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The Next Real Estate Landscape: How to Stay Profitable

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The Power Broker Roundtable is brought to you by the National Association of REALTORS® and Jeff Barnett, NAR’s Liaison for Large Residential Firms Relations. Watch for this column each month, where we address broker issues, concerns and milestones.

Jeff Barnett, Special Liaison for Large Firm Relations, NAR

Scott McDonald, President, RE/MAX Gateway, Chantilly, Va.
LP Finn, Chief Operating Officer, Coach REALTORS®, Long Island, N.Y.
Jason Waugh, President, CEO, Prudential Northwest Properties, Portland, Ore.

Jeff Barnett: There’s an old axiom floating around that says, “The more you make, the more you spend.” To some extent, it’s true. Maybe it’s just the American way: get a sizeable salary hike, buy a bigger car. But as any first year economics student will tell you, the simple key to getting rich is to spend less than you earn. Does that mean that now, as the real estate market expands, we should still be reining in expenses? Or is this the time to hire more and spring for that brand new video system that takes marketing to the next level? Here to talk about the new real estate landscape and how to stay profitable within it are some industry leaders who’ve battled their way through a number of business cycles. Scott, why don’t we start with you? Extra nickels in your pocket these days? And if so, how are you spending them?

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