2. Executive Summary: Reshaping the Industry The Dynamic Dozen The Uncertain National Landscape Conclusion: New Value Propositions

4. Real estate is converging on a mobile, social, local platform. The real estate market in the next few years will be influenced by the national economic landscape. All industry participants must re- examine their value proposition to meet the needs of their customers.

5. Mobile Social Local Data “Splinternet” The Cloud Consumer Motivation Public Trust Agent Ratings Company Presence Collaboration A New Generation

6. Business Recovery, Government Intervention, Risk Tolerance,Credit Availability, Consumer Confidence, Housing Starts, Commercial Real Estate, Foreclosures/Short Sales, Mortgage Rates, New Mortgage Products