The more I look and research the troubles within the real estate world the more I realize the impact the banks have had and will have on our real estate future! All our woes started when they went mad lending monies to every one including those who should not have got it. Now after the market has gone into melt down and needs the finance from banks they are very slow at responding.
Finance from a feast to a famine!
So we have gone from a feast to a famine as regards bank finance. The markets need banks immediately to start releasing funds to support and kick start small and medium business companies and eventually filter out into real estate. The problem here is the word eventually as the real estate market is not a major priority market as it is not as crucial or urgent to the economy at the present.
Real Estate on the back boiler!
Yes the real estate industry is a big market and employs a large amount of people and has considerable political clout, however it is not as crucial to the economy as the banks and the commercial sector. This in our opinion is a big problem for the real estate industry and we are not going to be spoon fed by the government or anyone else.
Rebuild Real Estate!
We are going to have to be innovative in restructuring our industry and promoting our services. We believe that the Real Estate Associations are going to have to start using their considerable funds to promote real estate services. They will have to be more supportive to their members with marketing aids and promotions. Realtor’s should not have to pay for marketing materials or software etc and a serious reduction in realtor fees should be on the agenda as we are all suffering in the present environment.
So let’s take a new look at our industry and help us to rebuild.
