Since it is the Discovery Channel’s much-beloved Shark Week, I figured a shark-themed article might be fun.  En joy!  (It’s my first one.)

There’s a joke in Woody Allen’s Annie Hall that goes something like this: “A relationship is like a shark – it has to keep moving forward or it dies.”

Replace the word “relationship” with “business” and the statement remains true.

Consider the dawn of commerce.  At one time the cost of an orange was determined by lead weights and a balance. The time it took to complete a transaction didn’t matter because that was the only technology available.  It was the standard.  It wasn’t until 1838 that the hanging spring scale was invented to antiquate that technology.  In 1879, James Ritty invented the cash register, allowing customers to spend more time looking for that perfect orange and less time at check-out.  In 1948 came the barcode system.  Then, the electronic scale.  1958 brought us American Express.  Credit card machines went from carbon-copy sliders to magnetic strip readers, and today we buy our oranges online.

Now, imagine we go into a store and the clerk weighs our orange on a balance in 10-decagram increments, using an abacus to determine the price.  Next time we will go somewhere else.

So, how do we define moving forward?  It is the implementation of technology to streamline all aspects of business.  While it took centuries to go from scales to the internet, today’s open means of communication has accelerated the rate at which technology is developed – and it is that technology which determines the wants of a customer.  Can it make their life easier?  If so, then a customer will not only want it, they will require it – especially if they’ve already got a taste for it.  If we don’t offer that service, or employ that technology, they will go somewhere that does.  This is why moving forward is the only way to survive.

A lot of it comes down to the internet.  In the past decade the percentage of internet home-buyers has increased from 28% to 72% – and that number is climbing.  Also, what used to be a market driven by Baby Boomers is quickly becoming lead by the Millennial and Y generations, which means more young people are buying homes.  We are in a unique position to attract these buyers.

Let me explain:

Right now, many  independent real estate firms operate on an even playing field governed by somewhat archaic business practices.  So, by implementing the market-savvy practices and consolidated technologies already employed by other industries – technologies which are second-nature to young buyers – we will create a gap between our company and the competition.  We will stand out to the younger buyer.  We will be sleeker, savvier, and moving forward so fast that our company will be the one to set the standard.  When our competitors don’t offer the same brand of dedication and streamlined service, where do you think the buyer will go?  Hint: it won’t be to the guy with the abacus.

Move forward.  Be the shark.

By Jeff Payne