Industry News

Change in real estate: full speed ahead

How industry meets new business models, new market, new consumers

NEW YORK -- The real estate industry is at a crossroads of change. All the latest home sales forecasts point to steady change in market conditions; a new generation of consumers are entering the market; and with each day a new real estate technology, Web site or business is born. Many well-versed industry veterans see the changes taking place as an opportunity to create a more efficient and innovative business. "Every generation has its own values and preferences," John Ansbach, vice president of RECON Intelligence Services, told a crowd at RISMedia's Real Estate Leadership Conference in New York on Wednesday. Real estate brokers need to understand generational differences when dealing with consumers today because it will dictate how they want to be treated, he said. For instance, baby boomers value dedication and hard work, while Generation Xers value independence and Generation Y values praise, he said. The diversity of real estate consumers creates challenges for brokers, but Ansbac...