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Strategic Issues

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Cindy Butts. Pat Bybee. David Charron. Catherine Cloy. Jim Fabris. Steve Francks. Bob Golden ... The real estate industry is moving toward specialization. ... – PowerPoint PPT presentation

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Title: Strategic Issues


1
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2
Strategic Issues
  • Association Executives Committee
  • National Association of REALTORS

3
Strategic Issues Work Group
  • Walt Baczkowski
  • Cindy Butts
  • Pat Bybee
  • David Charron
  • Catherine Cloy
  • Jim Fabris
  • Steve Francks
  • Bob Golden
  • Keith Holm
  • Tim Kent
  • Chris Kyler
  • Bill Malkasian
  • Bill Martin
  • Diane Ruggiero
  • Dan Russell
  • Joel Singer
  • Facilitator Jerry Matthews

4
The Consumer Catalyst of Change
  • Our industry is being restructured by the
    consumer

5
Executive Summary
  • The real estate industry is moving toward
    specialization.
  • Consumer adoption of new technologies is driving
    the pace of industry change.
  • New online models could create a revolution.
  • More online business models will be developed.
  • More bricks and mortar companies may enter the
    industry.

6
Consumer TrendsAutonomy vs. Service
  • Consumers want a range of choices. They want to
    pick what they want and dont want.

7
Consumer TrendsAutonomy vs. Service
  • Conflicting consumer desires.
  • Desire for control.
  • Growth of the Internet.
  • Continued demand for full service.
  • An integrated transaction process.

8
Consumer TrendsAutonomy vs. Service
  • More requests for one-stop services.
  • A new generation of buyers.
  • Remote employment.
  • A more diverse society.
  • A smarter consumer.

9
Market TrendsA Return to Stability
10
Market TrendsA Return to Stability
  • Increasing consolidation.
  • Declining revenues.
  • Improved efficiency.
  • Greater financial pressure on homeowners.

11
Technology TrendsEmpowering all the Players
  • Consumers use better technology to view 20
    books than we do for a 750,000 home.

12
Technology TrendsEmpowering all the Players
  • More online tools.
  • Consumer feedback systems.
  • Accelerated response times.
  • Presence applications.

13
Technology TrendsEmpowering all the Players
  • Surveillance tools.
  • MLS consolidation.
  • Data security.
  • Consumer access to MLS data.

14
Brokerage ResponseGrowing Segmentation
  • How do we create new models that effectively
    respond to the new world?

15
Brokerage ResponseGrowing Segmentation
  • Multiple service options within the same company.
  • Educating consumers about brokerage services.
  • Empowering consumers for greater efficiency.
  • Reducing demands on agents time.

16
Brokerage ResponseGrowing Segmentation
  • Managing Internet leads.
  • Growth in referral fees.
  • Tracking referrals.
  • Succession planning.
  • A focus on younger agents.
  • Greater need for training.

17
Agent ResponseStanding out from the Crowd
  • Everyone but the agent is a third party to the
    transaction, trying to make money from your
    listings.

18
Agent ResponseStanding out from the Crowd
  • Immediate responsiveness.
  • A team of specialists.
  • Internet lead tools.
  • Relationship management applications.

19
Agent ResponseStanding out from the Crowd
  • Evolving relationship with the Broker
  • A desire for belonging.
  • Looking beyond the brokers toolkit.
  • Preparing for more litigation.

20
Who will define our future?
  • We need to define ourselves or we will be
    defined by outside forces.

21
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