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Convergence: Driving Positive Energy and Outcomes From Knowledgeable Leadership

convergence conwayConvergence is the term applied to what happens when two significantly powerful real estate industry forces come together in a defined space and create a new energy or reality. A coupling or convergence process might be coincidental, such as the current convergence between the forces of consumer centricity and the fast growing emphasis on brokerage profitability.

In the alternative, convergence can be purposeful, such as the recent announcement of News Corp's purchase of Move, Inc. Either way, moving forward, convergence will be one of the most powerful dynamics impacting our industry.

The origins of any specific convergence really won't matter to the average reader as much as its ramifications and impact. Predicting a probable convergence event represents a specific skill set. Monitoring the industry universe for possible convergence events should be on every leader and decision maker's "top 5" list. It is essential that visioning and anticipating how potential convergence events might affect the industry, the marketplace and the transaction occupy an ever-greater share of every industry leader's time and energy.

Such were the circumstances in Southeast Texas earlier this month. During the course of the week two dominant regional events, the Large Brokerage Summit and the Strategic Leadership Conference presented substantial evidence that a convergence event was about to occur. In this case it was the convergence between the activities of the Consumer Financial Protection Bureau (CFPB) and the increasing need for brokers to gain control of their businesses in the face of increased regulation, consumer power and ROI issues.

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