I came across an interesting read in a recent RISMedia article which highlights how several major American real estate players are positioning their prospective ‘game-plans’ for 2010. More specifically, the article talks about what Power Brokers in California, Florida and Las Vegas (3 of the hardest hit areas in the U.S. when it comes to real estate) are doing to stay competitive in today’s market.
Admittedly, the article is a bit of a drawn-out commercial for RISMedia (so try and read between the print-o-mercial lines) But I think there is some insight and advice virtually any salesperson, broker or agent can take away and individualize for their own business.
I like the comment from Mark Stark (Las Vegas based Owner and CEO of Prudential Americana Group) about the idea that essentially says the most successful brokers are the ones which build their business plans based on how they can exist and be healthy in today’s environment. Building for the future, and preparing to be successful within it, should always be paramount. But often-times putting the ‘cart before the horse’ can simply set the stage for failure because in order to get to the future – you also need to be able to get out of the starting gate or ride out the storm.
Stark also brings up a point that not necessarily everyone is thinking about enough – and that’s the commercial sector. In Stark’s neck of the woods, he’s predicting the commercial fall-out wave is yet to fully peak or come crashing down. And that has a lot to do with the distractions and concerns already experienced within the residential sector.
Same could be said for Canada (likely minus the large number of foreclosures Stark is forecasting) in the commercial sector. A softening of that market is a reality as companies continue to tighten their purse-strings when it comes to corporate budgets and expenditures.
Later in the article, Ed Krafchow, President & CEO of Prudential California/Nevada talks about the prevalence of technology in today’s market and as we move into the new year and beyond. The idea of paperless companies and going green is an intriguing reality that’s also changing the way we do business. And the idea of ‘going green’ now – or at least getting a handle on entertaining the idea and taking some steps to plan and realize how that will shape-out in your organization – will allow for better transition in the future, when going-green becomes more mainstream.
Best of Season & Happy Holidays.
