Charles El-Moussa, president of Coldwell Banker Realty in Texas, recently took part in a Q&A interview with the Dallas Business Journal (DBJ) to offer his insight on the region’s real estate market and the changes in the industry’s landscape. Check out excerpts from his interview below:
DBJ: What’s changing in the residential real estate business?
El-Moussa: We’re in the era of disruptors, discounters, interlopers and technology companies trying to get in our business. Our focus over the last 12 months has been to launch a lot of product. Most of our product has been focused on how to get the agent and the consumer to get the greatest value for their home and how do we deliver a value for the customer that supersedes any other customer out there.
DBJ: How do you fight against the disruptors?
El-Moussa: There’s always going to be disruption in the industry. We’ve been around for over 100 years. We were here yesterday, we’re here today and we’re going to be here tomorrow.
Disruption happens a lot faster now because of technology. What took people 10 years to develop is now taking five years or two or three years to develop. But we’re a big company, and we have a vast technology team that’s constantly looking at the new and the innovative and what the market needs. So when I look at these guys that are focusing on one or two niches, we focus on multiple niches.
I can go into the array of products that we’ve launched that are very specific about how we help agents work faster and work smarter, not harder, and also deliver that value to the customer that’s different.