Evolution of the Real Estate Industry
Real Estate has a long and distinguished past.
In 3,000 B.C. the King of Babylon proclaimed that a Real Estate contract had to be entered into freely by both parties to make the transaction legal. Mortgage terms were set out on clay tablets in 2,100 B.C. while records of property taxes from 2,000 B.C. have been found in Egypt.
In Roman times the usual interest rate was one per cent but only half that for mortgages. There was no listing service back then so a crier in a town square shouted out the properties for sale. And they had no lawn signs. An ad was painted on the wall of the building for sale.
Canada acquired its Real Estate law from England and Canada's first Real Estate board, which continues today, was formed in 1888 in Vancouver. In 1922 the first provincial association formed in Ontario.
In the 1920's and 1930's realtors got together to create what they called co-op systems to share information about what was for sale within the same market. Creating these co-ops was the most important step ever made in bringing the business of Real Estate into its own, as a credible profession. The co-op information system evolved to Photo Co-op and eventually the name MLS (Multiple Listing Service) was used. This remains the foundation of the Real Estate industry today.
In 1943 the Canadian Association of Real Estate Boards (CAREB) was created to speak for all Real Estate boards and personnel. The term realtor was adopted for use by members. Both sellers and buyers quickly learned that Real Estate professionals provided invaluable services. More than half of the 113 Real Estate boards now operating in Canada were formed after 1955.
Real estate is the biggest financial investment most people make. Well trained staff will make the experience pleasant and rewarding. Guidelines for the industry, as well as protection for consumers, are provided by the Real Estate Act.
In the past ten years with the onset of computer technology and massive amounts of information available the Real Estate industry has experienced upheavals. The marketing process is more transparent, allowing buyers and sellers, as well as competitors, to more fully see and understand the marketplace. The role of the Real Estate professional has to be adjusted for the consumer to see value in the services provided and to ensure that the realtor remains part of the transaction.
Technology has brought new opportunities to market almost everything more efficiently, more cost effectively, and on a much broader scale. Real Estate seems particularly suited to take advantage of this.
NAMREX, the North American Real Estate Exchange, will lead in revolutionizing the Real Estate industry. The NAMREX concept is to provide today's time-starved, convenience-hungry consumers with a 
Real Estate Exchange where the consumer can complete a Real Estate transaction, in its entirety, under one roof.
NAMREX, a fully licensed Real Estate Company with well-trained staff ensures the consumer receives competent, personalized and friendly service.
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