William Malkasian joined the Wisconsin REALTORS® Association in 1975 as its Legislative Director and was promoted to President in 1978 a position he has held for nearly 25 years. He is responsible for overseeing the professional staff of the 12,000 member statewide REALTOR® trade association based in Madison, Wisconsin. In addition, Bill serves as Treasurer for the Wisconsin REALTORS® Educational Foundation and Secretary/Treasurer of the On Common Ground Land Use Foundation. Bill also represents the association as a director with the Wisconsin Environmental Initiative.
Bill has actively represented the Wisconsin REALTORS® Association on a national level by serving on numerous committees and task forces. He has served on and chaired the REALTORS® Political Action Committee, Legislative Committee, Strategic Planning Committee and most recently, Vice-chaired the National Association of REALTORS® Task Force on Smart Growth. Within Wisconsin, Bill has served at the Governors invitation on the Telecommunications Task - Force reviewing Wisconsin's communications infrastructure - and the Governor's Blue Ribbon Commission on Jobs for the 21st Century. Most recently, he was appointed to serve on the Wisconsin Legislative Council Study Committee on Land Use. Within the city of Madison, Bill has chaired the Madison Central YMCA Board and the Dane County Housing Authority. He has also been President of the Madison Club.
Bill holds a bachelor's degree in political science from the University of Wisconsin and completed a six-year association education program and management designation sponsored at Notre Dame University by the U.S. Chamber of Commerce. He has also attained, for over 20 years, the designation CAE which stands for Certified Association Executive.
In 2001 he received the William R. Magel Award of Excellence given by the National Association of REALTORS® from his 1,200 peers in the Association management community. Only 14 other individuals have been awarded this prestigious award.
Bill has traveled all over the country and most recently internationally as an expert in the field of association and public policy management.
As an "industry visionary", what do you see as the major changes occurring in the real estate industry?
Consolidation,agent productivity by less people and computerization of the transaction are rapid changes within the real estate industry. The industry is becoming a large and niche business with lighting speed. Empowering the consumer with greater information has also changed the role of the agent within the transaction. Buyer Brokerage has also taken on a new major role.
What major "corporate players" are driving change and what may be their impact?
Obviously NRT and other large Franchise groups have change plans for the industry. I think the financial services industy will also impact our business. As Government recognizes the concept of one stop shopping the merger of the traditional concepts of mortgage, brokerage and insurance will come closer together. Techno companies have an impact through developing new consumer attitudes towards real estate buying and selling.
Who are the "individual trendsetters" that are shaping the future real estate industry?
The industry has leaders like Richard Mendenhall, Bill Chee and others within its ranks who have forced the major players to rethink their business roles. I think people like Harley Rhouda Jr and the Ron Peltiers of the world have very specific ideas of where to move their companies. The short answer is that many of the brokers in their late 50's and 60's want out. A new wave of broker manager with much greater business experience is emerging.
What are the expectations of the emerging real estate consumer?
The expectations are simple. Make this process easy, worry-free and dont waste my time. The new consumer has already shopped on the internet but still wants to touch the "bricks". I don't buy this look at the picture and go to the closing routine. The bottom-line expectations include better service and follow-up. The customer for life idea isn't that new to other industries but it's new to us. The consumer today wants an email returned and someone who really can walk them through the transaction and hold their hand. I think today the Realtor needs to learn counseling more then ever.
How should the Brokerage and Realtor Association / MLS respond to these real estate consumer expectations?
Though difficult for some...each of these groups need to formulate what they stand for more clearing. What is the role of broker, agent, association and MLS? The concept of better broker supervision is lacking in many areas of the country. The associations need to refine their mission to be very specific on limited services. The MLS will be more of an information exchange with data being used differently by different brands of brokers in the marketplace. I see the association and MLS business to be information based and the brokers using it in the manner which works the best for their office. Figure it this way..no more one size fits all anymore.
What changes should a Brokerage implement to ensure profitability in the future?
There are too many hands in the pot to close the transaction. Companies need to automate as much of the transaction as possible. The consumer needs to be allowed into the secret of the deal! As offices expand license laws need to be amended to allow better automated consolidation of services without duplication of human intervention. Intranets today can substitute for additional bodies in an office. I think you will see more of a cooperative concept within smaller offices as they find ways to share services without violating competitive branding.
What role do you see the Realtor Association / MLS playing to ensure Broker profitability?
Consolidate services at all levels of the organization. We don't need to have 3 levels of the same product. You can keep the organizations if that works for the Realtor but finding ways to maximize the service to the companies is the key for survival. Most agents or brokers don't care who gives them the product as long as its delivered in a timely and efficient service.
Based upon your vision of the future of the real estate industry, what are you doing to help influence positive change?
Our biggest change was our governance. We have a board of directors today which is company based. We have the 10 largest companies on our board. Its has changed the way we approach everything we do. It keeps us out of the business of creating products that the companies don't want.
What books would you recommend as a "must read" that have influenced your
vision?
I own a 120 acre hobby farm in SW Wisconsin. I ride the tractor every weekend and cut trails and wood. My books of interest are nature based about the evolution of the environmental movements in Wisconsin. People like Aldo Leapold and the Sand County Almanac who have taught me that simple ideas can produce simple solutions to problems.
What advice would you give Brokerages and Realtor Associations / MLSs to assure they stay relevant and successful in the future?
We went through some stormy times in the late 1990's. Everyone was attempting to rewrite the standards of the industry. If there was a new business model it was going to destroy everyone else. My advice would be to reevaluate what you do well and stick with it. Modify ONLY what you think needs tinkering. I don't believe that this generation of Realtors and Association people are ready for the sea of change that everyone predicts. ITs like going to a new country and the population needs a generation or two for real change to set in. My advice is move in simple small steps and listen to the consumer. There is a difference between what they say and what they really want. You provide a good service in any business and people will buy it at any cost. Cut the gimmicks and stick to basic core service models and the Realtor will be around for a long time.
