Allan Dalton, a near 50-year veteran of the real estate industry and former CEO of realtor.com (2002–2007), delivers an impassioned and unfiltered critique of the industry’s failure to properly communicate its value. Dalton, who was also recruited by the Boston Celtics and donated a kidney to his wife, draws on a lifetime of experience to challenge conventional wisdom.
His core argument centers on the catastrophic impact of outdated language. He argues that phrases like “past client” make you a “past agent”. He condemns the continued use of “listing presentation”—which should be a “marketing proposal”—and the term “comps” for making real estate agents look like the “confederation of dunces”. He asserts that the public believes homes sell based on “market” or “buyer” demand because agents fail to articulate that the agent’s marketing strategy and negotiation influence the price.
Recounting his time at realtor.com and the pivotal moment Zillow launched. He candidly admits he compared Zillow to a “Carney Barker” who would guess your weight on a pier. His concern was that the Zestimate commoditized the home by asserting value could be determined before the realtor’s value was inserted. He details how he resigned his position after the board resisted his innovative idea for a Real Estate Financial Planning System, believing the industry was too resistant to long-term advisory services.
The conversation concludes with his ultimate advice for agents: stop treating your work like a business (which has customers) and treat it like a professional practice (which has clients). This mental shift is necessary to establish value, influence, and relevance before a transactional need arises. He advocates for the future role of the “Certified Real Estate Consultant”.
Links mentioned in the show:
East Bay Real Estate with Allan Dalton (YouTube)
Allan’s upcoming course with Anthony Lamaccia and press release
Connect with Allan on LinkedIn and check out allandaltonconsulting.com.
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