Industry News

Vendors cope with real estate downturn

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Editor's note: How bad will the real estate market get before it gets better? Inman News compiles the facts and analysis in this five-part series. (Read Part 1, "The housing market: How bad will it get?" Part 3, "Market forces, regulators threaten credit crunch"; Part 4, "Investor worries rise"; and Part 5, "Diminished role for GSEs, FHA.") The impact of a housing slowdown extends well beyond the real estate agents, brokers and others who are at the core of the sale transactions. Trade associations and multiple listing services can feel the weight of declining membership, and vendors and third-party companies may need to adjust their business focus to suit the changing market. For WolfNet Technologies, a real estate technology company based in Minneapolis, the customer service demands have increased with the slowing market. "Overall, we've had a much higher level of customer contact, especially by phone," said Joel MacIntosh, WolfNet CEO. "We've been receiving more calls than ever from...