OpinionIndustry News

New markets demand new thinking

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

There's no longer any question that many housing and mortgage markets throughout the country have entered a prolonged slump. And a slump is admittedly a difficult market in which to achieve success. Yet even the worst markets have survivors, some of whom prosper year after year regardless of real estate's ups and downs. What makes the difference between those who prosper and those who are forced against their own inclination to exit the business? Here are some questions that may help you figure out how to manage your business for long-term success: Analysis. How well do you know your market? Are you up-to-date on new housing developments? Do you know which segments of the market are strong and which are stagnant? Do you know which types of houses are in demand? Are you aware of price trends and do you truly know how much homes in your market are worth? Have you identified market opportunities and threats? Do you know your competitors and have you honestly assessed how their strengths ...