Editor’s Note: This is a preview of Atlanta Business Chronicle’s Most Admired CEO Awards, highlighting leaders who propel the performance of their organization and strength the fabric of the Atlanta community. The event will be held Aug. 17.
Lane McCormack has been working in real estate long enough to see a few new technologies emerge as game-changers.
“I remember when the Blackberry was going to save us all,” McCormack quipped.
These days, artificial intelligence looks like the next big thing to revolutionize the real estate business. But McCormack, CEO of Ansley Real Estate Christie’s International, believes building personal relationships always has been — and will continue to be — the foundation for success.
“It’s the people,” she said. “It’s the people you surround yourself with. It’s the people you work with every day.”
Most real estate professionals will say the business has always been about people. A real estate agent considers their “sphere of influence” to be their most important asset. It’s their network of contacts that can produce referrals and transactions. The bigger the sphere, the better. The goal is to keep it growing.
Working with the best people is even more important now, McCormack said. Metro Atlanta’s housing market has been volatile in the wake of the pandemic, and more market data is publicly available. Media coverage of the market has increased, too. McCormack believes knowledgeable, seasoned agents are necessary to help potential homebuyers and sellers cut through the noise.
“I tell our agents all the time, I can Google right now ‘housing industry: what should I know’ and I can get 20 articles that are positive and 20 articles that are negative,” she said. “You don’t want a consumer calling you, telling you what the market’s doing. You want to call the consumer and tell them what the market’s doing. I think that’s where us becoming a credible resource and their consultant is really important right now.”
As AI software becomes more sophisticated, it may well play a bigger role in the industry. Already, national brokerage firm Zillow Group Inc. is rolling out AI-generated listings.
Other relatively new technologies are making an impact, too. Social media — particularly Instagram — has become a significant marketing tool.
That’s how McCormack views technological advancements: as tools. Real estate pros can use them, but they won’t replace personal connections. Those connections will continue to be the most important asset in the industry, she said.
“If you would have asked me 20 years ago, I would’ve said the internet,” McCormack said about another important business tool. “What I have learned over the years is the most incredible resource we have is our relationships.”
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