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What’s in the Residential Crystal Ball?
Gregory Scott of Beazley Co., Realtors is the newly installed president of the Greater New Haven Association of Realtors. He is also a member of the executive committee of the Connecticut Association of Realtors, where he serves as vice president of legislative and legal affairs.
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Business New Haven
2/21/2000
By: Priscilla Searles
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What does the Greater New Haven Association of Realtors do?
They were incorporated in 1915 and are now the second-largest association in the state, with a membership of approximately 1,400 Realtors covering 13 towns. A person can have a real estate license and sell, but that doesn't mean they are a Realtor with a capital R, which is a trademark name.
What is the group's function?
Our organization operates under a national code of ethics, which was first developed in 1913. It binds us together: the ethical obligations, moral integrity and competent service to clients and customers that is in the best interest and welfare of the public. In short, that trademark is consumer protection. As to what we do, that has changed over the years. In the early days, agents used to get together and exchange listing cards one-to-one - a pretty unsophisticated multiple listing service. Things began to change about 20 years ago when the computer came into the picture. [Sharing] multiple listings became a little easier.
How has it changed?
With the [advent] of the Internet and other new technology, we have access to a lot of information that we didn't have five years ago, [including] access to multiple listings. But so do the consumers. We're providing a different service than five or ten years ago, trying to keep abreast of technical changes, providing more education and training.
What are some of the challenges you face?
We have to keep informed as to what direction our industry is going and continue to provide training and education. For example 'dot.com' has come into the industry, and our members have to understand the impact of that. We have to be able transform the association into one that can help our members deal with new technology, rather than just looking at MLS as in past. We have changing business models; we need to deal with how it impacts on our members and how to help them make the needed transitions. And there are questions: Are we going to be providing e-commerce service? Should we be looking at e-commerce as a way of doing business? Maybe, and maybe not - but you can't ignore it. It's a constant evolution. No one really likes change, but as leaders we have to bring the new technology to our members. Whether they like it or not, we still have to provide them with the information. We also have to work closely with state to fight for private property-owners' rights.
How do you see the residential market now, and what trends do you see for the future?
In terms of economics, we finished 1999 very strong, and indications are that the market will continue to be healthy into 2000. The overall economy is solid and demand continues to be strong. But I think it will move at a more reasonable pace, unlike what we saw in the mid-'80s. I also believe that once the high-speed [New York-Boston] train goes through, values along the route will go up. It will make the trip to New York much more attractive. Prices in this area are more reasonable than Fairfield County or Westchester; we're a more affordable alternative. But the train will drive the prices up a little in our area, and that's good.
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