Real Estate in the Age of The Experience Economy makes YOU the Commodity - #KeySuccessIdeas

Posted by Key Yessaad @zenkey on August 26, 2019 at 5:00 AM

One of the misconceptions made by laypeople about the current cycle of the economy is they think we are in a Technology Economy; or an Online Economy; or a Social Media Economy; or more recently an Influencer Economy - a la Instagram. #KeySuccessIdeas - Well while these ideas are correct, a more fitting concept is that we are in the age of “The Experience Economy.” This new economy is the Customization of Services to the unique needs of customers; and it fits really well within the Real Estate Industry. Consider this quote by Joseph Pine: “Fundamentally, customers do not want choice; they just want exactly what they want.”  


Joseph Pine illuminated to all of us this shift in Economic Value in his TED Talk a few years back. We are all familiar with the Agrarian Economy - or the extraction of commodities from the ground; which was followed by the Industrial economy - or the making of Goods from raw materials; then came the service economy - namely the commoditization of Goods, and emergence of services. The Experience Economy is driven by the empowerment of customers and the Openness of the Internet for Pricing Discovery. This shift has forced the Service Sector to start offering Individualized Buying Experiences tailored specifically to a narrower group of customers; sometimes narrowed to the single need of a customer.  


This type of customization is happening at a faster clip in the Real Estate Industry; where cookie cutter homes and purchasing is a thing of the past. Our Real Estate Professionals have to become more valuable and offer tailored experiences - this simply means that they are no longer marginal to the transaction - they are the transaction. By virtue of offering unique experiences, this new breed of Real Estate Agents is what is being bought and sold by consumers.  


Branding the Professional, Not just the Brokerage, has now become indispensible - but few Brokerages are offering proper Mindset Training and Branding Solutions to help in this natural progression. Many of them are still working on perfecting the transactions, and not enough on chiseling the new breed of Real Estate Professionals. Two avenues that have yet to flourish in their proper usage are Video Marketing and Public Speaking; they are used haphazardly and left for the agents to dabble to the best of their creativity - We must do better.  


The New Experience-Centric Real Estate Professionals love and welcome Public Speaking, dress immaculately, are Full-Time and do not dabble, juggle Technology with ease, understand finance well, study negotiation, prepare for all appointments with proper statistics, study psychology and behavior, love podcasts and are podcasters, love video and use them carefully for Branding, study design and home décor, build personalities on Social Media especially Instagram, make time to get to know the major influencers, Plan their day well, attend cultural and public events, and are avid readers. All these traits come together to build unique ways of engaging the public about the Real Estate Market, focusing on the Buying/Selling Experience NOT the Sale’s Transaction.  - #8WeekSuccess 



Written and Shared by Key Yessaad, Master Real Estate Strategist, Veteran Real Estate Trainer, Expert SEO Consultant, Internet Marketing Specialist, and Business Mentor/Coach. (910) 538-6610 - 


Related Hashtags: #ExperienceEconomy #VideoMarketing #PublicSpeaking #Entrepreneur #KeyTrainingWorkshops #RealEstate #RealEstateMentoring #Motivation #Inspiration #RealEstateBootCamp #Success #RealEstateSEO - #RealEstateCoaching #RealEstateTraining #KeySuccessTraining #LiveTrainingRE #Agents #RealEstateMotivation #Realtor

Categories: Key Success Ideas, Real Estate Business, Thought of the Day

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