realonomics

Here’s my favorite quote from an article about how the bond trader has disappeared because the whole system of trading became transparent:

“You have a market that was completely dark for 200 years and instead of letting a little bit of transparency in there, they just opened the windows completely and all the shades and everything, and it was complete sunshine,” said Jeff Stambovski, a senior high-yield bond salesman.

Yes, real estate is finally beginning to see the light… in the ideal world, the consumer will finally see the process of their real estate transaction clearly without the machinations among the processors - the broker, the agent, the settlement services, etc. That’s just one part of my message - transparency is not limited to transactional transparency…

At Transparent Real Estate, I don’t expressly write only about real estate because finding transparency is a creative process that transcends industry. For example, there is a social sea change taking place in the form of personal transparency and “radical transparency“. Personal transparency is nothing more than the fact that the public now perceives it is acceptable to “expose” themselves, their personal data and their lives on MySpace and YouTube. Going further, “radical transparency” implies that personal transparency is inevitable and will in the future compel your children to upload their life details, academic work and resume in order to go to college or get a job. Radical transparency is evident in the new fad of Twitter, a mobile application that tracks people’s whereabouts and what they are doing, each minute if necessary.

Once you see a transparency meme or concept, you can apply it to real estate. Radical transparency is perfectly apropo for the Realtor … who understands the concept of greater exposure equating with personalized marketing.

Apologies for the promotion, here’s a list of transparency articles covering various topics for your perusal.

Unlike the authors of REALonomics, I have only a couple of years of real estate experience under my belt. REALonomics lays an informative foundation for its readers detailing how the industry evolved into its latest evolution of consumer-centricity. There must be a book in the offing, because all the articles here express unique messages and are more organized than the usual blog. I look forward to REALonomics’ evolution and am pleased to make any contribution. Thank you for providing the venue.

Pat Kitano, Transparent Real Estate

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