PCMS Consulting

Is It Time To Re-Invent Our Real Estate Business?

So, I was reading an article from Warren Buffet (YouTube) today regarding his thoughts on the current financial condition of the world.  One of the observations he made was, “Only when the tide goes out do you discover who’s been swimming naked.”  He made a further comment, “The tide went out a couple of years ago. It still has not come back; many of you are “naked”; and it is time to get proactive with reinventing your businesses – immediately.”

Jose Perez is the president of PCMS Consulting.  He made similar comments today in RISMEDIA.  Mr. Perez made a great point that most in the real estate industry are not being proactive.  Mr. Perez said, “Brokers and Realtors are so concerned with their survival that they can’t see beyond tomorrow or next week. Unfortunately, that’s just not going to work anymore in our real estate industry if it is going to be successful in the new and completely different environment that is the new reality for our industry.”  Mr. Perez suggested that we look at three examples of industries that made decisions to do nothing but continue what they had done in the past; the U.S. auto industry; Print media; and the Travel industry.  He asked in the article if we could see any similarities between the real estate industry today and where those industries were at their seminal moments 10 or 15 years ago?  GM and Chrysler are in bankruptcy, print media is suffering and will soon be extinct,  and who of you still use a travel agent? Read more