Technology has Gates.
Style has Martha.
Industrial design has Steve Jobs.
Sports has Cuban.
Capitalists have Gene Simmons.
They serve as guides.
They make sense of their categories.
They offer direction. Explanation. Sometimes, hope.
Who does real estate have? Who speaks for this industry?
Right now, the most credible public voices stand in opposition. Glenn Kelman. The Mainstream Media.
The DOJ.
This industry is in crisis.
Ask anyone why homes aren’t selling despite low rates, falling prices
and a healthy economy and the answer is always the same: We’re scared.
The DOJ’s new website provides a road map for
those
interested in battering the business. Numbers like the $93 billion Americans paid in commissions
in 2006 sit there, floating like a slow pitch about to be clobbered by reflexive real estate critics.
And consumers? They will eat this up and spit it right back out like an angry camel.
Again: Who speaks for this industry?
Is there anyone that might explain this information, might assuage some fear about the market, or restore some hope?
NAR, the "Voice of Real Estate" has obliterated its credibility with
hackneyed statements and airbrushed data. Allan Dalton is at an
undisclosed location cooking up something "transformational". Dave
Liniger is a gutsy genius, but seems distracted.
Real estate needs someone to light the path forward for the million-plus practitioners now
struggling and the tens of millions of consumers looking
for a reason — any reason — to trust this business.
Real estate needs a leader. See any prospects? Let us know.
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A mist of difference
IMHO, a single visionary is unlikely to emerge and less likely to transform our trillion dollar industry than the collective actions of like-minded innovators. In the absence of a formal coalition, maybe an outside influence, perphaps a world-class celebrity, can help push the industry past a tipping point. At least that's my hope with Bono's keynote speech tomorrow at the mortgage brokers conference in Boston:
http://events.mortgagebankers.org/94th_annual/speakers/
A Reuters headline says he's simply there to lure mortgage brokers to the event, but it's more likely he's there to challenge the real estate industry to get involved in (product)RED or create their own AIDS related fund raising campaigns. That was the subject of this blog post seven months ago:
http://realestatecafe.blogs.com/real_estate_cafe/2007/03/creating_a_real_1.html
Any change agents who are interested in building a voluntary, industry-wide coalition to help real estate consumers save money AND SAVE LIVES, as Bono will probably advocate tomorrow, are invited to use these resources as idea starters for their own cause marketing and fund raising ideas:
http://changeagents.ning.com/
http://realestatecafe.pbwiki.com/SaveASAP
Good question. My husband and I are among the distrustful consumers you reference and we've often wondered what might change our attitude. The United States of Real Estate is not a pretty place. Somewhere along the line, houses ceased to homes. The social bennies of ownership morphed into Ponzi Au Go Go. Realtors spun the platters. Tis a rare viewing or open house that doesn't leave us feeling like we need a shower. Though not in the bathroom of a McMansion. Mold is great on cheese but not in your lungs. Seriously folks, I'd like to think systemic change is a-coming and a kinder gentler attitude and less booster BS will become the norm in Glengarry Glen Ross. Alas, I'm a cynic. The best hope for buyers is info provided by other cynics. Though I'm not so cynical I don't realize there are still a few decent people in real estate. Which is why I liked your piece in Inmans…
Thanks Carola. Fabulous contribution to an ongoing discussion. My concern in general is two-fold. I believe strongly that the real estate transaction between buyer and seller is too complicated to conduct without the professional benedictions Realtors provide.
Most buyers and sellers agree. They just are never really sure if their agent let alone the industry is really looking out for them.
Trust that the truly qualified professional would love to see stronger policies and better leadership and a governing body that was a true consumer advocate.
In the meantime, the more people speak out and voice their feelings, the sooner change can occur.
Thanks Carola. Fabulous contribution to an ongoing discussion. My concern in general is two-fold. I believe strongly that the real estate transaction between buyer and seller is too complicated to conduct without the professional benedictions Realtors provide.
Most buyers and sellers agree. They just are never really sure if their agent let alone the industry is really looking out for them.
Trust that the truly qualified professional would love to see stronger policies and better leadership and a governing body that was a true consumer advocate.
In the meantime, the more people speak out and voice their feelings, the sooner change can occur.