals. At Inman\u2019s Real Estate Connect San Francisco we sponsored the \u201cReal Estate Brokerage of the Future\u201d breakout sessions. To wrap up the sessions, we wanted [&hellip;]<\/p>\n","protected":false},"author":181,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141,181,261],"tags":[381,3961,5691,5721,21071,33981],"class_list":["post-260","post","type-post","status-publish","format-standard","hentry","category-marketing-and-branding","category-real-estate","category-technology","tag-1000-watt-consulting","tag-better-homes-and-gardens-real-estate","tag-brokerage-design","tag-brokerage-of-the-future","tag-inman-connect","tag-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mapping the &quot;Brokerage of the Future&quot; PART I of II<\/title>\n<meta name=\"description\" content=\"These are the results of a group work shop and think tank around what the future of the real estate brokerage should look like\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhgrecareer.com\/bebetterblog\/mapping-the-brokerage-of-the-future-part-i-of-ii\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mapping the &quot;Brokerage of the Future&quot; PART I of II\" \/>\n<meta property=\"og:description\" content=\"These are the results of a group work shop and think tank around what the future of the real estate brokerage should look like\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhgrecareer.com\/bebetterblog\/mapping-the-brokerage-of-the-future-part-i-of-ii\/\" \/>\n<meta property=\"og:site_name\" content=\"Better Homes and Gardens Real Estate Be Better Blog\" \/>\n<meta property=\"article:published_time\" content=\"2008-07-30T23:43:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-30T19:54:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bhgrecareer.com\/bebetterblog\/wp-content\/uploads\/sites\/11\/2008\/07\/facilitators.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"266\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Elizabeth Byrne\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Elizabeth Byrne\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bhgrecareer.com\/bebetterblog\/mapping-the-brokerage-of-the-future-part-i-of-ii\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bhgrecareer.com\/bebetterblog\/mapping-the-brokerage-of-the-future-part-i-of-ii\/\"},\"author\":{\"name\":\"Elizabeth Byrne\",\"@id\":\"https:\/\/bhgrecareer.com\/bebetterblog\/#\/schema\/person\/cba2618c2f68146c705ea5ed10947fe4\"},\"headline\":\"Mapping the &#8220;Brokerage of the Future&#8221; 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