VREP #469 | Real Estate's Napster Moment Is Here with Trevor Koot and Jeff King

May 23, 2025

In this insightful discussion, Trevor Koot, CEO of the BC Real Estate Association, and Jeff King, CEO of Greater Vancouver Realtors, tackle the seismic shifts in real estate akin to the Napster disruption in music. They emphasize the role of AI and technology in reshaping market transparency and consumer expectations. The duo discusses the challenges facing realtors, the importance of branding, and the necessity for innovation amidst economic uncertainty. With a balance of humor and expertise, they outline how agents can thrive in this evolving landscape.

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INSIGHT

Real Estate's Current Major Challenges

Real estate faces major challenges including lawsuits, technology disruption, and economic uncertainty.
Canada risks a prolonged economic malaise impacting the housing market and realtor business.

INSIGHT

Realtors as Business Owners

Realtors' value proposition must evolve as consumers gain access to more information.
Realtors need to view themselves as business owners, innovating rather than merely adapting to market changes.

INSIGHT

Coordinated Adaptation is Critical

Real estate industry disruption will occur both granularly and radically via technology and new entrants.
Coordinated efforts among real estate bodies are key to adapting without fragmenting the market.

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