Several years ago when I was an office manager and I did not sell real estate, a couple of my agents told me that I lost touch with the real estate industry since I had not listed or sold property for several years. I scoffed at that, my ego not letting them make any sense.
Fast forward to 2003 and the opening of my office, and I quickly realized that they were right to a large degree. Just yesterday, I read a magazine article in a prominent real estate publication written by a stuffed suit in a very large real estate company. This person babbled on and on about the virtues of customer service, while never really saying anything, never telling the reader “how to”, it was a just do it laced with lots of fancy catch phrases. I know personally that this Senior Vice Person has not listed or sold a home in 20+ years. Her company uses it’s reserves of millions, maybe billions (she didn’t generate that money, she is just a stuffed suit) to acquire other smaller firms, thus adding to their office and agent count. Then they re-brand them and share their fancy marketing materials with them.
Simply put, the leaders of this industry have mostly lost touch, and have no idea what the hell the consumer really wants, needs, expects or likes or dislikes. Most leaders at the top are completely disconnected. They would be lost for months if plopped in a real estate office and told to generate new business.