RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

NAR Power Broker Roundtable: Agent Support in a Changing Market

Home Agents
By RISMedia Staff
January 23, 2023
Reading Time: 4 mins read
NAR Power Broker Roundtable: Agent Support in a Changing Market

Moderator:
Kymber Lovett-Menkiti, President, Keller Williams Capital Properties, Washington D.C.; Broker Relations Liaison, National Association of REALTORS®

Panelists:    
Christian Barnes, President/CEO, Better Homes and Gardens Real Estate Kansas City Homes, Overland Park, Kansas
Howard W. (Hoby) Hanna, President, Howard Hanna Real Estate Services, Pittsburgh, Pennsylvania
Nancy Robinson, Vice President of Sales, Christies International Real Estate Sereno, Los Gatos, California
Mike Burns, Broker/Owner, REMAX Professionals, Littleton, Colorado

Kymber Lovett-Menkiti: Interest rates have risen from a historic floor and real estate sales have begun to normalize after the chaos of the last two-plus years. For some, it’s a respite from a frantic pace. For others it’s a worrying signal. But those who’ve been around long enough to weather years of market cycling understand that the sky is not falling—that there’s plenty of business for well-trained agents with initiative and a realistic outlook. Today we’re checking in with a sampling of brokers from across the country to see what they are doing to support their agents amid this changing environment. Chris, what do you see in Middle America?

Christian Barnes: First off, you are right, Kymber. This is not 2008. We need to get past the headlines and bear in mind that all real estate is local, and what we see is a pretty healthy market. The average selling price is down slightly, but inventory remains tight. We are still seeing multiple offers—maybe two or three instead of the 15 a year ago, but there is more room for negotiation and more opportunity for discouraged buyers who were shut out during the chaos.

Hoby Hanna: There is no gloom and doom in today’s market, regardless of the headlines. It’s a realistic environment, fairly comparable to what we saw in 2019. Inventory is low, and buyer demand is strong, so there’s plenty of business to be had. We need to control the message, focus on the basics, and do some serious goal setting.

Nancy Robinson: It isn’t the market of 2021, but agents who haven’t experienced a transitional market need to focus on the local data. Buyers and sellers want connection, and sales in our area are strong. We encourage our agents to stay abreast, embrace their social platforms and lean into their sphere.

Mike Burns: Of the 1,265 new listings in the metro Denver market in recent months, 1,150 were sold. If that’s not a robust market, I don’t know what is. Buyers are looking for value, as always, and sellers are having to be more realistic about objections. But the average selling price has remained fairly stable, and the mood is good overall.

KLM:  My mindset as a leader is on framing the message: There are plenty of home sales happening now. Here’s how to get your fair share.

MB: Some agents are still a little in shock about how quickly the market changed. Education is key to getting past that. How to price appropriately. Alternative financing options. Connecting in meaningful ways.

NR: This is the time to work where you play—a time to engage and connect. Be more visible where people know you. Join new groups and volunteer. It’s back to basics with a new spin. As leaders, we are bringing in economists and other speakers, but we are also providing new resources, like a “reel room,” where agents can produce short videos for their social media platforms.

CB: The business is there, but this is not a passive market. Agents need to find new ways to stay in touch with their sphere. Make more phone calls on birthdays and holidays. Knock on doors to say hello or deliver a gift. Host a contest and offer a prize you can promote on social media. And when you connect, be the local market expert. Take advantage of every resource.

HH: We Hannas have always focused on fundamentals—and on putting the tools and resources in our agents’ arsenals to ensure they are the local experts. Our mortgage rate reducer has been part of our culture since 1982. In this environment, it’s a useful tool to help buyers reduce their interest rate for the first two years before converting to a 30-year mortgage. We also have a 100 percent money-back guarantee. If a buyer is unhappy with their purchase during the first year of ownership, we’ll buy it back for the price they paid. Those are powerful incentives for buyers who are standing back and waiting for dramatic price drops.

KLM: This is also a time for aggressive business planning. It will take more effort on the part of every agent to set and meet their goals. But the market is far from falling off a cliff, and it’s our job to give our agents the support they need to maximize opportunity.

CB: The crazy pace of the last couple of years was not sustainable. Most buyers and sellers understand that. We are getting back to a pre-COVID-19 mindset and taking a realistic approach.

NR: Open forums are a good way for agents to share concerns and get workable solutions to the challenge.

HH: We believe in the housing market in any environment—and challenge has its rewards.

For more information, visit https://nar.realtor.

Tags: Better Homes and GardensCaliforniaChristiesColoradoFeatureHoward HannaKansasKeller WilliamsNARPennsylvaniaPittsburghPower BrokerRE/MAX Washington DCReal Estate Magazine
ShareTweetShare

RISMedia Staff

Related Posts

Second Century Ventures Announces Early Acceptances for 2023 REACH U.S. Programs
Agents

Second Century Ventures Announces Early Acceptances for 2023 REACH U.S. Programs

March 24, 2023
NextHome Forms Relationship with Realtor.com
Agents

NextHome Forms Relationship with Realtor.com

March 24, 2023
Evocalize and Side Announce Partnership
Agents

Evocalize and Side Announce Partnership

March 24, 2023
Bank Crashes Add New Uncertainty for Commercial Sector, Apartments
Agents

Bank Crashes Add New Uncertainty for Commercial Sector, Apartments

March 24, 2023
Fathom: Weak Q4 but Strong YoY Revenue, Agent and Transaction Growth
Agents

Fathom: Weak Q4 but Strong YoY Revenue, Agent and Transaction Growth

March 24, 2023
New Home Sales Rise for Fifth Consecutive Month
Agents

New Home Sales Rise for Fifth Consecutive Month

March 24, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

4 Ways to Leverage Augmented Reality to Improve the Homebuying Experience

From improving the showing experience to helping clients visualize what their new home could look like, here are a few ways that augmented reality could help you improve your client's search for their perfect home. Read more.

Business Tip of the Day provided by

Recent Posts

  • Second Century Ventures Announces Early Acceptances for 2023 REACH U.S. Programs
  • NextHome Forms Relationship with Realtor.com
  • Evocalize and Side Announce Partnership

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2023 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2023 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X