REAL ESTATE MANAGEMENT: 1990S AND BEYONDTABLE OF CONTENTSIntroductionExpansion and DiversityHuman Resource ManagementConclusionReferencesREAL ESTATE MANAGEMENT: 1990S AND BEYONDBY Clark JonesINTRODUCTIONThe Journal of Property Management (1998) reports that real estate has been liberated by certain laws in the 1990s, and above all, the relaxation of the Glass-Steagall Act of 1933, allowing banking institutions to access the real estate market; the Taxpayer Relief Act of 1997, allowing property owners to indefinitely defer taxes on the sale of their property (about $91 billion to reinvest in real estate); and the 1998 Appropriations Bill which reduced housing costs by introducing “market-rate” rents (Anonymous, 1998, p. P6S). All of this translates into financial benefits for real estate companies. Interestingly, the 1990s have already seen changes that complement these changes. Most real estate companies have become management companies. Much like an investment portfolio, they not only list and sell properties, but also manage and invest in a number of properties. Additionally, they benefit from mergers and agreements. As if this change wasn't enough in just a decade, many real estate companies are changing the way they do business internally. Although they have always operated on a contractual basis with agents, participation and entrepreneurship took on new meaning in the 1990s (Davies, 1995, p. 54). Additionally, cultural demographics are changing rapidly. This means changes in organizational structures within real estate agencies. This article will discuss these changes in the context of the ethical considerations that real estate has always been responsible for. EXPANSION AND DIVERSITY Among other things, real estate brokerage services in the 1990s include understanding and complying with federal and state real estate laws; surveying of real estate; evaluate real estate according to specific criteria; ethically represent buyers and sellers and ensure all agents do the same” by conducting marketing analysis, cycles and trends; establish public relations and advertising campaigns; conduct business in accordance with corporate direction; operate under cooperative ownership arrangements; determining areas of investment and analyzing financial procedures middle of paper......real estate brokerage firms are becoming conglomerates, they must now begin to reconsider the human potential within their companies - and something else. Although they are expected to be the megacorporations of tomorrow, they must also maintain their ethical and cultural orientation. REFERENCES Anonymous. (1998, January-February). Legislation begins; The real estate sector is awaiting new leadership. Journal of Property Management, p. 6S(4).Belloit, Jerry, Ph.D. (1997). Real estate investment. Clarion University. At: http://www.clarion.edu/cob_web1/courses/realest/re471/index.htm, sld270.htm-274htm.Bowen, Brayton. (1995, April 3). Wanted: the workforce of the future. Industry Week, p. 32(1). Davies, John R. (November 6, 1995). Using the work breakdown structure in project planning. Facilities Engineering, pp. 54(3).Melcher, Richard A.; & Forest, Stephanie Anderson. (1997, September 22). The new world of real estate. Business Week, p. 78.Romano, Ellen. (1995, March-April). Opportunity in diversity. Journal of Property Management, p. 30 (6). Sinderman, Martin. (1994, November). Strategic alliances.. 72(5)