At its annual conference in November, NAR released its “Member Profile” for 2007 as well as its “Profile of Home Buyers and Sellers.” These two documents reveal what’s working in the real estate industry today, as well as potential opportunities for savvy real estate professionals to capture more market share.

1. Get rich in a niche.

The NAR study showed that 88 percent of all Realtors earn more than 50 percent of their real estate income for their primary real estate specialty.

2. Don’t rely exclusively on referral strategies.

For individual agents, only 25 percent of their business is based upon referrals compared with 29 percent for residential brokers. These numbers increase with the agent’s longevity. For those with 16 or more years in the business, 41 percent report that more than 50 percent of their business comes from referrals.

3. Respond immediately to consumer inquiries.

Consumers today expect immediate response to their inquiries. The younger they are, the greater this expectation is. Given that the median age for agents is 51 versus 32 for the median age of first-time buyers, there is a considerable gap between how each group communicates. Only 23 percent of the brokers surveyed reported having wireless e-mail.

4. Customize your personal Web site; don’t rely on your broker’s site.

Surprisingly, only 35 percent of all Realtors have a Web site that they developed and maintain. Thirty-nine percent lack a Web site, and 27 percent rely exclusively on their broker’s site. Furthermore, the more money agents spend to maintain their Web site, the more money they earn from it.

5. Earn a NAR designation.

For the most part, the public doesn’t understand the alphabet soup of Realtor designations. Nevertheless, additional training increases your professionalism and differentiates your services from those provided by competitors.

6. Blogging.

Of all the opportunities to distinguish your services from those provided by other brokers in 2008, blogging is probably the best with the least amount of competition at this time. Only 2 percent of the agents “frequently use blogs” compared with 88 percent who “rarely or never use blogs.” Four percent of the survey respondents had blogs. The younger the agents, the more likely they are to have a blog.

7. Podcasting.

This is one of the hottest trends among Gen X and Gen Y, yet very few agents have recognized the potential that podcasting (computer audio broadcasting) has for growing their business. Only 1 percent of the agents report that they regularly use podcasts compared with 94 percent who rarely or never use them.

Only one thing can solve the present financial crisis we find ourselves in, and that is to let the chips fall where they may. Let the free markets do their thing, let the accountability fall where it lies…at the feet of those who have made irresponsible financial decisions that they must be held accountable for. Let all involved learn their lessons, and learn that decisions have consequences, and that risk and reward go hand in hand.

We will never solve problems by ignoring them, failing to account for them or by trying to avoid the consequences of our actions. Borrowers who borrowed more than they could afford should learn that there is a price to be paid for such irresponsibility. Lenders who make loans to people who can’t afford those loans need to understand that there are consequences for such irresponsible business practices. Investors seeking high returns need to understand that high risk follows high reward. All investments look good on paper, but reality can be a very different thing.

Special NRI quota is also provided for various land sales by Government. Special Grants and services are also provided to the NRI population to lure more and more foreign investment. All the leading banks and financial institutions have separate NRI dealing services that cover NRE, NRO bank accounts, housing loans and other home loan related products. You can also refer to the various bank websites to find out further details about the NRI investment procedures and the help available.

1. Assess the entry barriers created by a company.
The entry barrier should be more ‘intellectual’ in character rather than ‘physical’. This is because while it is next to impossible to compete with a strong brand (an intellectual barrier), competitive advantage associated with a piece of land (a physical barrier) disappears when a competitor acquires one as well.

2. Management should be competent and passionate.
Competence or passion alone will not work. An individual with a local degree combined with passion would have greater growth prospects than one who has a Harvard degree but no passion.

3. Management should have integrity.