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Who will be disrupted in the future of the real estate?

Propy’s weekly webinar Episode #24 was with President and COO of Douglas Elliman, Scott Durkin, a self-described protégé of @BarbaraCorcoran.

Scott Durkin, along with Propy’s CEO Natalia and Propy’s tech advisor William, discuss the lessons learned under Barbara Corcoran’s tutelage, and how it has served him in his current role. Scott shares the importance of finding mentors at every stage of your career.  He also discusses how real estate agents must embrace social media and leverage technology to create connections while we adapt to working remotely.

How I fell into real estate

In 1990, I was on an appointment with an incredibly rude agent, and with my background in the hospitality industry, I wondered what could be accomplished in this business by being nice? That was my “ah-ha” moment that propelled my career.

Life lessons learned from @BarbaraCorcoran

I met Barbara at a company picnic and didn’t actually know who she was. We played volleyball together that day, and shortly after, she asked that I work exclusively with her. She told me that “when she inhaled, I would exhale,” and she didn’t know anyone like that.

Barbara came from a large family and was good at sharing and making others feel important. She felt that your home life and your business life need to mirror each other. Barbara surrounded herself with positive people and felt there was no place for drama or negativity in the workplace.

Her attitude was to find the best people, get them in the room together, and then magic happens. Don’t bring your ego into the room

“Have people around you that are smarter than you, who know things that you don’t know.”

How to find a great mentor

When you’re looking for a mentor, look to see who the most respected agents are, and watch to see who everyone goes to for advice. That is the person you will want to mentor with. Develop that relationship. Find the person you can learn the most from.

“Don’t pick someone with the same personality as you. You’re not looking for a friend – you are looking for a trusted advisor.”

Tech Disruption in real estate

During the boom, there was the fear agents would all be replaced by computers or robots. That hasn’t happened, and it won’t happen. We need technology to run our business, but no tech company can replace the expertise of an agent.

Learn from the Millennials

I’m seeing a kind of reverse mentorship happening, where older agents are having the Millennials and Gen Z’s teach them how to more effectively use social media to stay relevant.  Agents must embrace social media and learn how to connect with it.

Market Trends

Markets are really hot right now in many areas, and combined with historic low-interest rates, this is the time to buy. I don’t think the market will crash anytime soon.

Post-COVID Trends

It’s time to be comfortable in your work and home environment. Fashion is trending towards a relaxed look.

On my reading list

Awesome book by Tracy Tutor, Fear Is Just a Four-Letter Word: How to Develop the Unstoppable Confidence to Own Any Room.

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