Real Estate Magazine - Highlands Sotheby's International Realty - July 2021

Page 74

TRENDS & ISSUES ideas around what America could and should be: a capitalist society with individual, inalienable rights. It was grandiose by any stretch of the imagination. So, what is the parallel now—and what can we learn from our nation’s humble beginnings? 1. It is unwise to underestimate the social experience connected to economic situations, whether booming or busting. 2. Great ideas are seldom comfortable, initially misunderstood and rarely considered “sensible.”

Was Real Estate the Real Cause of the American Revolution? Commentary by Frank Chimento

F

or centuries, historians have debated whether the American Revolution was driven more by ideas or economics. I’m fully in the “ideas” camp, but it would be disingenuous to believe that an economic crisis doesn’t lead to grandiose ideas. Currently, real estate prices are climbing at unprecedented rates. More companies are focusing on consumer experiences and behavior than ever before. We’re experiencing record-low mortgage rates and loose credit standards, but as was the case in 1762, something isn’t right. What happens if the other shoe drops? What are the grandiose ideas that will survive the times, win the day and lead the future, nevermind the revolution? In 2008, Tim Arango wrote an article comparing the housing bubbles of that time with the American Revolution. He explains that Benjamin Franklin, upon returning to America after five years in London, was stunned by the 3x rise in real estate prices. The 72 July 2021 RISMedia’s REAL ESTATE

argument was that some historians believe the Revolution was sparked by a boom-bust economic cycle not unlike what many are experiencing and/or predicting now. Understand that people were living lavishly after the French and Indian War. Shortly thereafter, credit tightened, money stopped flowing so freely, people lost their homes and land for failure to pay, the colonies’ population was growing much faster than in Britain, and housing that was once affordable was now inflating. Then, the British enacted the Stamp Act, which is widely considered the “trigger” for revolution. Still, the prevailing thought was that “a confluence of nasty economic circumstances” gave way to grandiose

3. Americans are resilient and determined. Historically, every event that created economic instability or uncertainty gave rise to grandiose ideas, innovations, efficiencies, growth and progress. As real estate professionals, there has never been a better time to engage with your relationships, spheres of influence, databases and people you can create a “fence” around for the purpose of future growth. Now is the time to plan for additional revenue stream opportunities by thinking beyond mortgage, title, warranty and insurance partnerships. Learn more about how we at MooveGuru help agents and brokerages, absolutely free, maintain better relationships and create better social and transactional experiences while providing new revenue streams that serve a brokerage’s agents and customers. MooveGuru is proud to be an American company working toward innovative ideas to help agents help their customers achieve the American Dream. RE Frank Chimento is executive vice president of Revenue and Business Development at MooveGuru and has been helping agents and brokerages for more than 20 years.


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Articles inside

RE: Real Estate—The REACH

3min
pages 106-108

Service Profiles

43min
pages 94-105

Verl Workman – Hey, Alexa

2min
pages 92-93

Power Team Profile – High

4min
pages 90-91

Christian Barnes, Better Homes

11min
pages 86-89

Kurt Schuler, Schuler Bauer Real Estate ERA Powered

2min
page 85

Verl Workman – Empower

2min
page 82

Matt Farrell, Corcoran Urban Real Estate

2min
page 83

Cameron Keegan, RE/MAX

2min
page 84

Employment Trends Index Increases in May

2min
page 81

Realtor.com®: Listings Down Inventory Up

1min
pages 78-80

Laura Croll – Helping, Having Fun, Growing and Making Money

2min
page 77

Dan Steward – New

2min
page 76

Frank Chimento – Was Real

2min
pages 74-75

Ashley Bowers – Expect More

2min
page 72

Allen Alishahi – Consumers Are

2min
page 73

Michael Minard – Tech

2min
page 71

Olivia Mariani – How to

2min
pages 69-70

Dave Karoly – The Most

2min
page 68

Adam Long – Don’t Skip the Home Inspection!

2min
page 67

Sue Yannaccone – Defining

2min
page 66

Daniel Ramsey – The Current

2min
page 65

Customizing the Client Experience From Beginning to End

4min
pages 62-64

Rebound in Sight for Urban Rental Market, Experts Say

4min
pages 56-57

Powerful Tech Tools That Give REALTORS® a Competitive Edge

3min
pages 54-55

Transcending the Barriers Between Real Estate and Mortgage

4min
pages 52-53

Real Estate Webmasters

3min
pages 44-45

Reshaping Franchising for the Future

13min
pages 46-51

HSASM Home Warranty

3min
pages 41-43

Terri Murphy – Are You

2min
page 34

Verl Workman – Are You

2min
pages 35-36

The Experts at McKissock

2min
pages 37-38

Cinch Home Services: Going

3min
page 39

Homes.com: A Support System for Success

2min
page 40

Sherri Johnson – How to

2min
page 32

Darryl Davis – When the Listing Appointment Doesn’t Go Your Way

2min
page 33

Buffini & Company – Building

2min
page 31

Women in Real Estate: Christy

2min
pages 16-18

Great Spaces

1min
pages 21-22

Policy & Legal Matters

2min
page 23

REBAC Report: Boosting Your Agents’ Success With Buyers

3min
pages 24-27

From the Publisher

4min
pages 9-12

Power Broker Perspectives

3min
pages 28-30

Marketwatch

1min
page 13

NAR Power Broker Roundtable

3min
pages 14-15
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