Consumer and Realtor Demographics are Being Shaped by the – Young, Daring and Smart
The residential real estate brokerage industry, along with other industries and professions, is currently dominated by the Baby Boomers. As the Boomers make way for Generations X and Y, the world is gradually dealing with the change – real estate included.
Globalization, Immigration and Growing Demand for US Property Can Create – The Tipping Point
The minority and immigrant population segments, and hence the home buying and selling population, are not being served effectively currently, and the situation is getting worse by the day
Associations it’s Time for Serious Introspection and Action
NAR has not only held onto its title as the largest trade association in the world, but also become one of the most powerful lobbying organizations on Capitol Hill. But in spite of that, many inside and outside the industry are questioning the future of Realtor&Reg; Associations,
The Bubble, Exotic Loans, Fraud and Declining Commissions Have Created – The Hangover
The past six years or so comprised one of the hottest real estate markets on record in which the industry enjoyed tremendous growth. During this period the country experienced a buying frenzy. According to some, the frenzy will have a hangover affect for the next few years as several variables adjust and correct themselves.
Brand Recognition, National Reach, Critical Mass – The Race is On
Companies that don’t reach critical mass, the equilibrium point where growth becomes self-perpetuating, will struggle and often disappear, while those that gain that “magical” level usually become market leaders, very profitable and household brands.
Top 10 Trendsetters of 2006
This chapter recognizes 10 companies that excelled during the 12 months prior to the 2007 report, in that they pursued the passion of change and innovation. The future of the real estate industry will be a better place because of companies with their spirit, drive, commitment and leadership.
References
The complete reference section for the 2007 Swanepoel Trends Report
The Entry of Outsiders
The industry’s current fear of entry by outsiders is not new. Every time it’s rumored that some large player is going to enter the industry “the end” is predicted, and scenarios of how the paradigm will change seems to appear out of thin air. As the industry continues its consolidation over the next few years, very large outsiders may be afforded an opportunity to enter and change the rules of the real estate transaction.
The Growing Knowledge and Skills Vacuum
During the last five years the real estate industry has absorbed an influx of newly licensed agents at a rate and number that has shattered all records. Simultaneously, brokers and agents have been bombarded with new business models, the Internet, bundled services and specialization. The need for true knowledge and fundamental sales skills has never been more prevalent and essential than today.
Impact of Immigrants and Minorities
Many immigrants come with little or no knowledge of the inner workings of the American real estate transaction, nor do they understand the vast number of terms used during the process. In many cases, this is compounded by a lack of proficiency in the English language. Yet, they desire to and increasingly do buy homes. This poses multiple opportunities for real estate brokers and agents.