Attitude & News Home

Directories
  Int'l Realty
  US Realty

Winds of Change
In the past five years, the Internet has transformed from a relatively dull, complex, network inhabited by techies and academics, to a rich, multimedia, interactive medium available to the masses.Exploding beyond everyone's wildest expectations, sales of goods and services over the Internet is projected to exceed $1.2 Trillion by the year 2001.1 A significant chunk of this will be real estate related commerce.

Residential real estate consumers today have almost instant access to rich, multimedia based information on available properties and related data-information which was previously the industry's closely guarded raison d'etre. This is the beginning of a new phenomenon of the Internet Empowered Consumer (IEC).Emergence of the IEC is the primary factor influencing the fundamental shift that is affecting the real estate industry. Within a few short years, current and projected innovations to the Internet will hasten the transition considerably.It will take a dramatic-perhaps ominous-turn for those organizations and individuals who choose to ignore it, or fail to understand its true nature.

This document provides insight into the Net's impact on the residential real estate industry today, and how its look and function will likely be affected over the next 3 to 5 years. It shows how key industry players-agents, managers, executives and organizations-can navigate to this new reality while avoiding the inevitable storms, rocky shoals and ill winds along the way.

Contributing Author
Michael J. Russer
Michael J. Russer, President of RUSSER Communications, is an internationally recognized speaker, writer, and strategic consultant for the real estate industry about the Internet. His 22 years experience in the real estate field include the development of marketing and software systems as CEO for a high-tech mortgage consulting firm he co-founded. Also an authority on Internet risk management, he recently authored the industry's first comprehensive Internet policies and procedures manual for those companies that have agents active on the Net. He can be reached at (805) 882-1170 or mrusser@russer.com.

Acknowledgements
This White Paper is the result of a collaborative effort by many people. In particular, feedback from several leaders of the residential real estate industry was invaluable in keeping the vision and ideas presented here on track, consistent, and credible.
Becky Swann . . . . President and co-founder of IRED.com
Chip Roach . . . . . . Vice Chairman of Fox & Roach Realtors
Rich Bornazian . . . CIO of Long & Foster Real Estate
Bill Jansen . . . . . . Evp of Pacific Union Real Estate
Hal Kahn . . . . . . . . CEO of Kahn Realtors BH&G
Terry Morris . . . . . EVP of Northside Realty

More information on Intel can be found at www.intel.com.
Copyright © 1998 Intel Corporation. All Rights Reserved.
All third party trademarks and brands are the property of their respective owners.