I just
returned from a week away attending the National Association of REALTORS® Conference in San Francisco. This is an
annual event that draws thousands of REALTORS® from not only the U.S. but also
from around the world. This year there
were approximately 1,400 from other countries with several hundred of those
from Canada. Both the Canadian Real Estate Association and Royal LePAGE Canada held evening events for those of us
in attendance.
The real estate profession has undergone
dramatic changes and it continues to be transformed by consumer’s expectations,
ever changing market conditions, new business models affecting the traditional
MLS® system and perhaps most
significantly by technology. All of
these factors are continuing to impact the role of real estate professionals. Real estate
is no different than any other industry or profession. While the traditional 80/20 rule has applied
with 20% of the REALTORS® doing 80% of the business, it’s now more like 90/10 and
with further consolidation of the business sure to happen, 95/5 is ultimately
how the distribution of listings and sales will invariably end up.
In order to effectively meets the changing
demands of clients, I view attending conferences such as this as being imperative
to both understanding the market changes that are happening as well as learning
the necessary skills and initiatives that you need to implement in order to be of
relevant importance. In the Home Cents Help Tips section of my website I have a piece titled "Education Keeps REALTOR® Standards High. Over the three days
I attended 11 different seminars and while it is a somewhat intense learning
environment it is also very invigorating and stimulating. Many of this year’s sessions dealt with the increasing
importance that social media is having on our business. This blog is in fact the result of my
attending the NAR Conference back in 2007.
Since that time I have tried to provide content that will be of some
material value to my readers whether it is a real estate related matter, community/municipal
affairs or just some odds and ends that I feel may be of interest. Recently I started a second blog pertaining
to the luxury home market titled “Southern Georgian Bay Carriage Trade Homes,”
be sure to check it out.
The keynote speaker at this year’s conference
was Hilary Clinton. Mrs. Clinton shared
with us her and husband Bill’s experience with real estate from their first
home to occupying the Governor’s mansion in Arkansas to the White House. It was interesting to learn that since
leaving the White House, the Clinton’s real estate purchases have all been made
conditional on approval by the Secret Service as they are the ones tasked with
guarding and defending the home of the former President and his family forever.
As I have mentioned in prior posts, the U.S.
does not have a nation-wide MLS® system such as what we have in Canada. It is not uncommon for one state to have severalMLS® systems and our American REALTOR® counterparts are envious of what we have
and the ease with which it allows consumers to find properties virtually anywhere
in Canada. Sometimes it’s nice to have
one up on our neighbours to the south.
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