(Click each topic for more information)

Changes in technology, competition, and the marketplace challenge today’s real estate sales practitioners as never before. It can be no secret to anyone in the residential real estate industry that the business landscape is changing tremendously and at a constantly accelerating rate. The real estate company owner/broker faces unprecedented challenges to business survival. From within the enterprise the cost of keeping good agents, shrinking margins, the need to be in more of the transaction revenue stream and larger investments in technology. From without, the encroachment into his or her traditional business by other industry players, and perhaps most importantly, the business must adapt to serve a technologically empowered consumer demanding new levels of service. To the prudent business owner these changes demand new service initiatives and a different way of conducting business; they mandate reengineering of the residential real estate business.

From author M. Hammer, +Clinic 92, Nov 1992: "Business process reengineering is about adapting operations to the demands of a changed environment". The real estate sales environment has changed and is still changing:

• Enlightened and empowered consumers.
  Through the Internet, consumers have access to properties for sale, loan origination, insurance, etc.

• Industry participants compete with each other.
  Realtors go into the mortgage and title business, title companies provide flood plain and public record data, mortgage brokers/lenders enter the Realtor’s business.

• Emergence of Affinity Agreements as major market force.
  Most real estate firms first reject and then embrace and compete for affinity relationships.

• Consolidation of ownership of real estate firms; CENDANT/NRT, Prudential, GMAC.

• Technology. Consumers demand and expect a more digitally-in-tune industry.
  Inter-organizational, inter-functional, and inter-personal linking, through IS networks is reshaping and improving business processes. The use of information networks to access relevant information from databases eliminates duplicate activities, prevents errors, and reduces cycle time to customer responses.

The purpose of business process reengineering is to provide better client services more efficiently, and to provide better financial performance for the enterprise. As a business owner in this new business environment you must ask what is preventing your organization from having an actionable vision and strategic plan to drive the necessary changes. The Innovative Solutions team has the facilitation and project management skills to guide the fundamental rethinking of your business and operations model and the redesign of your business processes to meet the demands of today’s business environment.<<

Perhaps the most important and daunting task facing today’s real estate leader is the decision(s) surrounding the adaptation and deployment of technology within their business.>>

In the real estate business, meeting today's competition means using technology wisely. It means formulating a set of consistent strategies, specifying outcomes, and then choosing the right tools and the right partners to make those outcomes reality.>>

SURVIVING CHANGE

Dictionaries use many phrases to define ‘change’. A definitive phrase that seems most applicable to changing markets is ‘to give a completely different form or appearance’. In the face of change some businesses and organizations survive. Others do not. - - Some even prosper.>>