Wednesday, April 3, 2013

Your Industry's Achilles' Heel


We've been at it for a couple of years now, and with recent developments, we've had to relocate and essentially start over. Not to fear though, we're doing it the right way and it'll be bigger and better than it ever was before. I've been looking at some different industries that I've been a part of in the past and looking at some different Achilles' Heel they might have. I'll give a few examples of what I'm talking about for further clarification:

  • VSP - In the medical world, as much as doctors hate the fact that insurance companies only reimburse a certain amount of what they charge, they're a necessary evil. Vision Service Plan is the major insurance company among Optometrists. They're a very good company to work for and great as far as customer service is concerned. When I was working for an Optometrist, I would estimate that 75% of all our patients were under the VSP umbrella. That being said, whatever VSP wanted, VSP got. I would hate to think of what would happen to your local Eye Doctor if VSP ever went belly-up.
  • MLS - No not Major League Soccer, though I think there's a post there somewhere, but the Multiple Listing Service. The average agent sells between 5-6 homes per year. I say average, because that takes into account the full timers doing about 20 deals per year and the part timers closing 2-3. Any Realtor will tell you that they provide a great service through blah, blah, blah... Nobody cares. I'm an Agent, Broker in fact, but the only thing that separates me from finding a house for sale and selling it for that matter is the MLS. Any website that says they have the most accurate, up to date listings are either lying or ignorant. From being in the industry day in and day out your local MLS is going to be the most accurate and up to date and the only people that have access to it are "Realtors". Now, if the MLS were to somehow make their information available, or someone were to figure out a way to do that, Realtors would be toast. All people need (in California at least) is an escrow company to sell their home. I know my fellow Agents would hate to hear that but nobody reads this blog anyway so I'm not too worried about any backlash. 
There are tons of examples I could give; NBA, cell phones, etc. The point is whatever industry you're in, whatever provides your paycheck, you gotta make sure you have a backup plan. I sell real estate, but I do other things too for the times when it's slow and just in case something happens to the industry. It's a seller's market right now and those that touted themselves as "buyer's agents" are hurting! They can't get any offers approved. On the flip side, those that market themselves as listing agents are living it up, but when the market turns (like it always does) what are those agents going to do that have marketed themselves as "listing agents only"? 

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