About The Real Estate Group

The Real Estate Group (TREG) "Partners in Excellence"

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.

Being a Professional

This week we will be focusing on chapter 6 in the Swanopel Trends Report. This chapter discusses the differences between professionalism and being a professional. Is there a difference and what are their distinctions?

The term “professional” has varied throughout the years. Those individuals who held a position in any profession (Flight attendant, preacher, nurse etc.) could call themselves a professional.

After World War II, war vets returned home and a new type of professional entered the workforce. The GI Bill provided them education and a living allowance during training. The former soldiers were a type of working professional that had a type of experience and training that made them indispensible to that era’s current job market.

The real estate industry in itself was made a profession by way of real estate agents themselves. The “dirt peddlers” , as they were sometimes called, that had gone to war wee now returning to an entirely new business model of approach in way of real estate as the country had entered a boom economically and demographically. Thus known as the “Baby Boomer Generation

The downward trajectory of professionalism began in the mid-70’s a gradually declined into the 90’s. The lines between business and ethics began to become increasingly blurred as Generation X and Y deemed them largely irrelevant, and the demeanor of professionals were more or less motivated by self-interest. The repercussion of excessive economical abundance had given way to an expectation unprecedented seen in the healthcare system in particular. More and more the need for particular services and lack thereof could be traced to the expectations for a certain quality of life.

So, what has kept the real estate industry avoiding this downward spiral while other professions have taken a turn for the worst? There are a few factors that have contributed to the real estate industry’s steadiness.

  1. Brokerages have tended to shy away from being diverted from or influenced against their franchises own business model
  2. Few brokers have industry or business related studies.
  3. Between 1992 and 2005 the real estate industry was thriving in the economical boom. Even during the seven years of decline that followed, the industry had little time or resources to drastically change its procedures. This left the real estate industry surviving two decades without critical change to its practices.

In conclusion, there are several business model attributes that contribute to a successful and profitable real estate industry:

  • Automated transaction management systems
  • Standards of practice
  • Verified universal accountability
  • Defined customer experience
  • Utilization of metrics and benchmarking
  • Competitive and differentiation – based strategic management

For a full copy of The Swanepoel TRENDS Report, visit www.retrends.com

 

About The Real Estate Group

The Real Estate Group (TREG) "Partners in Excellence"

The mission of The Real Estate Group, LLC is to be Hampton Roads finest provider of real estate services. Our goal is to create a company that provides absolutely the best service for our customers by fostering an environment of teamwork and a common vision. The Real Estate Group, LLC consists of an accomplished team of skilled professionals who take pride in their work and their company. We work hard to go beyond the expectations of our customers, agents, and employees.