Craig Cheatham brings close to two decades of successful real estate organization management experience to his service at The Realty Alliance. Cheatham most recently served as CEO for ARELLO, the international federation of real estate regulatory agencies, and before that at a state chapter of the National Association of Realtors. He holds an MBA from Samford University and a bachelor's degree from Harding University. Cheatham also holds an inactive real estate license.
The Realty Alliance Board of Directors selected Cheatham as President/CEO to coordinate the operations of The Realty Alliance - an organization which currently consists of 66 residential real estate companies in the United States and Canada.
The recent red-hot market pulled in investors from every corner, much like the most recent stock market surge, so there are more players involved and they’re much more deeply vested than just a handful of years ago. The battle continues for eyeballs and leads and thus previously unheard of technology players have sensed an opportunity to get in the game and are now viewed as major players. The majority of new residences being built now fall under the governance of a non-governmental authority that has as much or more relevant power (homeowners’ associations, community associations, condominium boards, etc.). New construction is becoming highly favored over existing homes. Consumers better understand the concept of agency and want representation.
Financial, technology and media interests that are now dipping into the lead capturing function. Those offering expertise and service closest to the customer may no longer have as much say in the process and in their compensation.
Children of the tech age who bring to the industry their comfort level and expertise with hardware and software and do not bring any “baggage” of habit and experience with how things always have been done in real estate. Their perspective on the world is one without limitation, and they expect the transaction involving the transfer of property ownership to be obstacle free. When they discover the limitations in the current process, they develop new systems and launch new web sites and circumvent the establishment.
Information should be free and readily accessible anonymously. Real estate practitioners must prove their value by making sense of the mountains of data in a consulting role. Property values generally go up, but it isn’t automatic anymore. Commissions should be more negotiable. These are consumer perceptions and expectations, whether fully realistic or informed or not.
Do an honest assessment of the purpose and consumer of multiple listing systems, give brokers the market data they need to provide expert guidance to customers, spread the word on the value of practitioners and give accurate economic data to each community.
Expand the range of available services to piece margins from several areas together for a greater profit. Reduce print advertising spending for the average properties and use print to reinforce the brand and to point consumers to the wealth of useful information and tools on the web. Re-visit business models to ensure the approach and services will match the desires of the emerging base. Invest in previous customer and client relationships.
Creating greater efficiencies and standards and focus programs on removing costly and time-consuming steps in the transaction. Push for revision of regulations that fail a cost-benefit analysis. Remind the public of the value of practitioner expertise.
Our future focus will remain constant communication among mega-firms that will advance practices that move the industry forward. Technology will be a new area in which we will lead the industry.
Never lose track of who you are and whom you serve. Review the appropriate roles for brokerages, practitioners, MLSs and associations. Review your jurisdictional boundaries to ensure they still make sense. Work in alliance instead of protecting turf. Don’t “play office”: Produce results. Scrap the politics.
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