No, not drawing on their experience of opening a real estate company, but their legacy of being innovators and "change agents" in their own respective professions. Contrary to the suggestion that Harvard & MIT alum or too busy to be "do-it-yourself" home buyers and sellers, my experience is that they are some of the most insightful and innovative clients one could ever dream of serving. (In fact, we ALWAYS learn from them!) No doubt, I wish they needed more help. The more help they need, the more service we provide and the more money we get paid. As the interent makes more self-service tools available, it has become increasingly difficult to amass billable hours that total even one percent of the price of homes those buyers are purchasing. Candidly, makes Redfin.com look overpriced. Is that shameless self promotion, or evidence that consumers are demonstrating how little help they need these days.
I'd be glad to provide timesheets! Can any of your full service, full-fee business you match that claim, too?
Guess who said:
â€œThe next major revolution in real estate will be fee based services replacing the blanket commission pricing that has dominated the industry for so long.â€
It was the National Association of Realtors's own Former Chief Economist, John Tucillo, AND it was a decade ago. So I repeat the question, "What will take for real estate consumers, regardless of whether they have Ivy League educations or not, to organize into money-saving real estate coops?
I think that American icon of frugality Ben Franklin would say enlightened self-interest. So how should a real estate agent respond? Again, I quote Ben:
The best way to become rich is to enrich others.
I don't expect the Harvard Alumni Association (HAA) to come banging on my door just because one of their alumni will be getting a $20,000 rebate from my company tomorrow (see web link related to this point). But if other companies adopt the "community commission" described below, and a portion of rebates are donated legally, my guess is that it will not be long before some alumni fund raising office figures out there "thar's gold in them thar' real estate rebates! Before you know it, there will be RFP's (requests for proposals) inviting money-saving business models to join a preferred vendor list.
With a few connections, that coalition of service providers might find themselves with a link to HAA's home page, someday, too. If you think I'm, blowing smoke, check out what Northeastern Alumni are already doing on HomeGift, another Boston-based innovator: