Artur has opinions - be it on ongoing real estate evolution or why history and its lesson are important. He speaks up on local real estate market (San Francisco Peninsula) as well as on social and political events and processes impacting us all.

Friday, November 24, 2006

Market changes - interesting statistics

In previous postings we discussed MLS changes and their drivers. We mentioned that "big brokers" are putting a presure on MLS' to offer search across existing MLS boundaries. As clients are getting more used to benefits of Internet, and their needs and expectations are becoming known to "big brokers" we can expect more changes and demands. But can we envision how these demands based on changing demographics? According to Bernice Ross from Inman News:

"A fundamental shift is occurring in the real estate industry. Just a few weeks ago, the number of single people in the U.S. exceeded the number of married couples. In 2007, 60 percent of our transactions will be with immigrants and minorities. According to Tchong, we also have many more single female buyers as opposed to male buyers: 11 percent of single buyers were male as compared with 28 percent of the female buyers. Even more surprising, the Chicago Mercantile Exchange has launched the first futures program that will allow homeowners to hedge their home's value."

We certainly will see the continued, increasing impact of the Internet. However, the pace of this change will depend on demographics of this group. How many immigrants are educated in the US, what will be a break up olders vs. younger clients? Whta brokers and agents should be doing to adapt to these changes?

What do you think? Please share your opinion with us.

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Subscribe to ARTUR'S ATTITUDES posted by Artur Urbanski @ 5:51 PM  0 Comments Links to this post