Jun 01, 2022
I recently attended the T3 Summit in San Antonio, Texas (great city!!) and usually I would recount my journey from the beginning, but this time I’m going to start with the end of my experience. On the drive to the airport, I noticed something subtle, yet so powerful as a visitor to the state of Texas. On the edges of concrete overpasses and barriers, I noticed emblems of the state. Sometimes it was a star relief, sometimes it was an embossed image of the map outline of the state. Such simple imagery, but remarkably powerful branding, which sets a tone of pride which I’ve never seen before.
Now, let's move back to the conference. For a few years now, I’ve been very privileged to attend the T3 Summit, a C-suite conference for the real estate industry. It occurs at very thoughtful venues all over the US and attracts many of the people who shape our industry. This year's conference had a record ‘16’ CEOs within the real estate industry. It is an event that sets a tone for me, helping me assemble and execute a vision for our group of companies.
The closing speaker was Thomas Gruber….who? Gruber is the co-creator of Speech Interpretation and Recognition Interface. Are you still perplexed? Well, the interface is used by 500 million people! 2020 statistics show that it's used 25 billion times a month. It was created in 2007 and cost the original investors around $24 million.
Gruber, an AI (Artificial Intelligence) thought leader, framed his discussion around 4 pillars, which from now on will shape my innovation and business decisions going forward. And maybe, just maybe, will influence what tools and services you provide your buyers and sellers.
#1. Does it address a genuine human need? Big topic for sure, and thought provoking nonetheless. Many times we think, 'I wish there was an app for that', or we notice a bottleneck of some sort and we want to create a fix for it. Or sometimes, we create something that really isn’t an issue but we try to make something to improve it anyway. None of these are addressing a human need. Maybe they are a way to make us feel a little more comfortable or maybe they make our lives a little easier, but they do not satisfy a human need. Being able to measure results is probably the number one most significant thing we can do for ourselves and it's a way to manage our Clients' expectations.
#2. Have a clear vision. Don’t just do something because everyone else is doing it. Is what you are doing a benefit to you or your Client? Videos to market homes are somewhat clever, with fast forwarding and slow motion video through a property, but once you see them 5 times, they wear thin. Think in terms of helping the consumer, both buyer and seller. Every home and neighborhood is like a snowflake. Find those unique attributes - a great man cave, access to the a great natural trail etc., and make a 60 second commercial about the property to draw the consumer in.
#3. Understand the technical ecosystem. What does it take to get a prospect’s attention and satisfy your seller’s vision of clever marketing? Research what is new and innovative in the video and photographic world, and push your suppliers. Make sure the tools that you are using have built-in analytics so that you can measure results. Think big but remember to think small screen - whatever you are displaying digitally should shine on your phone!!!
#4. Navigating the changing seas. It’s all about timing. Watch what consumers are engaging in now, and envision where search, viewings and engagement will be in the future.