On Monday, the National Association of Realtors concluded its 2018 Conference and Expo. Throughout the event, leading economists, business executives, and Realtor members discussed the housing and market trends that are on Realtors’ minds today.
Short-term and Long-term Concerns
During the event, Realtors heard from experts from the Counselors of Real Estate (CRE), on the group’s “Top Ten Impacts on Real Estate 2018-2019.”
CRE is an international organization of property professionals which includes principals of prominent real estate, financial, legal, and accounting firms, as well as leaders from the government and academia.
Among the hot-topics the CRE narrowed in on, they split the top 10 list among “short-term” and “longer-term issues.” Short-term issues included interest rates and the economy; politics and political uncertainty; housing affordability; generational change/demographics; and e-commerce and logistics.
“When it comes politics, CRE tries to illuminate rather than advocate,” said CRE member Hugh Kelly, of Hugh F. Kelly Real Estate Economics. “However, we think it is obvious that the dysfunctional state of our political discourse and our unwillingness to compromise on issues stand in the way of problem-solving - problems like the ones on this list.”
Want to learn more about how politics and the midterm elections could impact the housing market? Click here.
Longer-term issues the group highlighted were infrastructure; disruptive technology; natural disasters and climate change; immigration; and energy and water.
Tech & Data Protection
A significant portion of the conversation at the event also centered around new technologies and data security. In one forum titled “Blockchain, Bitcoin & Robots in Real Estate,” panelists discussed how to deploy these new technologies in the day to day business.
Leading the session was Bill Lublin, technology author and CEO of Century 21 Advantage Gold. Lublin and the other experts discussed to what extent future home purchases may utilize cryptocurrency, and also the way blockchain—the tech that powers cryptocurrencies can be utilized.
“The thing I want to caution you about, is that just adding the term blockchain to a business doesn’t make it a winner. Blockchain does get mentioned a lot, and I’ve seen reports from analysts that claim just the word ‘blockchain’ added to a business plan made company valuation increase 35 percent, almost automatically. But, in reality, sometimes that blockchain technology doesn’t add any value to the process,” Lublin said.
As with any new technology, it is also important to focus on how Realtors can help ensure that the data that passes through their offices is protected.
Robert Siciliano, CEO of Safr.Me led a panel during the event titled “Data Breach: Protect from Spyware, Malware, Ransomware & Keyloggers.”
“Every few seconds, someone's identity is stolen because data is breached, computers are hacked, or credit cards are compromised. As a result, businesses and reputations are experiencing security risks many are not prepared for. The system we function under, combined with the conveniences of technology can be easily flawed by simple scams,” Siciliano said.
To learn more about the 2018 Realtor Conference and Expo, click here.