2020 Swanepoel Trends Report

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The highly anticipated, Stefan Swanepoel 2020 Trends Report was recently released and he gets into the 10 trends that will shape and affect 2020. Swanepoel says in the preface that last year’s theme was, “Change does not move in a straight line.” For 2020, the theme is “Transformation has arrived, disruption surrounds us, the time for bold clear actions is now.” In the foreword of this report, they discuss how 50% of the time, the response for the real estate industry is that customer service can fall flat. Consumers no longer have the patience for subpar service. On this week’s partner call, we dove deep to understand the lack of service. In the words of David Bowie, “Tomorrow belongs to those who can hear it coming.” –Davie Bowie

2020 Industry Trends: 

  • Class action antitrust lawsuit – This has the potential to change our industry; what listings pay, what buyers’ pay agents, etc. This is up for debate and every person in the industry needs to be paying attention to this.

  • Data security – The most overlooked brokerage threat. Fraud (wire fraud, etc) is happening all around us and is an issue that we have to be on top of.

  • Redefining the real estate transaction – A lot more is being done. It is now expected to go BEYOND the transaction. Currently, the transaction sales cycle is 10 years (between sales) so basically you need to stay in touch with your clients for a very long time.

  • MLS – The MLS is in jeopardy. There has been talk about how many MLS’s we have and data issues occurring. 

  • Financial viability of traditional brokerage – iBuyer and other non-traditional brokerages

  • Keller Williams – Confronting the innovator’s dilemma; Gary Keller has one of the most concise visions in the industry. From the technology being created to the AI being adapted, Keller Williams is at the forefront of this.

  • Zillow – The data collection and future of Zillow.

  • Venture capital funds – Discussion of Compass Real Estate and other like-companies, plus the dangers of using venture capital when running a business.

  • iBuyers– The cost of convenience. The industry has spoken and they are saying, “We want convenience!” People are willing to pay 12-13%  more just for convenience. It is a conversation that we need to have with our clients. We have to deliver certainty, equity preservation, and convenience.