There's something invigorating about the thought of spring! Even though much of the ground is still snow covered, the fact that the days are lengthening gives rise to hope. A sentiment aptly captured in the words of an old African proverb that says...'No condition is permanent in this world.’
Change…The New Constant…
If ‘Change’ is a constant, it is one which members of the real estate community are familiar with. Last month, members of the Grand Rapids Association of Realtors® completed a survey about their needs in the year ahead. According to the survey, here are the top 5 areas of concern for GRAR members in 2011.
1. Education – Including Social Media, Blogging & Technology
2. User Friendly Relevant Tools for Business – Including MLS applications
3. Mobile Technology - Smartphones, Apps etc
4. Building Better Relationships amongst Members
5. Authentic Communication & Transparency
The items on this list reflect what agents across the country are saying. Do you realize that some items on this list, such as Social Media and Blogging were not even invented a decade ago? That's how rapidly our world is changing! It is imperative that we adapt to embrace these changes and utilize new tools to enhance our services and improve productivity.
Productivity…the New Values Discussion…
Productive individuals are proactive. They respond to change rather than simply react to it. Productive individuals are also more likely to generate a Profit because they provide a good Value for their services. The Values discussion is one which the consumer increasingly engages when considering the hiring of a real estate professional. The Values discussion is one which envelopes every element of what we do as REALTORS. It is also one element of our industry which is undergoing the greatest level of SHIFT...
Proactively…The New Paradigm for Profitability
To be profitable in the future, the Values discussion will also be a personal question. One which is increasingly posed by potential clients and members of the general public who are asking questions about the value of home ownership during a time where there have been significant declines in home equity.
As real estate professionals, we must be prepared to address these issues on a variety of levels. That conversation must move well beyond the slogans which tell us, 'It's Great Time to Buy or Sell!' For instance, did you know that the current administration is currently in the process of determining the future of Fannie Mae and Freddie Mac? These two companies are involved in the vast majority of mortgages in this country. The fate of these institutions has the potential to impact the housing industry in a significant way.
As the financial crisis has unfolded, it is increasingly clear that mismanagement and under-capitalization were factors which had a devastating impact on the viability of Fannie Mae & Freddie Mac. As real estate professionals, it's important to be aware of the issues being considered by our elected representatives and to voice your opinion.
If you're a Broker, make sure you are enrolled in the NAR Broker program so that you are informed of key initiatives and can communicate the implications and appropriate actions to your agents. Failing to engage in conversations which affect our industry has the potential to impact Profitability and the benefits and value our industry provides to consumers. Failing to be informed is in my opinion...irresponsible.
Process...Sustaining Healthy Growth
As the first signs of life begin to emerge at the start of spring, they’re often easy to overlook them because the earth is still draped in the garb of the remnants of winter. But, the camouflage cannot stop the relentless progress of the growth that has been occurring below the surface and will soon emerge.
The winter of our season of challenge as an industry, has forced us to dig deep into our internal reservoirs to meet the new demands of our profession. This has not been easy. We must remember that some things must not change and strive to protect and strengthen that which strengthens the bonds and relationships between our members.
Many within our ranks have not survived the process of this difficult transition. As a current member of the real estate community, your presence bears witness to the courage and tenacity to weather a relentless economic storm. These challenges have had the effect of forcing a transformation...one which is still ongoing in creating the blue print for re-engineering our Value Proposition as we move forward.
Yours in Re-Invigorating Profitability
*Abreviated version of the President's Message for the Grand Rapids Association of Realtors®
Lola Audu, is the Designated Broker & Owner of Audu Real Estate. Our company specializes in helping people buy and sell homes in the greater Grand Rapids, West Michigan area. You can contact us via e-mail @ firstname.lastname@example.org or by phone at 616-791-0511. Thanks for visiting our blog. Here are links to some of our most popular posts for you to enjoy!