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The Future of Real Estate

I was just forwarded the PowerPoint presentation that Chrisopher Lee of CEL & Associates, INC. used during his “Get Ready For The Age Of Real Estate” presentation at PSU’s Center for Real Estate June 5th. The 84 slide presentation is interesting but most of it isn’t applicable to this forum. What did strike me as interesting both on the agent side and the consumer side was this:
1) 30% – 40% of real estate service companies that exist today will be gone by 2017.
2) The emergence of the Big 3 or Big 4 will create 3 – 4 niche opportunities for everyone else.
3) By 2017, 50% of today’s Brokers will be replaced by collaborative teams of professionals and Advisers. A new Brokerage Model will emerge.
4) The shift to a knowledge-based, client-centric and talent-focused business model will be fairly commonplace.

#1 doesn’t surprise me. I don’t know who we consider the big three or four for #2. I’d expect that at least one of them will be something that doesn’t exist today. #3 makes sense. I think we are already seeing #4.

15 Comments on “The Future of Real Estate

  1. I don’t know that it is top secret but what I don’t know is whether the person who sent it to me should have so I think I would refer you to either PSU’s Real Estate Center or CEL & Associates that produced it.

  2. Could you elaborate on #4? Knowledge-based and talent-focused as opposed to…?

  3. My feeling is that there will be a greater premium put on experience and service. I don’t think that majority buyers really interview their agents sufficiently now.

  4. I have been reading some real estate blogs for the last couple months and I have noticed people participating can be quite rude. Some are well informed some not but the rude behavior does not seem necessary.

    I do wonder, if you and any other real estate professionals that allow comments fear a negative impact on your business. Is it possible, the company you keep can be detrimental?

  5. It would be far easier to delete/censor comments and ban IP address than to keep the whole blog open but I think that would defeat the purpose. Without the dissenting view (which admittedly some have a hard time expressing respectfully) the blog wouldn’t be a discussion but would simply be my propaganda. I have asked one or two to go away but have not deleted their comments (with the exception of blatant spam) or banned anyone. If the policy is detrimental I suppose it is the price I pay for managing a foruom that is educational and interesting while earning me potential clients that read what I am saying. If readers decide that they don’t want to work with me solely from the blog, there is a good chance the feeling is mutual. It has also been the source of some really great clients.

  6. You have a good blog Charles. My vote is to keep running it the way you do.

  7. Keep the blog as is but do warn/eject posters who try to sabotage discussions by posting from different names and/or use foul language.

    When I read the comments coming from certain gloom and doom lovers here, it actually makes me more confident in PDX real estate. If that’s the best they can reason as to why PDX real estate will go down in a free fall then things are not that bad 🙂

  8. “it actually makes me more confident in PDX real estate”

    is this possible?

  9. Blog forums should be open. The internet doesn’t need another sterilized real estate blog filled with cheery staging tips and cut and paste filler from NAR newsletter’s.

  10. This forum will remain open as long as the conversation remains civil. That doesn’t mean we need to agree on anything more than agreeing not to agree.

  11. Chicago, I don’t think the comments section, however rude, leaves a negative impact on the realtor. Charles is rather diplomatic in his responses which helps him, IMHO. It’s the topic the realtor posts on that effects the realtor’s business. Jeff Kempe’s blog comes to mind. Last fall he was saying that it was a great time to buy in Lake Oswego and that the stock market was ready for a huge rebound because of our strong fundamentals. Really? Why doesn’t anyone elaborate on these ‘strong fundamentals’? And look at RE and the stock market now!

    It’s best realtors leave these types of predictions rolling around in their heads and not post them ‘cuz it sure makes ’em look like fools 6 months later is not sooner. And as a realtor, you may lose trust and credibility among your potential clients.

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