Lifestyle. What does that word mean? In the context of real estate, lifestyle can significantly impact recruiting, retention and sales efforts. From the agent experience down to the consumer, every aspect of real estate hinges on lifestyle: personalities, expectations, experiences and the meaning of "home."
In a recent RISMedia webinar, "Why Creating a 'Lifestyle' Brokerage Will Help Take Your Firm Into the Future," sponsored by Constellation1, panelists discussed the subject at length, ultimately coming to the consensus that lifestyle should be a part of every discussion within the real estate space.
"What the heck is a lifestyle brokerage?" moderator Cleve Gaddis, a coach with Workman Success Systems, asked panelists.
According to panelist Kim Koraca, vice president of Marketing at Constellation1, even though lifestyles are always changing, brokers need to think about what the consumer is looking for because they are the end game.
"We have to be understanding how we are attracting consumers to our websites," said Koraca.
The notion of "lifestyle" has never been more prominent. Gaddis said that the markets were not always lifestyle-focused, but rather needs-focused. As life has become more stressful, however, particularly amid the pandemic, people are really focusing on what their lifestyle is and how they want their homes to align with that.
"If we teach our agents and brokers to have better conversations about that lifestyle element, I think we'll have a much more consumer-centric brokerage," said Gaddis.
At the office level, lifestyle becomes almost synonymous with culture. Agents want to work with a brokerage that reflects their own values and can meet their needs.
"Moving through COVID, we learned our culture really becomes our roadmap," said panelist Shawna Alt, president of First Weber, Inc.
Through strong value propositions and tangible offerings that make agents' lives easier, brokerages can retain the advantage in a competitive landscape. According to panelist Will Grewal, founder and CEO of HomeStack, technology is a big part of that these days.
"When it comes to transparency and clarity…the biggest lift is through technology," said Grewal.
"We're all a resource," said Alt, reflecting on how the help desk at her brokerage really takes that lifestyle mentality and puts it into action, through assistance with marketing, real estate legalities, IT, etc. "We build all the support around them."
However, it's not all about shiny objects. According to Grewal, focusing on lifestyle, at both the consumer and agent levels, should go deeper. It's more about cultivating meaningful relationships built on value and trust.
"Culture is often misconstrued. Culture is invisible," said Grewal.
For more tips on utilizing lifestyle within your brokerage's sales and marketing efforts, watch the full webinar below:
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