I was fortunate to have a chance to speak with the mogul in our real estate industry, Barbara Corcoran. I asked her a question about the future of real estate brokerage. Below is the response she shared with me on the stage and i want to share it with you. Do you agree or disagree with Barbara?
Thanks to my wife. we were able to capture this moment on the video as well!
[….laughing in the room about previous question]
Me coming in to the stage: similar questions
Me: I read your book two times. Thank you
Barbara: You’re welcome. Did you pay for it?
Me: Yes( holding the books up). I have a question for you
Me: with more and more real estate brokerage leverage technology to reduce massive overhead cost and focus more on the agent. Do you see traditional Brick and Mortar Brokerage going away in the future?
Barbara: Oh, it has been going away for a long time. Brick and mortar has been going away because of technology, because of efficiency. It’s used to be that I am going to real estate office 10 years ago after I sold my business. I have many friends in the business, and the desk particularly on a Monday, start of the work week was 75%, 80% occupied – It’s like dead valley now. So of course it’s a settle for hay, the one that will cripple you when things go bad. So the less the overhead, the more rely on technology. The better for the owner, because he will make more money that way. So of course it has been going away for long time.
That answer I gave you I think is a little better but not much better than my last answer [….] hahaha
Me: That was good enough. Thank you so much
Barbara: You are so welcome
In the picture: If you read Shark Tales You will know that Barbara got rejected for her position at the Shark Tank originally and she have to fight hard for this. This is the letter that she wrote to Mark to show him that quitting is not an option. She shared the letter with us during the conference
She consider the rejection is a lucky charm
What about you?