RESPA Reform = Change

Anyone who tries to tell you they know exactly what RESPA reform means to your business is likely trying to sell you something.  RESPA reform isn’t just about new GFE and Hud-1 forms, it is a significant change in the way real estate transactions are conducted.  Roles will change.  Business processes and procedures will change.  And while we can identify some of the changes that will come as a result - many new realities are being forged right now, today.  That means there is an opportunity for us as a community to work together, to define and shape the new reality.  Not everyone will jump at this chance, some professionals who work in the real estate settlement industries will simply wait.  And by waiting, they will be relegated to a rule of “change consumer”.  Their approach to RESPA reform will be react after all of the questions are asked and new methodologies are fully crafted.   But the group who will control their destiny in this age of reform will be the “change innovators”.  This group will find opportunities and proactively position themselves in a way that ensures they emerge healthier and more vital to the settlement process than they were before.  I like the way Darryl Turner speaks to our industry about change.  When you understand what causes people to change, you can more easily identify opportunities for change and obstacles to adopting changes you want to make.  One thing we know for certain, motivating ourselves and others within our organization to embrace the change of RESPA will be a key ingredient to our success.  RESPA Ready Action Item: Infuse Your Working Environment With A Desire For Change!

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Mary Schuster is RamQuest's Director of Operations