It’s a busy time despite market conditions, as progressive brokerages work to re-tool for the future. Here’s the take of new President and Chief Operating Officer Dave Stevens of Long & Foster, the third largest brokerage in the country:

What do you think will be the key real estate trends in 2009-2012, and how are you preparing for them?

We believe that 2009 will start off trending down with sales matching the 2008 4th quarter. Towards the latter half of the 2nd quarter, impacts from the stimulus package from the Obama administration and the lower rates will begin to bring buyers into the market. The 2nd half of 2009 will be improved over the 2nd half 2008. Looking forward from 2010 to 2012 we see stable but improving sales propelled by the improving economy, the years of pent-up demand from the recession, and the growth of the echo boom generation. Long and Foster is focused on building the value proposition for the full service real estate firm to the consumer and the agent. We are looking at training in new technology and other skills to help the agent be prepared for the new market ahead.

What “clichés” of traditional real estate practices are holding your company back from taking risks with your sales, marketing or customer service strategies?

There are many traditional practices from ad strategy to consumer approach that are holding us back. The classified advertising vehicle is a dying business and we are looking at new ways to market via the web as an alternative. The full service real estate office with one desk for every agent is a challenge for the future and we are piloting the “office of the future” design to prepare ourselves for a more high tech, dislocated sales force. Finally, communicating through social networks and other new communication vehicles is a challenge for our existing company paradigm.

What have been the best cost-saving measures you have taken?

Although this may not sound overly creative, our most effective moves have been to focus on fees and office consolidations. Fixed overhead is best addressed by looking at redundant locations and over served markets. Addressing fees insures a more predictable stream of revenue to impact the top line.

Posted By:Pam O'Connor