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Where it all began
It all began in 1704 when the Boston News Letter featured the first-ever printed real estate ad, sparking a new era of property promotion. This groundbreaking advertisement sought a buyer for a property in Oyster Bay, Long Island, setting the stage for centuries of real estate transactions. -
real estate in 1900s pt.1
Fast forward to 1908, a remarkable milestone in the industry’s history marked the founding of the National Association of Realtors (NAR). This influential organization was pivotal in shaping ethical standards and practices in real estate. NAR elevated the industry’s credibility and established a commitment to excellence by ensuring consumer protection and advocating for clients’ best interests. -
real estate in 1900s pt.2
In the vibrant 1910s, creativity and marketing tactics took center stage as open houses and yard signs became popular. In 1913, NAR adopted the Code of Ethics, fostering cooperation among REALTORS to prioritize the well-being of their clients. This ethical foundation became an integral part of the real estate landscape. -
real estate in 1900s pt.3
The year 1916 witnessed a defining moment with the birth of the term “REALTOR.” This distinguished title signified a dedication to upholding ethical standards and providing exceptional service, further solidifying the industry’s professionalism. The transformative 1920s brought about a monumental development in real estate with the emergence of mortgage financing. -
real estate in 1900s pt.4
However, the industry faced a challenging period when the Great Depression struck in 1929. The real estate market collapsed under economic turmoil, casting a shadow over property ownership dreams. The foreclosure measures were passed to ensure fairness and provide families with sufficient time to repay their mortgages before facing the risk of losing their homes. These safeguards aimed to protect homeowners and offer them a better chance to overcome financial hardships. -
real estate in 1900s pt.5
Hope emerged in 1934 with the establishment of the Federal Housing Administration (FHA) through the National Housing Act. This initiative aimed to support the housing sector and create opportunities for aspiring homeowners, helping to rebuild the industry. Four years later, the Federal National Mortgage Association, known today as Fannie Mae, was established by the Federal Government. -
real estate in 1900s pt.6
The 1940s witnessed a significant surge in buying activities, reflecting growth and prosperity. Aspirations ran high as countless individuals sought a place to call home, driving increased real estate transactions. The 1960s brought another pivotal moment with the creation of the Multiple Listing Services (MLS) by the National Association of Real Estate Brokers. -
real estate in 1900s pt.7
The subsequent decades, from the 1970s to the 1990s, witnessed a surge in direct mailings through postcards and brochures. This overall marketing strategy effectively reached prospective clients and showcase properties in a tangible format. Finally, in 1994, the real estate landscape experienced a seismic shift with the advent of Internet listings. This milestone unlocked a world of digital possibilities, transforming how properties were showcased, searched, and accessed. -
real estate now pt.2
Companies have developed further as well, offering better employment opportunities for agents and better ways for buyers to look at houses. For example, EXIT Realty, founded in 1995, offers residual income for its agents which lasts through retirement and even after the agent dies, allowing real estate agents to plan for their financial future. -
real estate now pt.1
The tech advances with the internet continued to impact real estate throughout the early 2000s, and the Home Garden Television (HGTV) produced shows like Room by Room, Dream Builders, and You’re Home which popularized and glamorized house flipping, remodeling and buying. However, the mortgage crisis of 2007 and the recession of 2009 eventually overshadowed this progress. -
real estate now ( ending )
Additionally, new technology like drones and virtual reality have entered the industry, revolutionizing how buyers can view and tour homes, especially in light of the COVID-19 pandemic. The real estate industry has continually grown with the times and shows no sign of slowing down.