Mind on the market

LAS VEGAS -- Day one of the National Association of Realtors conference and expo in Las Vegas and here's the news so far:

Buyers are in, very in, and many Realtors are hungry for an understanding of how to work with them, and how to market to them. Remember that many agents today have never had to court buyers the way they need courting in a down market.

Marketing departments are changing: We heard that several big brands have shaken up their marketing departments in recent weeks to get a fresh take on targeting consumers in today's market.

The media did it. NAR put together a comical "CSI"-esque crime drama about the down market, which pitted regulators and the media, among others, as the bad guys. The message was: if only the media would stop writing about the down market, consumers wouldn't be as freaked out. If only the Fed had reacted better by keeping overnight rates low. Sounds a lot like Robert Toll's speech last week on preliminary quarterly earnings at home building company Toll Brothers.

Vegas is changing: Many conference attendees heard the implosion of the Frontier casino at 2:30 a.m. today as the building was blown up to make way for new development. The explosion served as metaphor for starting new, something Realtors may be struggling with as they face uncertain times in a soggy market as well as new opportunities with new technology and online ventures. Things might get worse before they get better.

Bloggers get a warm welcome: It was just a few years ago that bloggers weren't recognized as a serious group at NAR's conference. We remember in San Francisco in 2005 when one blogger was asked to leave the NAR press room for lack of appropriate press credentials. Bloggers still aren't in the official working press room, but this year they do have their own Bloggers Lounge, and many met up last night to celebrate a meeting of the minds at BloggerCon.

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