Denver Real Estate Blog

Many Real Estate Pros Look for Exits – Changes are Abound for the Industry!

Denver homes With the real estate market collapsing, agents and others across the country are calling it quits or scrambling for new options.

“Clearly, we’re going to have a shakeout in that business,” Jeffery McClintock managing broker and owner of Real Estate Technology Group, Inc, (RETG) which serves Denver’s front range and Summit County Colorado. RETG owns highly acclaimed and award winning RealEstateColorado.Net and SummitCountyMountainProperty.com for over 12 years..

McClintock’s websites has received numerous awards including the prestigious The RE Pure Gold Award is given to LESS than 1% of ALL Realty Web Sites in the Country! The criteria for these awards are based upon Functionality, Visual Presentation, Easy to Maneuver with Superior Excellence in Visual Presentation, Theme, Graphics, Organization Performance and use of Dynamic HTML.

McClintock was invited by Gary Keller, founder and chairman of the board of Keller Williams Realty International to Austin, Texas in 2006 & 2007 to speak to his agents and contribute strategic insights into the future of real estate through his experience in real estate website marketing.

Across the country as in the case in so many real estate markets, the turn-of-the-century boom attracted a record number of new real estate agents. Now the market’s tightening, leaving more real estate agents chasing fewer dollars. “You’re going to have a large number of Realtors chasing a stagnant or shrinking pool.” Says McClintock.

Agents who were either slow at getting on board or who have not embraced technology and developed systems around the internet have short lived careers. Gone are the days of traditional forms are marketing. Most largely due to the fact that an estimated 80% of home buyers and sellers start their home search online. This figure is supported by studies conducted by the National Association of REALTORS. Getting started effectively in the industry now requires much more capital then it once did. Selling homes is not as easy as it once was and with the struggles of the mortgage industry, the growing number many believe it’s a good time to get out.

In Georgia, the Atlanta Business Chronicle recently reports, the sinking market has many real estate agents abandoning ship. The number of real estate agents letting their licenses lapse has grown at a faster rate than the overall number of licenses held. In Minnesota, where a change in state law has contributed to the decline, the number of mortgage originators shrank by 70 percent in six weeks, the Minneapolis/St. Paul Business Journal reports.

For those that remain, the market means they have to be more creative than in the past. There are two reasons homes sell says McClintock, Price and Exposure when considering whether or not to hire a particular Realtor to market your home, consumers need to ask very important questions like Do you have a website?, How does it rank in Google, MSN and Yahoo for the market your home is located in? If their site is not ranked in the top 5, don’t hire them! Plain and simple. For example a home located in Denver, Colorado search Google for Denver Colorado Homes or Denver Colorado Real Estate. Google is the preferred search engine solution by 83% of all on-line users.

With the huge number of people who begin their search on line to find their next home this has become a critical issue especially with the number of markets with many homes lingering on the market.