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Consumers Prolong Mandate For Bundled Services
REALSURE WHITEPAPER ANALYSIS OF DEMAND "ON TARGET"
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ALISO VIEJO, CA., Oct. 19, 2005
- RealSure, Inc., publishers of the confront series of books
and whitepapers announced that their latest publication was
in response to growing consumer pull for one stop shopping and
bundled real estate services. On November 1st the new whitepaper
-Real Estate confronts Bundled Services, can be downloaded nationwide
from http://www.realsure.com
and http:/www.realtrends.com.
Advance printed copies will be available at the National Association
of REALTORS® annual convention in San Francisco on October 29th
and 30th. This publication explores the snarled world of one-stop-shopping
through an analysis of the bundling of mortgage and closing
services and an evaluation of key players therein.
The three co-authors of this whitepaper are all well-known and
widely recognized industry experts. Best selling author Stefan
Swanepoel serves as Chairman and CEO of the RealtyU® Group,
the nation's largest network of real estate schools. Anne Murray-Randolph
is Editor of the recently launched and very prestigious lore
(Lives of Real Estate) magazine, while Stephen Murray is CEO
and Publisher of REALTrends, one of the nations leading
real estate news services and hosts of the popular Gathering
of Eagles annual conference.
According to the whitepaper on an average business day 20 to 25 thousand residential real estate purchase or sale transactions take place (6-7 million existing homes and 1-1.5 million new homes every year). During an eight-hour business day that is almost one every second. These are complex real estate transactions involving multiple companies in the industry that provide a wide range of services: brokerage, mortgage, title insurance, legal, escrow, home inspection and warranty, property and casualty insurance, utility, communication and a host of other transactional and post-transactional services.
Residential real estate agents are already coming to them armed with the exact homes they want to see in a particular neighborhood. Today, in many instances, consumers have already figured out what they can afford and have already received a mortgage commitment. Current events make it clear that there is no doubt about it, the consumer is gaining control of the home finding process.
RealSure has been tracking this trend for the past 8 years and
in Real Estate confronts Reality (1997) stated that
"One of the first real estate processes to be automated will
be the marrying of the home purchase and the home financing
processes." In 1999 Real Estate confronts Technology
warned that "Should real estate professionals wish to succeed
in the new world of the Internet they will have to focus on
creating a consumer-centric model that allows them to take ownership
of the entire transaction." Real Estate confronts the e-Consumer
(2000) warned that "The real estate transaction is not just
the destination of a house purchase but rather the journey of
a home ownership experience. One Stop Shopping is not the brainchild
of the real estate industry but a demand of the consumer."
In 2002, Murray Consulting and Harris Interactive (parent company of the Harris Poll) researched 2,052 recent buyers to determine their interest in One Stop Shopping. When offered the option of a simplified One Stop Shopping process in which all services required for the transaction are provided through one single source, consumers clearly indicated a strong preference for this option. Eighty-two percent (82%) of all buyers would strongly consider using this type of service, with forty-seven percent (47%) indicating a high degree of willingness to consider this service.
Many industries and services have raced to meet the needs of these "New Millennium" buyers. But, as is so frequently the case, the current system in place is antiquated and fails to provide these emerging buyers what they want. This leaves the service providers within the real estate industry with the challenge of locating and delivering the elusive silver bullet. While the industry is seeing a good deal of consolidation, the issues of geographic inconsistencies in both law and practice across the states, wildly different sizes and forms of real estate service offerings, an explosion of mortgage products allowing heretofore unqualified consumers to become homeowners and disparate opinions about how to most effectively serve the customers have only caused more confusion and frustration. It is a little like staying abreast of all the developments in the medical field. A doctor could read 24 hours a day and still not be effectively knowledgeable about everything that is being offered. Concepts like streamlining, integration, One Stop Shopping, e-commerce, "bundling" and "packaging" are all new concepts in an industry that has just been trying to keep pace with an unprecedented level of demand.
The whitepaper discusses where the industry finds itself in the process today, how it got there, which major players were the trend's forerunners and the road ahead as it is being defined by the major players impacting how the game is to be played. |
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About The RealtyU® Group
Formed in 1995, RealtyU has developed into the nation's largest
real estate career development corporation for real estate brokers
and agents. The Group has numerous investments in the real estate
education and real estate training arena, including RealtyU,
Inc., iSucceed, Inc., Real Estate Professionals Society, CourseDates,
Seller Agency Council and Broker Agent Speakers Bureau, Inc.
With over 200 campuses, 18 websites and online educational services
and over 337,000 agents trained in 2004, the RealtyU® Group
of companies educates approximately one out of every four REALTORS®
every year. For more information, visit www.RealtyU.com. |
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| Swanepoel Trends Newsletter |
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The real estate market has changed. Lenders have tightened their belts and now it’s much harder for people to get a loan to buy a home. Not to mention the fact that more and more people who bought in the last 5 years are now getting into financial hardship and need help. Are you empowered and knowledgeable about this large market and how to serve it?
Enroll now and start becoming a “Master Negotiator” in real estate.
