 With the supply of the technology, the demand for physical office space is reduced. Because of the recession, people want to cut costs so they cut office space rather than employees.  The means of communication affects the Real Estate industry because it either limits or greatens the communication with potential costumers.  For example: has become a slower form of communication since a lot of people are now resorting to texting and instant messaging. With good technology, a Real Estate agent can communicate with their client much faster.

 Each country has its own cultural standards of being, thinking, and acting, and these cultural differences strongly influence workplace values and business communication.  Things we think to be perfectly normal may be considered offensive in another country.  Business men/women must be aware of these cultural differences.

Economy A bad Economy reduces consumer spending When the economy begins to look terrible, people take money out of the stock market and put it into real estate. Home prices decrease, thousands of housing units staying too long in the market and increasing number of homeowners going through foreclosures or short sales. The opposite is true for all of these when there is a good economy.

Economy 2 The United States housing bubble was an economic bubble affecting many parts of the United States housing market, including areas of California, Florida, Nevada, Arizona, Oregon, Colorado, Michigan, the Northeast megalopolis, and the Southwest markets. Real Estate Housing Bubbles - Housing bubbles may occur in local or global real estate markets. In their late stages, they are typically characterized by rapid increases in the valuations of real property until unsustainable levels are reached relative to incomes, price-to-rent ratios, and other economic indicators of affordability. Any collapse of the U.S. Housing Bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Wall Street hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession

 Between August 10th to October 10th, the median sales price for homes in Superior CO was $364,000. This shows a decline of 4.5% ($17,000), compared to the prior quarter and a decrease in 0.8%. Sales prices have appreciated 4% over the last 5 years in Superior.  The average listing price is $386,339.

Ethics in business The Benefits of creating an ethics program: Public Image. Prevention and Reduction of Criminal Penalties. Preventing civil lawsuits. Employee Retention. Market Leadership. Setting the example. A company who had negative results from NOT having a code of ethics was Enron.

Government Makes laws that the Real Estate industry must obey. Issues taxes Regulates the activity of any business. Government spending policy also affects business. For example, if the government spends more on schools, this will increase the income of businesses that supply schools with books, equipment etc

 This is crucial for a business to survive  Change is unexpected and people usually think of it as a bad thing.  When change happens, productivity takes a turn for the worse.  Change refers to the business environment.The environment includes technological environment, international environment, economic, political, natural environment and social or cultural environment.  Importance of business to adapt to its environment  (a) To meet Business Goals  (b) Enhances Decision Making  (c) Product Development