Great discussions are happening about RPR and the transition to enhanced data or parcel-based MLS systems.
Aggregators are looking for ways to integrate the myriad of information around a specific property record and present this to their end users; whether that is the REALTOR, consumer, service providers or a combination thereof.
An associate of mine (Thanks, Jon) pointed out that the big argument is whether real estate professionals are in the SERVICE business or the INFORMATION CONTROL business. I don't however think that the debate should really be about whether the REALTOR is in the Service business or the Data business.
The Real Estate Professional is *absolutely* in the service side of the transaction business.
In fact, the value added by a Broker/Agent is that of a trusted advisor - a more accurate description might be that of a transactional facilitation consultant. On the data or information side of the discussion, it's not the REALTOR that is at the center. That would be NAR and outside organizations. In the discussion of parcel-based MLS systems, at the end of the day the essential role of the REALTOR does not change. What may change is the access to readily avaialble information.
If you think about it, this is consistent with the 'normal' progression of the industry and technology over time. Think back to when we had the option to add the 'Agent Simple' product from REALTOR.com for example. What did this do for the REALTOR? For the Consumer? At the time there were doomsayers crying on every corner 'disintermediation is near!!', but what actually occured was a natural evolotion of the industry:
Rather than being 'put out' of the deal, the REALTOR instead found that they could more effectively measure, manage and close their pipeline of business - often increasing the number of clients and transactions they were able to handle at once.
This is what technology, information, and business tools can, and should, do for your business.
On the flip side, we also saw that with an increasingly informed consumer, the Real Estate Professional had to step up their game. Indeed the information was now available on every property, every REALTOR, every market - and there was an expectation which drove us all to get better at what we do.
Instead of debating the 'whether or nots' from a position of fear or nervousness, I encourage each of us to embrace the change for what it is - Simply stated: the next step in the ever-changing landscape of the Real Estate Business.
The good news is this: We all get to choose not only what we do, but also how we do it. Will you leverage the change to advance your business to new levels of service and reach? That is, as always, entirely up to you.
The great thing about the National Association of REALTORS is that they are working for us all regardless of those individual choices - to ensure that our position of Consumer Service and Trusted Advisor / Consulting remains strong and viable. . . both today and in the future of Real Estate. I for one am excited about the future!
A Great question came up the other day at one of our Business Networking Lunches: "Should I market my business on Facebook?"
Now, the simple answer is YES! ...But wait, there's more.

As it turns out, the owner of this particular company was concerned that his direct competition would work their 'Fan' (now 'Likes') list to take away their client base - via cold-calling and other social media prospecting activities.
Now there's one I hadn't heard before, and I was just about to discount their concern when I began to really think about it. I believe it's actually a valid concern. Imagine you are in a service industry - let's take something with a monthly subscription for example, say Insurance or Investing. If you were to create a FB page to aggregate your client base, you would be culling your entire book of business into a publicly visible page where your competition could swoop down and sic their telemarketing pros on your key revenue stream - significantly impacting renewals and/or upgrades.
Sound a bit paranoid? Perhaps. My response was that the vast majority of Real Estate professionals have embraced social media with their clientele - and that they are a largely disloyal bunch (that's us, the clients of the REALTORS). We are readily available for any other Broker / Agent to pursue, prospect, cold call, or pop-by (with a nice Apple Pie... thanks Mr. Buffini). So here's the $64 question: Do they (REALTORS) do it? - And if not, then why not?
Valid points all.
Rather than answering on my own, I present it here for the consensus. . . along with my '2 cents' as well.
Point #1: Your customers are ALWAYS available for your competition to prospect and recruit. If your industry is not contractual enough to protect your core business / revenue stream, then you are either stressed out beyond all hope already OR you have systems (read: Superior Customer Service / Loyalty Programs) in place to preserve and prolong your valuable relationships.
Point #2: If *you* don't show up there, rest assured that your competition WILL. That said, if your client is participating in Social Media (and they are) understand that they will find your competitor. Not only will they find them, they'll be all the more convinced that your competitor 'speaks their language' and is relatable to them - this is a dangerous situation for you, and potentially hazardous to your book of business.
Point #3: Think Abundance, not Scarcity. Stop focusing on the potential 'Loss' that Social Media could bring. The Social Media pie is WAY BIGGER than what you have access to without it. Even if you were to lose 10% of your client base, it is my belief that you would stand to gain another 20-30% of business over the next few quarters by 'showing up' where your clients, prospects, and referrals live - and that's Social Media.
Point #4: Check your referral volume. The #1 reason for engaging in Social Media is to leverage Referrals from existing 'Fans' - - your 'Key Influencers, your 'Raving Fans', your 'Happy Customers' can share, recommend, forward, suggest, and REFER you business unlike anywhere else.
Remember friends - we don't 'own' the customer. We are just 'stewards' with the wonderful opportunity to serve them, for as long as we bring superior value to them in the marketplace. Engage and Appreciate. Social Media is one of the very Best ways to Stay in Touch to Stay in Business.
Embrace the Change - Stay in Touch!
-Tim!
Tim Mancuso is a musician, public speaker and the former VP Sales & Marketing for Social Media startup ViewMyLife. He is focused on training and coaching business owners and entrepreneurs on leveraging traditional and new media to Stay in Touch with their clients, prospects, and key influencers. Follow On Twitter @TimMancuso or connect on Linkedin.com and Facebook.com

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