We held our inaugural “Real Estate Crystal Ball” event on Wednesday, January 13th and what a success! All bases covered from statistics and forecasting to practical business ideas and comic relief! One of the best outcomes was a general air of confidence by all that participated and attended … knowing what to expect, how it might curve ball on us, concentration on infrastructure and systems and lastly some validation that many of the thoughts, theories and principles we’ve all independently pondered on have credibility and merit your concern and attention. The best attention paid is to prepare your business for a topsy-turvy environment full of opportunity amidst its ‘curve balls’.
I especially thought the “Likely 2010 Scenarios”, shared by Mike Orr, echoed and confirmed that short sales will continue to grow, pending foreclosures will decline and we’ll see a growing segment of 3rd party buying at trustee sales. Unfortunately, the forecast is that pricing will likely continue to slip through the first quarter with expected bounce backs first in the short sale sales prices and in traditional resale sales prices. I thought the shortage of rental listings was also an interesting indicator to observe how it affects our real estate market.
Finally, I found the panelists to be such a diverse group representing many different facets of real estate from geographic area, areas of expertise, best practices and opinion. Sandra Wilkens, pointed out her focus on online commerce/marketing and how important education is. Scott Gibson, who’s done over 700 transactions predominantly in the REO arena, is making a sharp full-focus effort on short sales & traditional resale, that systems/infrastructure and strategic partnerships are pivotal to his team’s success. Don Matheson, Remax Fine Properties, remarked that how he runs his real estate business will also take into consideration economic indicators like unemployment and legislature. My hat’s off to all the panelists for their candor and openness to share their “secrets” on how they run their businesses and develop their best practices.
Notes provided by Bernadette Espinosa
Fidelity National Title
Business Developement and Marketing
602-448-9907
bernadette.espinosa@fnf.com
http://www.bernadetteespinosafnt.com/
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