National Predictions and Trends
No one accurately predicted the crash of 2007 in our economy and the real estate industry. Many could see it coming but no one anticipated the effect that it would have on everyone. It is the same for almost every prediction that is made. We can only basically guess what could happen in the future. Some of us imagined that life would be like we saw on the TV show “The Jetsons.”
Have you imagined the future and your predictions were close to reality?
There is no national real estate license. All real estate agents are licensed by their individual state. Some states have reciprocal licensing or requirements in that you can bypass a class or step to become licensed in another state. The National Association of REALTORS is an organization of real estate agents. Not all agents are members. In some states including Washington, the REALTORS does not own the MLS. In many states membership in the REALTORS is required in order to access the MLS. You can now search listings across the country from the smallest town over 3000 miles away.
Do you picture a database that includes all properties nationally?
Transactions have become almost virtually paperless. Real estate transactions might occur completely online without paper documents for everything from the agreement to the loan application. Today, you can purchase almost anything within one to two clicks on your phone or computer. Transactions will happen with forms that are uploaded and signed using electronic signatures.
How do you see the transactions becoming more virtual?
Most real estate agents work in a firm that is part of a national or multi state franchise. Some have international connections. This gives the agents access to information and technology that might not otherwise be available from a small boutique firm. It also links agents across state lines for referrals and relocation.
Do you see agents continuing to gravitate toward the mega real estate firms? What is the future and advantage of the small boutique firm?