Ever since the introduction of the Internet in real estate in 1995 speculation about a new business model for the real estate market has been rampant.
There was a surge of innovation in the late 1990s touting disintermediation, reduced commissions and a more automated and streamlined transaction by using the Internet. Most of that did not materialize as a result of the now infamous “dotcom” crash of 2000. Most of the new business models at the time disappeared although a few interesting companies made it through to the new century.
Then came Web 2.0 and the flood of innovations caused a second wave of new business models to emerge. This time the focus seems was more about quicker customer services, virtual offices and reduced fees to agents.
NEW BUSINESS MODELS
What we do know for certain is that the real estate business is amidst significant change, and that the traditional model born in the 1960s and 1970s is under severe consumer, Realtor® and technology pressure to reinvent itself. Some franchisors and independents will comply and many will not. During the process many new models will push forward in an attempt to find their new niche and place among the next generation of leading real estate companies.
As always, the Swanepoel team at RealSure continues to track, research and share change with the industry. We are working on detailing in the 2011 edition of the Swanepoel TRENDS Report (publication date February 1st, 2011) a comprehensive study of the Top 10 best new business models started after the introduction of the Internet into our industry.
YOUR HELP
We are of course already aware of the usual suspects but can never be certain as to who should be otherwise included. So we need your help. Feel free to add to the bottom of this post on Facebook, ActiveRain and RealBlogging companies you think we should research or alternatively email us at Trends2011@RealSure.com
For more information on the annual Trends Report visit www.RETrends.com
