Comments on: Bernanke…He’s Only Human http://realonomics.net/2007/08/bernankehes-only-human/ real estate business models in the consumer-centric era Wed, 04 Apr 2012 15:25:12 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: REALonomics http://realonomics.net/2007/08/bernankehes-only-human/comment-page-1/#comment-1974 REALonomics Sun, 26 Aug 2007 08:38:10 +0000 http://realonomics.net/2007/08/bernankehes-only-human/#comment-1974 REALonomics did not address the need for proactive action with respect to the recovery, i.e., what the real estate industry should be doing to heal itself. We are one of the few advocates of a deliberate reduction in our sales force, specifically, a proactive set of standards set by the industry that will reduce the Realtor® count by a minimum of 25% while raising the professional standard for all licensees. As an industry we have a traditional bias toward inaction and often assume a posture that causes us to "hunker in the bunker" waiting for a new market. No other business industry takes this position. Look at the proactive measures being taken within the mortgage industry. REALonomics is predicting approximately 50,000 job loses in that sector by the end of 2008 and a revival in how they do business. Good coming from bad! The RE side of the equation should reduce its work force by eliminating sub-par independent contractors as a matter of hard-core industry policy. This is called "controlling the labor pool" and it works for bottom line ROI and for maintenance of professional standards. What a great opportunity for us to reinvent ourselves! The question is, can we or, even, do we want to? REALonomics did not address the need for proactive action with respect to the recovery, i.e., what the real estate industry should be doing to heal itself.

We are one of the few advocates of a deliberate reduction in our sales force, specifically, a proactive set of standards set by the industry that will reduce the Realtor® count by a minimum of 25% while raising the professional standard for all licensees.

As an industry we have a traditional bias toward inaction and often assume a posture that causes us to “hunker in the bunker” waiting for a new market.

No other business industry takes this position. Look at the proactive measures being taken within the mortgage industry. REALonomics is predicting approximately 50,000 job loses in that sector by the end of 2008 and a revival in how they do business. Good coming from bad!

The RE side of the equation should reduce its work force by eliminating sub-par independent contractors as a matter of hard-core industry policy. This is called “controlling the labor pool” and it works for bottom line ROI and for maintenance of professional standards.

What a great opportunity for us to reinvent ourselves! The question is, can we or, even, do we want to?

]]> By: Apella http://realonomics.net/2007/08/bernankehes-only-human/comment-page-1/#comment-1964 Apella Sun, 26 Aug 2007 00:21:02 +0000 http://realonomics.net/2007/08/bernankehes-only-human/#comment-1964 I think you have a good feel for what is to come for the market track. I also think that you will see a similar reduction in the service markets. Labor related in the real estate business (service companys, builder labor, and supply) and the trickle down due to the 10% that these make up in the U.S. labor market. I think you have a good feel for what is to come for the market track.

I also think that you will see a similar reduction in the service markets. Labor related in the real estate business (service companys, builder labor, and supply) and the trickle down due to the 10% that these make up in the U.S. labor market.

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