The National Association of Realtors D.A.N.G.E.R. Report is out, and the news for real estate professionals is – well – negative, as the name indicates.
What kind of D.A.N.G.E.R.?
An acronym for the “Definitive Analysis of Negative Game Changers Emerging in Real Estate,” the report is a mix of yesterday, today, and tomorrow’s real estate news, highlighting challenges facing real estate professionals in an attempt to foresee possible future roadblocks before they send the industry – and your career – careening off a bridge. Configured by the Swanepoel T3 Group, it includes information from top industry minds from within and without the real estate genre.
How bad are the threats to the residential real estate industry?
None of the dangers in the report are predictions, trends, or allegations, simply potential threats, from incremental changes to possible overnight surprises. A roadmap to help you navigate potential hazards in the battle zone, as it were.
Agents – take heed!
- Availability of affordable mortgage financing could jeopardize the industry.
- Massive numbers of agents who seemingly got their license off the back of a cereal box could threaten industry credibility. Competent, knowledgeable agents could experience the backlash.
- Consumer awareness regarding agent commissions could put increased pressure on agents for reductions – or alternate solutions for agents and brokers may be sought.
- Agent teams could squeeze out solo agents and/or brokerages representing them, in addition to creating possible legal ramifications involving standards and best practices.
- A possible IRS ruling reclassifying agents as employees rather than independent contractors could lead to a massive industry reorganization as brokerages hire/fire to cover costs, wages, and benefits.
- Changing consumer demands and expectations may redefine agents’ roles, possibly leading toward the end of an agent-centered industry.
Real estate professionals, you’re not out of D.A.N.G.E.R. yet! Stay tuned for Part 2 of negative real estate game changers – only on Properties Online.