From Inman News Features
If she were so inclined, National Association of Realtors 2003 President Cathy
Whatley might have midnight worries about all sorts of things—even the economic impact of the “war on terrorism,” the European Union’s stance on consumer data privacy and requirements for money laundering disclosures.
For more, consider this “watch list” of worries created the trade group’s strategic planning gurus:
Technology
— Intellectual property rights, data mining
— Internet privacy, consumer data privacy in U.S., Europe
— Standards development, competing transaction standards, XML language, interoperability of platforms
— Electronic data display issues related to policies for Internet Data Exchange (IDX) and virtual office Web sites
— Changing legal liabilities, marketing on the Internet, government regulation of e-commerce, data usage ethics
Economics/Market Demographics:
— Impact of government revenue needs on availability of capital
— Interest rate changes
— Economic impact of war on terrorism
Transaction
Structure:
— New entrants into real estate industry, nontraditional competitors, data aggregators
— Restructuring of transactions
— Business practices of on-line referral companies
— Agency issues, single license, mandatory single agency, threats to disclosed dual agency
— Intervention of e-loan providers in transaction
Business Model/
Consumer Research:
— Consumer behavior and preferences in Internet purchases involving complex transactions, trends in disintermediation
— Emerging business practices and models, business lines, ancillary services
— Acquisition and merger trends
Legislative/
Regulatory:
— Tax reform, Internet taxation issues
— Land use, anti-growth legislation, impact on affordable housing.
— Barriers to housing opportunities and affordability
— Reform of the federal Real Estate Settlement Procedures Act.
— Antitrust issues/Federal Trade Commission action in regard to Internet business-to-business marketplace
— Campaign finance reform, hard and soft dollar contributions
— Threat of banks getting into the real estate business
— Affordable and available commercial and residential property casualty insurance and terrorism reinsurance
— Threats to private property rights
— Internal Revenue Service money laundering disclosure requirements
— Immigration Naturalization Service immigration reporting requirements and foreign property owners’ access to properties
— Emerging environmental threats, e.g. mold
— Sustainable growth initiatives
— Judicial decisions regarding business owner liability for agent violation of fair housing laws
— Tracking state/local political candidates’ voting record on smart growth and restrictive environmental issues
Globalization:
— Standards for international business and referral systems
— Diversity outreach, impact of immigration on property ownership
— Opportunities to provide assistance in development of organized real estate markets in emerging economies to encourage private investment, home ownership and economic development