CAN STARBUCKS SAVE REAL ESTATE?

Posted at 9:00 AM, Mar. 14, 2009

Have you read any of the articles, blogs or thinly disguised ads that tout the emerging trend of “virtual agents?”

Seems your office is no longer necessary, since we have Blackberry phones, laptops, and online file management. One can execute an entire contract with nary a sheet of paper, via electronic signatures. According to the pundits, gone are the brick and mortar buildings that once housed Solitaire playing agents. Gone too, are those “profit-sucking” receptionists who answer the main office line, only to transfer the client to voice mail. Floor time? Um…isn’t that like, uh—Pine Sol and a mop?

Now that the world is so engaged in technology, agents can simply direct their clients to Realtor.com or even their own web site. There you will find virtual tours and sometimes a video of the property. Why bother to mess with a drive to the house and then waste a fine sunny day, while you check out cabinets and room sizes? Should you still have questions, you can text a virtual assistant and she will e-mail a link to more information. After all, don’t we buy computers, books and shampoo on the Internet?

Okay, there may be a few crazy people left who prefer live contact. No problem, say the proponents of this movement. Heck, if you need to meet clients, there are plenty of Starbuck coffee shops around.

What?

I’m sorry, I just can’t let that one go. Meet clients at Starbucks? Is that  the best we can come up with?

Let’s say Joe and Mary Buyer want to purchase their first home, and let’s also assume they are one of those “rare” folks who actually want to make eye contact during this single biggest purchase of their lives. “Let’s meet at Starbucks,” you say.

“Good golly, really?” asks Joe excitedly. “Can I get a double tall skinny Latte and one of those frosted scones? I’m so jazzed that I can discuss my personal finance information with you, while sitting on the couch near the entrance door. Oh, can we go to the west side Starbucks? They have a fireplace, and the goatee wearing poetry readers like to gather there. I’d like to provide them inspiration for the Tuesday night readings. And did I mention Mary really loves to huddle around a tiny table, so we can preview the MLS listings on your Blackberry Storm? Oh, Little Martha and Joe Jr. prefer whipped cream on their hot chocolate.”

As a broker and an owner, I concede that we cannot continue this impossible brick and mortar business model. Much, if not most of our business can be conducted away from the brokerage office. Unless you work at Starbucks though, please stop insulting us with that option.