By George White, RE/MAX Times Online Sr. Managing Editor
Watch the Opening General Session on-demand via the Learn tab on Mainstreet.
Although foreclosures remain a serious problem, a U.S. real estate recovery could happen more quickly than most economists predict, Dave Liniger told over 5,000 attendees at the RE/MAX R4 Opening General Session in Las Vegas Monday afternoon.
Citing pent-up demand and key indicators in retail sales, consumer confidence, productivity and more, Liniger said U.S. housing may finally be "coming around" after the worst downturn in decades. And a U.S. rebound would in turn improve real estate conditions around the world, he added.
That's good news for a network with a presence in more than 80 countries, 57 of which are represented at R4 this week. And while Liniger's address was more realistic than rosy – he said, for instance, that the industry is "less than halfway through the distressed property problem" – the audience appreciated his candor and honesty.
"Dave knows the business and he tells the truth about what he sees. We don't want or need him to sugarcoat it," said Kelly Cooksey, Broker/Owner of RE/MAX Quality Real Estate in Laramie, Wyo., who was attending her first RE/MAX convention. "I can't imagine being out there in this market without the brand behind me."
In addition to his economic analysis, Liniger covered a wide variety of competitive advantages, from technology to training to lead generation, in his hour-long presentation. Framing his thoughts in the context of R4 – Revolutionize, Recharge, Rethink and Reward – the chairman reminded the crowd that innovation has always been part of the RE/MAX way.
"In 1973, when the RE/MAX model came into existence, we literally revolutionized the industry," Liniger said. "And every significant change that's occurred in real estate in the past 38 years has either been adapted by, pushed by, or created by RE/MAX Sales Associates."
With technology, social media and other major forces changing the way people communicate, conduct business and live their lives, real estate agents simply must be able to adjust their methods and services accordingly, he said.
"We have to deliver what consumers want, when they want it and how they want it," Liniger said, referencing major RE/MAX innovations in Canada that have transformed the buyer experience through smart phones, QR codes, video and more. "We need to rethink who our customers are, and concentrate on being knowledge brokers."
As part of that effort, Liniger revealed that early-stage work has begun on a massive redesign of the remax.com website. The end result, planned for late 2011, will be a site that combines the best search technology, lightning-quick speed, a focus on consumers and an unprecedented lead generation system. He said the project would make remax.com, already the No. 1 traditional real estate site, significantly better.
Liniger also updated the audience on the ongoing efforts to connect trained RE/MAX agents with distressed homeowners facing foreclosure. In the latest initiative, the CitiMortgage Short Sale Program, 40,000 properties (with another 20,000 confirmed this week) have been identified as viable Short Sale candidates with few or no encumbrances. Homeowners receive direct correspondence from Citi about their Short Sale options, which include the names of three qualified RE/MAX Associates in the area. The next move is up to the homeowner.
The program could grow dramatically over time, and several similar arrangements are being coordinated with other major lenders. The Citi program, as well as any others that follow, is possible only because of the widespread commitment RE/MAX Associates have shown to distressed property education, Liniger noted. To boost that edge even more, he announced a special discounted $299 price, arranged through RE/MAX University and the Certified Distressed Property Institute, on CDPE classes through April.
Other Opening General Session highlights:
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Liniger showed two more "Why RE/MAX Viral Videos" that complement a series produced by RE/MAX Affiliate Brad McWaters last year. The videos, "RE/MAX is Wack" and "Disappearing Agent," are available and shareable via YouTube and the Design Center.
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RE/MAX Co-Founder Gail Liniger recognized RE/MAX pioneers who've been with the network for more than 20 years, and encouraged other attendees to seek out these leaders during the four days of R4.
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A short video highlighted some interesting RE/MAX statistics:
-27 percent of Associates are bilingual.
-53 percent of Associates are Gen X and 17.5 percent are Gen Y.
-Associates averaged 13.8 transaction sides last year, 89 percent more than the closest competitor.
-The network closed more than 1.2 million sides in 2010, for a sales volume exceeding $265 billion.
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Margaret Kelly ended the session with a fascinating presentation featuring three Associate video profiles shot in Canada, Australia and the U.S. The clips focused on relationships the agents have with particular clients, and Kelly spoke to all three Associates live in the audience as well.
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Kelly also surprised Kevin Corcoran, Broker/Owner of RE/MAX of Gulf Shores in Alabama, recognizing him for his efforts in securing compensation funding for Gulf States Realtors whose local markets were negatively impacted by the BP oil spill.
After the two-hour program – the first ever held in the afternoon, rather than the morning – the crowd moved down the hall to the Appreciation Reception. The Opening Session had clearly set a tone for the convention.
"I loved it," Faye Johnson, a Broker Associate with RE/MAX Executive in Millersville, Md., said of the Opening Session. "I truly appreciate what Dave and the other leaders do for us as agents. I know of no other company that offers the kinds of tools we have. We just have to use them.
"This is my third or fourth convention, and with the market down, I had to weigh the cost of coming this year. But with all that's offered and all I get out of it, I realized I couldn't afford not to come. I think you owe it to your clients to learn all you can to help them. And that's why I'm here."
Here's a short recap video of Day 1 at RE/MAX R4, which ends on Thursday.
Complete RE/MAX R4 Coverage
For more updates, photos and videos from the convention, visit the RE/MAX R4 Special Report page.
Visit the RE/MAX Facebook page and the RE/MAX Twitter page (using hashtag #rmxR4) to get and share photos, videos, updates and more right from Las Vegas. You also can post pictures and updates on the RE/MAX Events Facebook page.
Also, download the new RE/MAX R4 Mobile App, an application for smart phones (iPhone, BlackBerry and Android) that delivers real-time convention information to the palm of your hand. The R4 App has been a huge hit at convention.