For many, the reality of AI remains a mystery. For others, it has become a tool that is gaining ground and becoming a pillar in their business. The further you are from using AI, the more this mystery causes fear and anxiety. As the evolution of the real estate industry progresses, it becomes quite apparent that what worked in the past, may not be the way forward.

Historically, we saw the end of the traditional consumer, alternatively known as the uninformed consumer which gave rise to the educated consumer. This shift in empowerment paved a way for the Realtors who leveraged specific marketing to stand out and build a unique business. 

Early in my career, I was told repeatedly I had to build a geo farm and fight for market share in a particular neighbourhood. I was told stories of how the legends in my area all owned a piece of the city before they became billboard faces. Sure, this worked for them, but understanding that information is even more accessible for clients today than ever before, I had a hard time resonating with this philosophy. 

Redefining the game in real estate

One thing I could agree with: those agents worked hard.  But to stand out, I realized I didn’t need to play by the same rules. True industry disruptors know that repetition only goes so far.

Take Stephen Curry, for example. In a game of basketball where slam dunks made highlight reels and the iconic Michael Jordan dunk gets imprinted into our minds, Stephen Curry impacted the game significantly by playing a different game within the game itself. Statistically speaking, few athletes have ever impacted the way a game has been played, but Curry gave rise to the three-point game while everyone else was focused on a two-point gain. 

Sure, that’s a nice basketball analogy, but how does it relate to real estate?

Moving beyond traditional marketing

Yes, traditional marketing— door knocking or cold calling—can result in a slam dunk; however, this one-dimensional effort is slowly becoming a vision of the past. 

With the introduction of AI, not only does that three-point line offer more points, but it also requires less grind and takes a much more skilled shot. 

Adapting to the entitled consumer

I built my career by recognizing the power of educational marketing, which has become essential with the rise of what marketers call the entitled consumer.

The beauty of marketing is the constant evolution of change. Everything has a season and life cycle within marketing. Once you find something that works, you have a short window before it becomes oversaturated and the game needs to shift. Sometimes that shift happens within the consumer mindset, and sometimes with a change in technology. 

With the rise of AI, clients are self-educating, meaning they often come with their own insights from Netflix shows or ChatGPT, requiring agents to build trust and navigate through various sources of information.

Whether I’m speaking at a brokerage or with clients at the kitchen table, I emphasize one mantra: “change equals opportunity.” While AI might replace certain tasks, it also opens doors to new opportunities. Yes, AI can create content and strategies, even write effective clauses—but there’s more to consider.

AI integration

Ah, but let me guess, it can’t open doors for the clients, right? It may seem unlikely, yet with advancements in tech—facial recognition, GPS tracking—it’s conceivable that agents may need to rethink their roles. 

Reflecting on your business at the close of 2024, ask yourself: Are you on track with your goals? If not, it may be time to shift your approach.

Three ways to thrive in a changing market

The game is changing, and sellers are no longer an easy win. If you want to stay relevant, here are three strategies to consider:

1. Lean into human connection: As humans, we crave human interactions. The more artificial things become, the more value a true professional becomes. 
2. Focus on your mindset: Major brands have already started leveraging AI to increase the client journey. Look at the way you run your business, now imagine yourself as the Client. Their entitlement isn’t going away, so how can you cater to your client and leverage AI and other tools to elevate their experience with you?
3. Explore different tools: Focus on you! Maintaining a positive mindset creates perseverance. If you truly believe AI will replace you, it will. If you choose to believe that you will use AI to impact and increase your business so that it flourishes, it will. 

Embracing change can give you a competitive edge 

The game is changing and the best defence is a solid offence. You have the power now to redefine your role and recalibrate your business. Get ahead, embrace the tools available and position yourself as the go-to Realtor in the evolving real estate landscape.