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Put Emphasis on ‘New’

While sincere, January’s “Happy New Year” salutations are usually exchanged with a lighthearted air…certainly, no deep-seated thoughts here.

For those of us in the real estate business, however, well wishes for the New Year carry a little more weight; for real estate professionals, the word “new” needs to be taken very seriously.

Why? Because everything about today’s real estate market is new-new challenges, new problems, new demographic groups…even new opportunities. This means, however, that we, too, have to get out there and do something new to survive.

No one is above this mandate-even 44-year-old real estate companies like Realty Executives. In this month’s cover story (page 94), learn how even a successful, proven company like Realty Executives realized that it needed a new look and a new strategy in order to continue on as one of the leading firms in this business.

“While we experienced significant growth during the last 15 years, I was keenly aware of the dangers of losing our differentiation in the industry as a result of the easy growth we all experienced,” explains Realty Executives President & CEO Rich Rector. “Therefore, in 2004 I challenged our leadership team to refocus and renew our brand.”

Refocus and renew. Whether you’re a broker, an agent team or a top-producing agent, we can all take a cue from Realty Executives. Finding new ways to operate in a new landscape is a must. In our special interview with LeadingRE President & CEO Pam O’Connor (page 35), she shares some spot-on insights into the changes real estate has gone through and what real estate practitioners can do to survive.

“Just as restructuring and changing the culture of the auto industry is essential to its long-term health, I believe that a different mindset in real estate will only be good for consumers and real estate professionals in the long run,” she advises.

As Pam points out, this “new” real estate landscape is not a bad thing for our industry but, ultimately, a good thing. So don’t let the newness intimidate you. Approach this year with confidence, a new mindset, and a new resolution for success.

Wishing you continued success,

John E. Featherston
CEO & Publisher