FUTURE OF REAL ESTATE
10 Fascinating Takeaways on the future with
Peter Diamandis
T
o hear Dr . Peter Diamandis talk is to get a glimpse into a world of infinite possibilities . It ’ s a mind-expanding experience that is part George Jetson and part Stephen
Hawking .
So I felt very fortunate when he agreed to appear on the # TomFerryShow . When watching the video above , I encourage you to put down your guard and open your mind .
This isn ’ t an episode about tactics that will help you sell three more houses this year . It ’ s an episode about how to prepare yourself for a changing world and how to adopt the right mindset to thrive in an industry destined for massive transformation over the next 10 , 20 or 30 years . Here in the blog , I ’ ve pinpointed my top 10 fascinating takeaways from this interview . Let ’ s get started …
1 : You Can Ask the World
“ Every one of us is more empowered than ever before to solve our problems .” We have demonetized , dematerialized and democratized information . If you ’ re feeling stuck , you can ask the world at the push of a button . Your problems are rarely unique to you . Take the time to ask , and you will find the answers .
2 : Change is Constant
“ Every industry is always changing all the time . If you ’ re not changing with it … if you ’ re not trying to reinvent yourself , then you ’ re moving backwards .” The real estate world as we know it is due for dramatic change . It ’ s coming in the next 10 , 20 or 30 years . Are you going to resist it , or will you be leading the evolution ? Your answer will dictate your continued existence in the industry .
3 : Peter ’ s Vision for the Future of Real Estate
Peter predicts that AI will play a prominent role in the future of real estate – both as the agent ’ s best tool and the buyer ’ s best tool . He envisions a future where showings aren ’ t limited by time of day , but instead involve putting on Virtual Reality goggles and viewing a home , complete with all of the prospective buyer ’ s furniture in place … anytime of day or night from anywhere in the world .
4 : Will Real Estate Agents Become Obsolete ?
“ You ’ re not gone for a while . But let ’ s be clear … eventually every job will change .” Technology is going to radically alter how jobs are done in the future . That change is coming to real estate , too , but Peter added , “ At the end of the day , personal human-to-human relationships are still critically important .”
5 : How Tech Will Impact Real Estate
What do self-driving cars have to do with real estate ? Potentially everything , Peter says . He currently resides in Santa Monica because he hates driving and wants to live close to his office . But if he was willing to commute an hour to work , he
could get two or three times the home for the same money . When autonomous cars become the norm , everything changes . People can be productive during their commutes , opening up all new geographic areas and shifting existing norms of real estate . Add flying cars to the mix , and the possibilities are endless .
6 : Don ’ t Limit Your Horizons
“ Today small teams can do what only the largest governments and corporations could do in the past .” Access to advancing tech makes virtually anything possible by anyone with an idea and the passion to pursue it .
7 : Follow ANA ’ s Lead … Not Blockbuster or Kodak
“ You can ’ t just sit back and let [ change ] happen to you , but instead embrace it , be the change and take advantage of it .” The Japanese airline ANA has recognized the world is changing and is actively involved in trying to discover what will disrupt its future . They ’ re asking themselves how they can embrace that change , how they can inspire it and how they can use it . ( Conversely , Blockbuster and Kodak refused to adjust with evolving technology , and we know how that worked out for them .)
8 : Don ’ t Take Tech for Granted
“ Oh my God , that ’ s crazy . That will never happen ! And then it happens , and we take it for granted . That ’ s just the way we ’ re wired . It ’ s crazy .” Things you never imagined possible will soon become the norm . Don ’ t take them for granted . Be prepared and take advantage of them !
9 : Mindset Matters
“ Your mindset is your most important asset .” How you view the world – whether you ’ re optimistic , pessimistic , fearful , bold , etc . – dictates EVERYTHING ! Growth is always fueled by having a positive outlook and abundance mentality .
10 : Education is Key
“ How do you keep yourself abreast of what the technologies are ? If nothing else , so that when they become available , you ’ re one of the first agents to say , ‘ Yeah , I want to experiment with that .’” Are you looking into the future enough or are you totally preoccupied by the present ? I know you ’ re busy every day , but it ’ s essential to develop your vision for where the industry is headed and how you can use tech to put yourself ahead of the curve .
Source : Tomferry . com
38 SEPTEMBER / OCTOBER 2018 SA Real Estate Investor Magazine