Industry News

Client as catalyst: Consumers drive real estate change

Report focuses on consumer behavior, demands

Consumers are demanding a range of real estate products and cost options and driving the real estate industry to a new era of specialization and segmentation, according to a work group that included real estate brokers, sales associates and consultants. The work group, formed by a National Association of Realtors committee that is composed of Realtor association executives, also reported "conflicting consumer desires" – consumers seem to want both autonomy and personalized service in real estate transactions. "The Consumer: Catalyst of Change," a Realtor association report released this month that is based on the work group discussions, also noted that consumers are hungry for: "convenient online services and search tools, including full information about listed properties," "immediate responses to their online or telephone communications," "personal, friendly service from both the agent and the real estate company," "a smoothly integrated transaction process with effective sol...