We are in an era that is certainly changing business for all of us. Today’s dynamic real estate market spotlights how vital it is that we embrace this “new normal” and create from it opportunity. In residential real estate, it has become clear that the successful real estate agents are the individuals who seek this opportunity, particularly now when short sales and REOs have become commonplace. Real estate agents have had to expand their knowledge and adapt their business to the changing times. As a brokerage, we have addressed this “new normal” head-on by making relevant education available to our Executives (real estate agents), as well as investing in a technology initiative that plans out to 2020. We formally launched our initiative at the National Association of REALTORS® Convention in November and it is a game changer for our Executives.
This attitude is what we, as Arizonans, are known for and what will be key to our recovery.
In this December issue of In Business Magazine, Alison Stanton takes on this “real estate crunch” by looking at the effect that real estate, both residential and commercial, has had on business and our local economy. Her article looks at how we are a business community of innovators. What started out as a financial crisis evolved to real estate, and will effectively build opportunity for businesspeople within the Valley.
Sue Kern-Fleischer’s perceptive story on tourism reveals opportunities for businesses in the Valley and throughout Arizona. The effects of SB 1070, the economic downturn and even 9/11 are all factors that are leading us through tough times to bigger and what appears to be a great future for our tourism marketplace. Strong tourism for Arizona helps fund critical programs, such as education, making a positive impact on our state budget and overall economic recovery.
In Business Magazine is meant to be a truly hands-on business publication for and about businesspeople here in the Valley. To that end, stories on “Achieve Success and Avoid Risk,” by attorney Paul Krulisky; “Fuel Growth: Customer Feedback Will Build Your Business,” by Kern-Fleischer; and “Employee Empowerment: Engage Them or Lose Them,” by In Business Magazine editor RaeAnne Marsh, offer great insight to those vested in business.
We believe in embracing change to find great opportunity. Enjoy this issue.
Rich A. Rector
Owner & Executive Chairman
Realty Executives Phoenix
Rich A. Rector is president of Realty Executives International, one of the fastest-growing real estate franchises in the United States. The Phoenix-based firm has offices in 14 countries.