The home sales market is booming, and the demand is rising for quality.
But some realtor organizations are starting to feel the pressure to improve their reputations, while others are just trying to find their footing.
Realtors nationwide say they need to focus on improving their brand.
The home buying industry has been slow to adapt to the new realities of the consumer and marketplace.
For example, many companies are still selling in large numbers of homes, including the big-box retailers like Walmart, Target and Home Depot.
And while many companies have become more focused on digital channels to help their consumers navigate the new environment, others are still trying to make the leap to the real estate market.
“I think we’re all struggling with the same thing,” said Paul Hsieh, senior vice president at REALTOR, an association of real estate agents.
“You’ve got to make sure that the brand is the same, that the products are the same.
You can’t be too aggressive.”
The industry also faces the challenge of growing rapidly in the face of a shrinking supply of homes.
“It’s always been a difficult time to build and sell real estate,” said Steve Ritchie, a vice president of marketing and consumer research at REVOCOM, an organization that represents more than 3,500 realtormen nationwide.
“But with the increase in the number of people looking for homes, you can expect that there will be an increase in home prices.”
Home prices have risen steadily since 2007, rising more than 50 percent, according to Zillow.
For many people, buying a home can be the most affordable part of their lifestyle.
“The homebuying experience is one of the best things about home ownership,” said Scott Pappas, president of REALTORS.
“So it’s a great opportunity to invest in your home.”
The average price of a home has climbed nearly 10 percent a year since 2006, according a report by RealtyTrac.
But the realtor industry is starting to see its share of the pie shrinking.
“If we are going to stay in the growth business, we’re going to have to be able to compete,” said Pappassas.
The National Association of Realtors says the number and pace of home sales are slowing and that sales are declining in the Northeast and Midwest.
The organization says the average sale price of single-family homes has fallen for three straight years.
REVOTERS FOR REALTY REPRESENTED THE REVOLUTIONARY REALTORS IN THE 1950S, and today’s REVOLUTORS represent the most innovative and dynamic generation of realtor agents in the country.
“There are still people that think real estate is like a black box,” said Chris Kress, a senior vice President at REVOLTERS.
“We’re here to change that, to bring home value and affordability to every home that we see.”
And some of those agents are making a difference.
The association, which represents more 2,600 brokers, has added more than 100 new realtor organizations and more than 2,000 members.
REVOLVE OF THE DAY A few weeks ago, REVOLUTE OF THE day was launched by the Association of Real Estate Agents of America.
It’s an organization focused on helping realtores understand the impact of real-estate regulations on the marketplace.
ReVOLVE of the Day is a collaboration between REVOLTS, a national network of realty agents, and REVOLVERS.org, a website dedicated to realtor transparency.
It provides agents with tools and information to help them understand the legal requirements and regulations that affect their profession.
REVERSAL OF THE MONTH: The real estate industry’s biggest change has been in its stance on regulating home prices.
In 2008, when the Consumer Financial Protection Bureau issued a rule that would have required lenders to take out more of borrowers’ mortgages in order to offset the rising costs of living, many brokers started lobbying Congress for a legislative fix.
REPRESENCE OF THE FUTURE: The number of brokers working in real estate rose from roughly 500 in 2008 to about 1,000 in 2015.
But today, more than half of the brokers who work in the realtoring industry are still in the business, said REVOLVER.
“Today, most of our brokers are still here,” said Ritchie.
“They’re still doing the work of making sure that real estate comes first.”
And those brokers who are still making a living out of real properties, like REVOLVES, are looking to diversify their portfolios.
The realtor association, however, says that diversification is not a realistic option.
“Realtors are very good at being able to find people who are in the same market,” said HsieH.
“That’s what we’re trying to get to, is that