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Emerging Trends in the US Real Estate Industry: An Analysis

This report explores the emerging trends and issues that are likely to impact the US real estate industry in the coming years. From shifting brokerage and agent trends to the evolving consumer behavior and technology advancements, the report delves into how these changes are reshaping the industry. The conclusion highlights the relentless nature of change and the new opportunities it brings for brokers and agents.

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Emerging Trends in the US Real Estate Industry: An Analysis

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  1. Introduction • What lies ahead for the U.S. real estate industry in the next few years? Identify emerging trends and issues likely to impact real estate industry

  2. Introduction THIS REPORT COVERS • Industry Trends: A Shifting Kaleidoscope • Brokerage Trends: A New Definition of the Business • Agent Trends: Gaining Control of the Business • The ‘New’ Consumer: A Force for Change • Technology Trends: A Voracious Appetite for Data • Conclusion: Change is Relentless

  3. Introduction Strategic Issues Work Group Participants Mark Allen Rob Authier Andrea Bushnell Cindy Butts David Charron Glenn East Bob Golden Kristin Karlson Brian Larson John Piper Kathy Roberts Peter Shuttleworth Joel Singer Bud Smith Cindy Sampalis, NAR Nancy Wilson Smith, NAR Jerry Matthews, Chairman

  4. Industry Trends: • The agent is the brokerage business. • Ancillary services are now core. • Brokers play a supportive role. • Agents are becoming shareholders. • Consolidation of firms. • Control of the transaction process. A Shifting Kaleidoscope

  5. Industry Trends: • Loss of industry leaders. • Multiple brand ownership. • Low-cost “freedom shops.” • Value disconnect. A Shifting Kaleidoscope

  6. Brokerage Trends:A New Definition of the Business • Imposing transaction fees. • Lowering agent commissions. • New limited-service subsidiaries. • Aging of the brokerage owners. • Managing potential liability.

  7. Brokerage Trends: A New Definition of the Business • Company branding. • Building intranets. • New sales training. • Community partnerships.

  8. Agent Trends: Gaining Control of the Business “Nothing will take the place of actually looking at the homes.” -A top agent • Growth of agent teams. • Pricing pressures. • Agent branding. • Related lines of business. • Technology skill levels. • Direct access to MLS data. • Controlling the “book of business.”

  9. The ‘New’ Consumer: A Force For Change • Convenience • One-stop shop • Low-cost service • Technology, technology and more technology • High-level performance • Consistent brand experience

  10. What’s changing in this equation? • Trust • Internet presence • Evolving Internet-based models • Community “The way society looks at home and community is changing, and we as an industry need to look at that.” - A broker

  11. Technology Trends: A Voracious Appetite for Data • Maturing of the Internet • “Parochial” MLS attitudes • Enforcement of data policies • Impact of VOWs • Value of property data

  12. Conclusion • Change is relentless • Velocity of change continues to increase • Change creates new opportunities for brokers and agents

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