Real Estate Predictions, Wish List for 2011

Industry pros share insight, hopes for new year


Editor’s note: Inman News asked our audience to share their views on what’s in store for real estate in the year ahead, and also to list their wishes and resolutions. This is the first installment in a series. (How to participate.)  

Predictions: Shift happens:

1. Data usage: Associations will need to become more expert in data usage and syndication. Smart brokers and agents better get up to speed quickly on this topic, too.

2. Mobility will be critical. Most customers are totally mobile so real estate professionals better catch up! Everything from smart phones, iPads, netbooks, portable scanners, e-signatures and more need to be in their daily arsenal. To adapt a quote from R.H. Grant, "When you use tools that are smarter than you are, you prove that you are smarter than they are."

3. Realtor associations will need to continue to adapt their business model and services. As Realtors get busier or more afraid of the market, the availability of volunteer resources will continue to dwindle. Association staff will have to pick up the slack. This means changes in staff assignments or actual changes in staff. "The quality of the play cannot surpass the caliber of the cast."

4. Real estate professionals will need to find their area of expertise. They aren’t the only ones that know what’s for sale and they can no longer control the transaction, so they had better become the "hyperlocal expert" or the "lifestyle consultant" or some other expert. Somehow they need to know more about something than their customers do!

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5. Banks will need to work together with the real estate professional. If they don’t, no one will sell anything and no one will get paid! Communicate and work things out for the benefit of everyone. Don’t keep the rules secret and don’t keep changing them."

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6. The real estate market will continue to change — at an ever greater rate of speed. Real estate professionals must keep abreast of market trends and changes or they will be lost.

Wish List: Banks need to effectively work with the real estate professional to communicate and work towards an expedient sale. If they don’t, sales will continue to be slow and all parties will suffer.

Pam MacConnell
West Volusia Association of Realtors
Orange City, Fla. …CONTINUED

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