In September of 1908, Henry Ford released the first production Model-T automobile. Previous to the release of this car, horse-drawn carriage was the preferred mode of transportation. From 1908 into the late 1920’s, carriage and buggy companies worked furiously to improve their product in order to compete with the expanding automobile industry. Luxury seating and amenities were added, aerodynamics were improved and even a better buggy whip (used to whip the horses) was created. Despite their best efforts, the majority of buggy and carriage companies found themselves out of business by the early 1930’s.
The carriage industry’s failure wasn’t due to lack of effort or ingenuity in the field but to its failure to adapt. Ford had created a superior and more efficient mode of transportation, and while Chrysler and GM recognized the changing tide and progressed, Buggy inc. fought tooth and nail to reverse the natural progression by improving upon an inferior system.
My father told me this story a long time ago as a lesson in business. “No matter what industry you find yourself in”, he said, “always be aware of the writing on the wall, and ALAWYS be ready to adapt on a moment’s notice”.
Today, I find myself in the Real Estate Industry, and am shocked by its pending failure to adapt to the changing technological landscape.
The Internet has created a medium by which people (buyers and sellers, that is) can freely and openly communicate. People are using this ability to communicate buying and selling needs on an individual basis. They no longer need agents every step of the way. This is the natural progression of our industry, whether we like it or not; and while our various associations spend our dues on high priced lobbyists hell-bent on protecting our monopolistic control of MLS systems, in effect creating only a “better buggy whip”, outside companies are spending billions paving the new road by which people will buy and sell homes. I refuse to be an agent drawing the outdated carriage on an unfamiliar road.
I, for one, am adapting. I am a proud agent who believes in the service we provide, but can read the writing on the wall very clearly. In preparation, I have created my own website (www.buyerhunt.com); it’s new, fresh and totally untested. Perfect!
I am sure that some of you reading this will accuse me of treason. To those critics: I wish you the best in your struggle against imminent change
Darwin wrote that in the long run, only those who can adapt and remain “fit” in a changing landscape survive. I think it’s about time that we stop trying to improve upon an inferior system, and start adapting. If not, I fear we might find ourselves doomed to the fate of our beloved buggy whip.
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