Broker Summit recap - Austin
by BJ Burrows
Recently, I attended a Broker Summit in the beautiful city of Austin, TX. So many topics were discussed that it would be impossible to share all of the experience, but I do have a recap of what I feel is information that can be applied in almost all aspects of business.
The start of the conference was hard to beat, speaker Jessie Itzler came out with enthusiasm and so much positive energy that we were all on the edge of our seats. If you ever get a chance to hear him speak, I highly encourage it. One thing he mentioned “We must create our own luck. Often times people think we are lucky when successful but we create that luck by going above the norm, making that phone call or going to that seminar to learn.” How true is that? I constantly hear that we are “lucky” because we have a successful business, or we “fell into” the business of success in some way. If it is so easy, then why doesn’t everyone do it? You have to put yourself in a position where that luck is not luck, it becomes a strategy on success.
Next we heard from the FBI about fraudulent scams affecting the Real Estate industry, from several savvy Brokers on strategic planning, and how artificial intelligence plays a part on the future of Real Estate. One discussion that really stood out to me was the “New Trends in Real Estate” presentation. Here we learned that while there are so many new technology companies forming daily, if tech is your only vehicle, are you setup to be as successful as you need to be? If you are not good at doing your job, will technology make you a better employee, agent, or contractor? So many of us are relying solely on technology and overlooking that service is almost always the most important thing we can offer our clients. Tech is a tool that should be utilized, but not to replace human interaction or to remove yourself from the situation.
The second day was packed full of useful information from speakers all over the nation. One that always stands out to me is the economic updates. The National Realtors Association Chief Economist, Lawrence Yun spoke about our current economy and how things are looking. A few bullet points include:
We are in the fastest growing economy in 15 years and could be the longest growth in history
Wage growth is outpacing home value growth
The housing market should stay strong for another year or more
Over 90% of all home sales are done with a Realtor®
With his predictions, and interest rates remaining low, we anticipate a steady market through 2020. However, eventually we will be faced with trending towards a recession and we are hopeful it is a slow trend.
At breaks I met brokers from more than 10 states, had time to discuss some of the trending things in their companies, and found that more than 80% of the conference attendees were Brokers from small companies similar in size to Burrows Tracts. I was pleased to find that the small brokerage is coming back. This has re-assured me that we are not alone in our venture to keep a small, independently owned company, that goes above and beyond to satisfy our clients and build relationships that will last a lifetime!