BrokerageIndustry News

Demise of the real estate ATM machine

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

(This is Part 1 of a six-part series. Read Part 2, Part 3, Part 4, Part 5 and Part 6.) From blogging to Zillow, today's rapidly changing real estate environment continues to challenge both agents and brokers alike. What changes should you implement? Where are your advertising dollars best spent? What are the economic, demographic and digital trends that will influence your business in 2007? More importantly, what is your strategy for selecting the unique combination of innovations best suited to your personal business model? Over the next few weeks, we'll look at what's coming in 2007 as well as what to implement in your business to create a competitive advantage. Economic Trends #1: The demise of the real estate ATM machine and the high cost to consumers One of the most serious concerns for 2007 is the high percentage of debt that today's consumers are carrying. In 1950, the average consumer's debt was 18 percent of his/her annual income. In 2006, that number was 117 percen...