In Episode 123 of the Wandering But Not Lost Podcast, cohosts, Jan O’Brien and Matt Emerson chat about Inman Connect Now.  This virtual conference was a departure from the networking of the past but was packed with great stuff and a fantastic addition to their yearly conferences.  Jan walks us through the key take-aways.


 

KEY THEMES

 

  • Covid-19 as an Accelerator – Technology & Trends
  • High Tech – Soft Touch / Humanize the Digital Experience
  • Engage meaningfully with people
  • Innovations & tech that benefit the consumer
  • Relationships are King, Content is Queen.  Authenticity is Everything!
  • Migration to the suburbs – small towns vs urban centers
  • Providing what the consumer wants and how they want it
  • Consumer Demand / Behavior Changes
    • Fast, simple, beautiful, ease of use
    • Space -home requirements
    • Efficient, Integrated – Digital transactions and closings

 

PIVOTING /ADAPTING BUSINESS in PANDEMIC

 

The Lean Startup by Eric Ries http://theleanstartup.com/

A crisis has an unintended benefit where it forces you to make a decision about
something that you should have decided a while ago!

  • Managing your expenses – making adjustments as needed while also seeing Opportunities to Invest
  • Manage Your Mindset
  • Importance of SAVINGS for your business – building up CASH RESERVES
  • Grow and Focus on PROFITABILITY
  • Know your true ROI
  • Conduct a self & operational assessment
  • Create a collaborative environment – strengthen your culture
  • Find better mentors – networking
  • Customer Experience
    • People’s concern: Health, Money, and Freedom
    • Don’t sell – listen / serve
    • Personal connections – notes, gifts
  • Leveraging time with technology used effectively (Consulting/presenting/communicating)
  • Double down on learning and using technology
  • Creating evergreen content – More VIDEO! 
  • Your competition is YOU Yesterday and anyone working harder than you TODAY

  

Home Stager HSRA https://www.hsraagent.com/

  • Flexible workspace – 1 to 2 zones in a home
  • Extra bedroom(s) or bonus space
  • De-compress zone
  • Resort-style outdoor area – bigger yards
  • Grand central kitchen

 

Gary Keller – KW

  1. Fast Tracking of Disruption

            Acceleration – what might have taken 5-10 years is now less than 2 years
            New normal doesn’t mean that it’s worse

Pre-COVID – We were all Physically Based and used Tech to Enhance
Moving to ….. Digitally-Based / Physically-Enhanced

  • (Zoom consultation to decide if you will physically show a home)
  • Physical Based Business says daily -” What’s the least we have to do in the digital space to protect my physical business?”  Barnes & Noble   Nook
  • Digital-based business says “What’s the least we have to do in the physical space to kick your digital butt”  Amazon
  1. Change in Behavior

            How people use space & technology has changed
            66 days on average to change a behavior

This is not changing back to how it was

  1. Strategic Alliances + Mergers/Acquisitions

            This will speed up due to necessity

            Perfect storm – Pandemic > economic & health crisis > moral crisis

 

Inventory shortage over last 10 years – adds to pent-up demand which helps prices increase – appreciation

 

Three Winners

  1. Tech-enabled consumer – higher quality, consumer experience
  2. Tech-enabled agents
  3. Tech-enabled brokers

  

Websites & Resources to Check out

Example of Virtual Open Houses on a Website

 

Books

 

Infinite Mindset

ADOPT AN INFINITE MINDSET

Choosing and maintaining an infinite mindset is hard. Very hard. It takes practice and a community of support. It’s a journey best traveled together. Let’s support one another as we learn to be infinite-minded leaders.

 

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