Strategic Issues

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Strategic Issues

• Association Executives Committee
• National Association of REALTORS

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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

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The Consumer Catalyst of Change

• Our industry is being restructured by the
  consumer

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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.

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Consumer TrendsAutonomy vs. Service

• Consumers want a range of choices. They want to
  pick what they want and dont want.

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Consumer TrendsAutonomy vs. Service

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

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Consumer TrendsAutonomy vs. Service

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

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Market TrendsA Return to Stability
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Market TrendsA Return to Stability

• Increasing consolidation.
• Declining revenues.
• Improved efficiency.
• Greater financial pressure on homeowners.

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Technology TrendsEmpowering all the Players

• Consumers use better technology to view 20
  books than we do for a 750,000 home.

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Technology TrendsEmpowering all the Players

• More online tools.
• Consumer feedback systems.
• Accelerated response times.
• Presence applications.

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Technology TrendsEmpowering all the Players

• Surveillance tools.
• MLS consolidation.
• Data security.
• Consumer access to MLS data.

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Brokerage ResponseGrowing Segmentation

• How do we create new models that effectively
  respond to the new world?

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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.

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Brokerage ResponseGrowing Segmentation

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

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Agent ResponseStanding out from the Crowd

• Everyone but the agent is a third party to the
  transaction, trying to make money from your
  listings.

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Agent ResponseStanding out from the Crowd

• Immediate responsiveness.
• A team of specialists.
• Internet lead tools.
• Relationship management applications.

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Agent ResponseStanding out from the Crowd

• Evolving relationship with the Broker
• A desire for belonging.
• Looking beyond the brokers toolkit.
• Preparing for more litigation.

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Who will define our future?

• We need to define ourselves or we will be
  defined by outside forces.

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