Roadmap to Recovery
By Inman News, Monday, November 24, 2008.Bookmarking Sites
Inman News has embarked on a major editorial project and we need your input.
Please take a few minutes to write a paragraph or two (no more than 400 words) on any or all of the following questions. We plan to publish your responses on Inman News with your picture and credit you for your contribution. Only answer the questions you are comfortable answering, ignore the other ones.
1. Imagine how the real estate industry will be different when we recover from the current downturn. (Pick an area such as brokerage, title, lending, technology or consumer behavior, or address the entire industry.)
2. How will the business model or business practices of the title, brokerage or lending industries change in the future?
3. Will the industry be regulated differently in the future? If so, how?
4. What must the industry do now to prepare for this new direction?
5. What technology trends will change the industry in the future?
6. What skills will the real estate agent of the future require?
7. How will real estate advertising dollars be spent in the future? How will real estate marketing be different?
8. Will sales activity in your local housing market contract or expand in 2009? Will national sales activity contract or expand?
9. What will drive the expansion or contraction?
10. Will local home prices decrease, increase or remain stable in 2009? 2010? Will national home prices fall, rise or remain flat in
2009? In 2010?
Please send your responses in a Word document, along with a high-resolution headshot of yourself, to future@inman.com. Please include your full title and how you would like to be credited. We are offering a free pass to the upcoming Real Estate Connect conference in New York City to the author of any submission that we publish in full (valid for new registrations only). The conference will be held Jan. 7-9, 2009.
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
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Submitted by Christina Freeman on November 26, 2008 - 10:07am.
What incredible questions! It seems to me that while the market, industry, trends and economy of real estate has changed, many of the industry professionals have been reluctant to adjust to the change and rather change their professions! While broad in scope, it's easy to see that every industry has changed in some form or another based on the economy and market and recently that change has involved technology's influence. I think that today, more than ever, real estate professionals need to understand the importance of marketing their services in an environment that caters to their target demographic. Our focus is luxury waterfront properties in the Daytona Beach Real Estate Market, and we're doing great! The new demographic has changed based on technology because many people depend on the internet and want their information FAST. Meaning advertising works more now than ever! ALSO our target demographic has indeed changed because of the economy. They are buying Real Estate that is either very high-end (because in this economy, high-end buyers still have money to spend) affordable long-term rentals (because they can't afford to buy) and/or luxury vacation rentals (because, well, they still have the money too! It's all about molding to the change and not running from it.