What forces will be shaping the real estate industry in the next few years?

The National Association of REALTORS® Association Executives Committee Strategic Issues Work Group held a series of discussions earlier this year with brokers, sales associates, real estate consultants, economists, and technology experts to determine today’s real estate industry trends. The report reveals these eight trends that will shape the real estate industry in the next few years:

  1. Simplify: Brokers, agents, and Associations are leaner and more focused.
  2. Consolidate: Firms and Associations are consolidating and merging.
  3. Collaborate: The new business culture is collaboration.
  4. Enrich: Consumers are demanding a richer transaction experience.
  5. Dream: Homeownership is losing its appeal as the promised dream.
  6. Embrace: Technology must be embraced as it impacts everything.
  7. Leadership: Times of uncertainty call for leadership at all levels.
  8. Evolve: Real estate and Association business models are evolving.

The Future:

“If we have learned anything over the last few years, it’s that we are the tail of the dog – we can’t drive the economy. But we can try to influence its direction and provide a voice for the consumer.”

Real estate brokers and agents are redefining their business model. Fresh ideas, innovative service models and strong leadership are needed at every level of the real estate industry.

Read the full report “Simplify: Real Estate Trends in a Time of Uncertainty” and watch a video overview.

This entry was posted in Consumer Information, Housing Market, Technology by Kara Kienzler. Bookmark the permalink.

About Kara Kienzler

Kara Kienzler is Webmaster/Communications Coordinator for the Illinois Association of REALTORS® (IAR). She serves as Webmaster for the IAR websites including www.illinoisrealtor.org and www.yourillinoishome.com. She is responsible for the design, layout, printing and online strategy of IAR publications including the Illinois REALTOR® magazine, e-newsletters and other publications, and assists with new releases, issues research, surveys and speechwriting. She also plans and develops content for the IAR blog at www.iarbuzz.com and coordinates the Illinois REALTOR® magazine Twitter account content at ILREALTORmag. She coordinates the Leadership Directory and serves as co-liaison to the Illinois Young Professionals Network.