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Insight: REIBC blog > Adapt or Die

Adapt or Die

posted on 10:29 AM, February 14, 2020
Credit: g-stockstudio/iStock

Specialty brokerages, such as business brokerages, meet the needs of niche consumers, and new technologies are enabling their proliferation.

“Historically, the business and real estate brokerage industry has lagged in technology adoption and now we are seeing the industry being forced to make changes in the way business is done,” says John-Erik Grain of Business Finders Canada. “Regardless of the brokerage specialty, the clear message from the business or property consumer is that brokerages need to implement technology to remain competitive and avoid obsolescence.” But though technology is key to their success, staying current with it can be a struggle for such brokerages due to the costs associated with selecting, purchasing, and training for these technologies.

A general resistance to technology is also present, rooted in the known value of personal relationships. “Business and real estate professionals know that trust is the backbone of relationships and relationships are the backbone of the sales world,” explains Grain. One way to address the threat of digital disruptions is to stay as current as possible with technology, selecting those technologies that offer the most value to the brokerage and its clients.

Input Fall 2019.jpg
Download Fall 2019

Read more about the eight must-know technologies Grain identifies for niche brokerages in “Adapt or Die: 8 Technologies You Need to Know” in the Fall 2019 edition of Input. Download Fall 2019

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