Twice a year, Inman News produces a conference that brings real estate professionals together with the world of technology for a 3-day festival showing off the latest in real estate technology as well as offline trend predictions for the industry. The conference is Real Estate Connect and I was lucky enough to be able to attend this January, in New York.
For anyone connected to real estate or is the proprietor of technology associated with the industry, attending this conference is a must as it’s a podium for industry leaders to explain the details of their success and also to display their services to a captive audience starving for new ways to make money and save time concurrently.
While past conferences were memorable, the highlight of this one was on the morning of Jan 13th. The day opened with a general session that included all five of Realogy‘s world famous brands CEOs; Jim Gillespie of Coldwell Banker, Sherry Chris of Better Homes and Gardens Real Estate, Rick Davidson of Century 21, Charlie Young of ERA and Mike Good of Sotheby’s International. These global leaders in real estate franchising shared the stage for a half-hour session about topics ranging from their predictions for 2011 to near term global expansion plans.
On the outlook for American real estate in 2011:
Sherry Chris – “We’re realistic and that’s the way we need to be. The message we want to portray to our brokers as well is that we’re not overly optimistic and that’s the important thing.”
Jim Gillespie – “Real estate has led (the United States) out of every major downturn and recession since World War II but this time we need help from the economy. What we look at now is other industries and see how well they’re doing. The (American) auto industry was up 11% in 2010 over the previous year and I think for most people housing is the largest expenditure they make, automobiles being the second and I’d like to see something happen in our industry like what happened after Cash for Clunkers.” He was referring to the buyer’s assistance program implemented by the American government in July of 2009 that (to debatable results) is given partial credit for resuscitating the American auto industry.
Rick Davidson was open about Century 21's goal of increasing global presence by saying just that; “Our goal is to grow globally.” Currently, Century 21 has a total of 121,000 agents with only 70,000 of that number based in the United States and Canada. Davidson also iterated that the company had just “celebrated their 10th anniversary in China” with plans to expand further into the Middle Kingdom.
Audience questions were welcomed and one member noted that decades ago, 70% of the North American real estate industry was aligned with a handful of brand name companies. Today, that number has dwindled to 30%. The question posed was whether agents are better off working with large brand names or not. Without hesitating, Jim Gillespie replied “You’re better off with us than without us,” which pulled a good-natured laugh from the audience.
As a follow up, Sherry Chris pointed out that “(30 years ago the industry) was a broker controlled environment which shifted to an agent environment and now it has shifted to a consumer environment.” Her message was that even the largest corporations must acknowledge the increased power that an independent agent wields thanks to the level playing field moulded by current technology.
Real Estate Connect NYC wasn’t just for agents to talk shop but also was a showcase for the latest in real estate technology. Dominant software displays included top time-saving apps that agents need to know about, sessions on how to use social media tailored specifically for agents and location-based technologies like Google Maps and Facebook Places complete with tips on how to fully utilize these services.
One specifically notable technology that was showcased is the aptly named “BuyerMLS” that takes the idea of a traditional multi-listing system that lists properties and focuses on the other side of the deal; the buyer. Agents using the system can upload their buyer’s criteria to advertise to other agents. Agents with properties that match the buyer’s criteria can then contact the agent representing the buyer.
BuyerMLS is cloud software, accessible anywhere you have an internet connection and even though the developer’s intentions are for inter-office communication, the software can have easily extrapolated benefits for increasing inter-broker transactions. Instead of touting time savings like all the other displayed software, Buyer’s MLS was the only software that helps agents increase revenue.
The next Real Estate Connect will be held July 27th – 29th at the Hilton San Francisco Union Square.
Tokyo Apartments For Sale | Tokyo Apartments For Rent | Real Estate Japan
No comments:
Post a Comment