Earlier this spring, The D.A.N.G.E.R. Report author Stefan Swanepoel made his way to Ottawa for the second consecutive year to lead a day of discussions on everything from the next generation of home buyers to examining the future of boards and associations.
With the help of subject-matter experts, REALTORS® from across Canada received a look into the future of technology and its impact on the real estate industry. With people now at a higher margin of error than machines, Swanepoel touched on a number of revolutionary technologies he believes will shake up the real estate industry in the not-too-distant future. Some of the top emerging trends like artificial intelligence, motion fusion, augmented virtual reality, machine learning, nanotechnology and personal digital assistants made the list. You can also learn more about these new feats of technology by watching the shared videos here.
Missed the big event? Not to worry, we’ve compiled a highlight reel:
In one of the most popular sessions, panelists Tim Hudak, CEO of the Ontario Real Estate Association (OREA) and Robert Laing, CEO of the British Columbia Real Estate Association (BCREA), discussed the questionable business practices that made headlines in 2016. Hudak and Laing focused on the REALTOR® Code of Ethics and how REALTORS® can and should continue to press for higher standards of professionalism.
Montreal Real Estate Board CEO Eric Charbonneau and Calgary Real Estate Board (CREB) CEO Alan Tennant discussed their for-profit subsidiaries and how the REALTOR® association community can successfully operate for-profit models. Ultimately, when it comes to real estate, one size does not fit all but members should always be the top priority.
Real estate blogger Rob Hahn touched on a list of the biggest strategic mistakes the REALTOR® association community can make and offered a controversial alternative to the future existence of MLS® Systems. He suggested that MLS® Systems and the REALTOR® association community are fundamentally at conflict and should be kept separate from each other so they can better focus on serving their constituents.
Abacus Data CEO David Coletto looked at home buyer demographics, specifically the difference between Generation X and millennials. Coletto said millennials will face a rougher economic environment, have a higher debt load and stay single longer. He added the most dangerous assumption to make is millennial triumphalism – or, thinking millennials have blinders on to the world around them.
With the Asian home buying market continuing to grow, I was fortunate to dive into an examination of best practices for selling to foreign buyers with fellow experts Doug Gorrie, Account Executive at Sheng Li Digital and Donna Sun, Broker at Royal LePage. Our focus was delivering a better understanding of the Chinese home buyer, their needs and wants, how and where to reach them, and how to build real, long-term relationships.
Ending the Summit, the leaders of Canada’s largest residential real estate companies – Elton Ash, Regional Executive Vice President of RE/MAX), Martin Charlwood, CEO of Century 21 Canada and Phil Soper, CEO of Royal LePage –tackled tough questions on succeeding in a rapidly-changing real estate environment and technologies to keep their sales associates at the cutting edge of the market. In the end, the panel agreed, REALTORS® looking for success should “stick to your knitting.” In other words, stick to what you know best. Don’t let new technology and changing markets change how you do business but instead, let them enhance your strategies.
Once again, our thanks to Stefan Swanepoel – and everyone who presented and attended – for another great event. Were you there? Share your favourite takeaways in the Comments section below.