Factoid: 70% of the over 1.1 million REALTORS® in the USA make less than $12,000/year.

Last week I attend the Tennessee Association of REALTORS® annual Convention in Chattanooga.

None of the national speakers/trainers I attended, including RealTrends boss, Steve Murray mentioned social media.

Per Murray: It is in the best interest of real estate companies, owners and brokers to keep the real estate licensing standards low (It is much harder to become a licensed hairdresser in Tennessee than to get a real estate license). DOJ has also stepped in to keep entry standards low. Only the consumer can demand higher standards in the real estate industry.

The modern real estate consumer is more likely to believe data she finds on the internet that the agent who is telling her “this is the best time to buy” and is more likely to have researched at a number of online sources.

I wasn’t made aware of any new earth shaking trends in the way we do the real estate business here in Tennessee, and, hearing the legal issues presentation, it also not likely that we will see any business plans like Redfin in the near future.

Ask your REALTOR if he/she Tweets, has a Facebook or LinkedIn presence, or knows what RSS stands for.