2024 Election Results: What They Mean for Your Real Estate Business

The meeting, led by Edmund Bogen, focused on analyzing the potential impact of the 2024 election results on real estate business operations while maintaining a strictly non-partisan, professional approach. Key discussions included market reactions to election results, client behaviors pre and post-election, commission structure changes, and adapting to technological innovations in the industry. Edmund emphasized the importance of maintaining professional relationships regardless of political views and focusing on business opportunities rather than political differences. The session also touched on interest rates, emerging AI technologies, and the importance of adapting to industry changes.

Key Takeaways:
- Many clients were waiting for election results before making real estate decisions, creating pent-up activity
- Interest rates are expected to decrease in the foreseeable future
- Politics should remain separate from business relationships to maximize opportunities
- Local politics often have more immediate impact on real estate than national politics
- Technology adoption (AI, automation) will be crucial for survival in the evolving real estate landscape
- Commission structure changes and Department of Justice oversight remain important industry concerns
- Market conditions are shifting, with longer listing times and price reduction needs
- Client relationships should be maintained regardless of political affiliations

Actionable Recommendations:
1. Follow up with clients who were waiting for election results
2. Implement consistent networking strategies (e.g., Terry's coffee meetup approach)
3. Focus on local political impacts that directly affect real estate
4. Adapt to new technologies like AI and automated services
5. Maintain professional relationships regardless of political views
6. Review and nurture relationships with past lead sources
7. Consider implementing the "CMA a day" strategy
8. Stay informed about commission structure changes
9. Practice the "law of CRAP" (Capture, Reward, Automate, Plan)
10. Focus on building and maintaining client relationships through consistent outreach

The meeting emphasized the importance of adapting to change while maintaining professional standards and client relationships, regardless of political climate or technological disruption.

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