In virtually every area of the economy, competition puts downward pressure on prices, technology makes labor more efficient, and the accumulation of capital builds wealth. Today’s real estate markets are no different. When there is competition for construction materials, builders, inspectors, designers, and, yes, real estate agents, there is downward pressure on the price of a home. This is a good thing, but it may not seem that way to a real estate agent. If an agent’s income is tied to the price of a home, then lower prices may seem like less income. Similarly, when there is a relatively high number of real estate agents in a given market, the market may “feel” saturated. That competition may feel like a burden for agents, but it is ultimately good for the consumer.
Fortunately, relatively lower home prices AND competition among agents can be good for agents, too. It all depends on the agents’ business models. A business model with efficient systems, targeted marketing, and a steady pipeline are key to achieving production goals. Even if competition is fierce and home prices are stagnant (or even in decline), real estate agents have the opportunity to differentiate themselves amongst their colleagues. Further, they are able to drive their overhead costs down by becoming more efficient, and technology can make agents very efficient!
That’s the idea behind Township Ten Technologies. We create products specifically designed to make a real estate agent more efficient; to save her time; to cut down on her stress; to make her more cost effective to her clients. This strategy means a better experience for the home buyer and the home seller without having agent burnout. We believe in a world that is advancing quickly technologically, agents AND consumers can both come out ahead!
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