Brokerage Models, Consumerism, REALonomics, Technology in RE
RE’s 2007 Dream Resolutions
December 29, 2006 by REALonomics · 1 Comment
REALonomics believes that 2007 will emerge as perhaps the most significant year of change in the real estate industry. Disruption of traditional models is no longer a topic for isolated discussion among the fringe lunatic wing of the industry. Yes, I know, REALonomics and Companies like e-Partner, were once in that category…now, we have gained a growing audience and traction, if only because our predictions are slapping us across the chops.
With ‘07 a scant 48 hours away, REALonomics has assembled its own set of Real Estate’s 2007 Dream Resolutions.
First Dream Resolution
We resolve to actually resolve! Why not? If we don’t, others assuredly will and are. From the top floor (NAR), to the mezzanine (local associations), to our market models (owner-controlled companies) we resolve to take back the industry in favor of the consumer. We need a popular uprising, fueled by steely determination that does something, anything almost, to create meaningful and practical change
Second Dream Resolution
We resolve as an industry to write the new rules for the real estate industry ourselves, rather than assuming a passive, spectator position that relinquishes the front line battle and its command-and-control to Non-Brokers.
Third Dream Resolution
We resolve, once and for all, to engage in the deliberate, systematic and thorough overhaul of our traditional business models that cannot bring us the ROI that is commensurate with our industry’s power to shape national economic outcomes.
Fourth Dream Resolution
We hereby resolve that we will create economic models and technology tools that are truly are dramatically effective in the Consumer-Centric era. We will design and deploy frameworks in the market place that actually allow the consumer to build our companies with us.
Fifth Dream Resolution
We resolve, hereby and herein, to streamline and simplify the transaction process, once and for all, through the strategic implementation of paperless technologies that are applied to the front, middle and end of the real estate investment cycle.
Sixth Dream Resolution
We now resolve, together and if need be, separately, to minimize our dependency upon fixed, bricks-and-mortar, capital guzzling, high-maintenance, low profit, retail business models in favor or the adoption of Internet-based total market penetration models.
Seventh Dream Resolution
Finally, as owners, we resolve to adopt the Ten Commandments of the New Real Estate Economy or, portions thereof, as a compass to guide us and our organizations in the quest toward model perfect.
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Related posts:
2007: The Year of Consumer-Driven Real Estate
I foresee consolidation in the marketplace, with large, established brokerages reducing overhead while expanding their market service area through selective and remote recruiting, and via strategic acquisitions.
Smaller, independent brokerages shall remain competitive by leveraging technologies that reach consumers online while attracting agents who work from home to service markets. Brokers will offer attractive compensation packages to offset the traditional fancy non-producing office spaces once provided.
In 2007, consumers will clamor for a singular source for property information, and the global winner of this aggregation of MLS data will offer consumers direct access; thus the consumer-driven development of on-demand service providers will emerge for home sales and purchases.
In conclusion, a greater percentage of agents will go the way of the once revered travel agent, thus, brokerage owners must adapt to the current consumer trend and recruit real estate professionals to service consumer mandated markets via online methodologies or bust.