Ginger Wilcox is a third-generation real estate professional. She is Head of Training at real estate search portal
Trulia, as well as a founding partner of
SMMI, the Social Media Marketing Institute. Wilcox has developed training programs to educate real estate practitioners how to engage effectively with the “new” consumer and to incorporate technology and social media tools into their existing marketing and prospecting strategies.
She also co-authored the revamped National Association of REALTORS® e-PRO® Technology Certification Program. Wilcox is a mom of two, a writer, a
speaker, a social media nut and an avid community volunteer.
As an “industry visionary,” what do you see as the major changes occurring in the real estate industry?
The real estate industry continues to evolve and become more transparent to consumers, who are demanding more access to information about the home buying and selling process, as well as about their agent. It is now much easier for consumers to identify agents who don’t produce or who don’t properly serve their clients because of the availability of agent recommendations and reviews.
Additionally, the real estate process is much more complicated than it was five years ago because of the economic downturn. Untrained agents who sailed through the real estate boom will have to enhance their knowledge in order to succeed.
Agents must educate themselves and adapt to the changing market landscape in order to provide the best possible service to their clients. In today’s market, agentshave to be educated on short sales, foreclosures and alternative financing options. They also need to embrace online and mobile and make sure they are marketing their properties and themselves where the eye balls are going.
Who are the major “players” (corporate and individuals) driving that change and what has been their impact?
Corporations aren’t really driving change – consumers are the major players drivingthe change. They are demanding transparency and access to information. Bothagents and corporations who haven’t adapted are struggling. I expect this willeventually lead to major change for brokerages in our industry, but we really aren’tseeing it yet.
I also believe that companies like Trulia and Zillow are driving change. They arebringing more transparency to consumers and providing agents with a way tomeasure their marketing ROI. Newspapers and traditional offline advertising did notprovide these opportunities.
What are the expectations of today’s real estate consumer?
Today’s consumer is looking for information – about neighborhoods, home sales and market values. We recently did a focus group with homebuyers. Trust and credibility was the number one thing homebuyers looked for in an agent. While we heard about negative experiences they had previously had with agents, homebuyers are still looking for agents they can trust to help them decipher the information and guide them through the homebuying process.
They are also look for complete information on homes ranging from HOA dues, tax information, etc. Data quality is quickly becoming a big problem for the industry as consumer expectations continue to rise.
What changes should a Brokerage or an Agent implement to ensure profitability in the future?
Educate your agents – not just on tools, but on professionalism, on service, on changes in the industry, and how to better serve their clients. Start listening to what home buyers and sellers are asking and help your agents provide it. Make sure you are soliciting feedback from buyers and sellers after the transaction and truly listen to their comments. These comments and opinions are essential to adapting your business.
Based upon your vision of the future of the real estate industry, what are you doing to help influence positive change?
My job is to create training programs for agents and brokers to help them be more successful in their businesses. Whether it’s training on technology, or how to get your short sale approved, I am passionate about creating educational programs that are practical and will help an agent better serve their clients, be more productive, and ultimately make more money by improving their skill set.
