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Real Estate Recovery Yields New Playing Field of Opportunities

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By Paige Tepping

Rick_Davidson_2013_CEO“There’s no doubt that we’re in the midst of a market recovery, and it feels good to have the wind at our backs,” explained Richard W. “Rick” Davidson, president and CEO of CENTURY 21 Real Estate, during RISMedia’s 2013 Real Estate CEO Exchange held last month at New York City’s prestigious Yale Club. “However, as leaders, we need to constantly be thinking about what’s next by anticipating where the market’s headed.”

A sentiment shared by panelists who took the stage during the session titled “Your Three Best Bets: New Construction, Global and Luxury,” Davidson went on to note that we all have the opportunity to take marketshare profitably from each other as time moves forward. For Davidson, growing that pie exponentially is all about identifying the next opportunity—or point of differentiation. “While one quarter of all goods and services that have ever been produced in human history were produced in the last 10 years, technology and communications have enabled a global economy,” said Davidson, who noted that international buyers represent a significant opportunity for real estate professionals who take the time to understand both the culture and process surrounding these buyers. “While Hispanic immigrants come here aspiring to be homeowners, getting involved with the National Association of Hispanic Real Estate Professionals (NAHREP) and the Asian Real Estate Association of America (AREAA) are two great ways to break into a demographic that’s nearly 19 million strong.”

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