Industry News

Bug Realty founder says ‘lose the Lexus’

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

Kevin Seney, founder and CEO of Bug Realty, built his first spec home at age 18, instantly became a real estate investor and hasn't looked back. He bills Bug Realty as a "nontraditional real estate franchise" where frills and hype are left at the curb. Seney will speak at Real Estate Connect in San Francisco, July 23-25, 2008. He answered a set of questions posed by Inman News: What do you see happening in the real estate market in 2008? The downturn will continue into 2009. A large percentage of sales will be short sales, REOs and foreclosures. Market pressure will continue to force change in the mortgage industry. Technology will speed change and facilitate more consumer-driven solutions and alternatives for buying and selling homes. Increased access to information via WiFi and cellular phone will continue to make the old model of the traditional real estate office obsolete, further leveling the playing field. (Think of the record industry and big media.) What a...