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In this month’s National Association of REALTORS® Power Broker Roundtable, industry leaders discuss how new business models are shifting the real estate landscape.
Moderator:
Cindy Ariosa, Senior Vice President, Regional Manager, Long & Foster Real Estate, Chantilly, Virginia; Liaison for Large Firms and Industry Relations, National Association of REALTORS®
Panelists:
Rei Mesa, President/CEO, Berkshire Hathaway HomeServices Florida Realty, Sunrise, Florida
Shad Bogany, Broker, Better Homes and Garden Real Estate Gary Greene, Houston, Texas
Greg Zadel, Founder/Managing Broker, Zadel Realty, Firestone, Colorado
Cindy Ariosa: Real estate is an industry that lends itself to change. We have only to look at the year just past, and the adjustments we’ve made to safely manage business in the midst of a global pandemic, to see the truth of that. At the same time, we have a long history of orderly, ethical behavior—a Code of Ethics set down by the National Association of REALTORS® (NAR) more than 100 years ago and emulated by Multiple Listing Services (MLSs) nationwide, that sets the standards of conduct and rules of cooperation by which REALTORS® everywhere must operate. But the past decade has ushered a wave of new entries into the field—discount agencies, third-party portals, new business models using artificial intelligence to shortcut traditional home-buying. How closely will these new players adhere to these ethical standards—and how do we maintain our prominence in competition with those who may or may not?