Get ready for the PacificWest Conference, happening October 1st and 2nd at the Vancouver Convention Centre! This event is all about bringing real estate professionals together to innovate, integrate, and get inspired. With over 60 speakers, it's a fantastic opportunity to gain the knowledge and tools you need to succeed in today's market. To give you a taste of what to expect, we're sharing some highlights from "The Critical Path" podcast featuring three of the conference's speakers: GVR CEO Jeff King, CCIM's Steve de Cruz, and AI expert Michael Thorne.
Jeff King, CEO of GVR, discussed the ongoing efforts to boost professionalism in the real estate industry. He noted that while "raising the bar" has been talked about for years, there's now a concrete action plan with about 28 different initiatives. These range from a new realtor oath, which has been well-received, to addressing unprofessional behavior and promoting common courtesy. King also highlighted the importance of professional development, especially for agents who don't deal regularly, and the need to raise entry barriers to ensure real estate is seen as a profession, not just a job. This aligns with the broader strategy of embracing technology and innovation.
Steve de Cruz, President of the CCIM West Coast Chapter, shared some important insights for residential realtors looking to understand the commercial side of the business. He stressed that commercial real estate is complex and that commercial agents aren't in a position to teach residential agents the ropes. Trying to service a client's commercial needs without the proper expertise can lead to significant liability. De Cruz emphasized the need for humility and the willingness to seek help from experienced professionals. He explained that commercial agents are often dealing with large-scale projects and don't have the time to mentor others on the fly. The CCIM designation, he shared, was instrumental in his own career, providing the foundation for growth and connecting him with other top professionals across the country.
Michael Thorne, an AI expert, offered a perspective on how artificial intelligence can benefit real estate agents. He believes there are two main groups who will lose out with AI: those who ignore it and those who use it to distance themselves from clients. Thorne advocates for using AI to handle mundane, repetitive tasks behind the scenes. This frees up agents to spend more quality time with their clients, creating a more human and valuable experience. He suggested using AI for things like streamlining paperwork late at night, rather than replacing face-to-face interactions. Thorne also pointed out the potential for AI to help agents practice their scripts and presentations, providing critical feedback to improve their communication and value proposition when they are with clients.