The real estate industry is in a constant state of flux, especially during the spring season, which traditionally sees a surge in market activity. At our recent May ShaRE panel, moderated by Dan Hershkowitz, Senior Director of Risk Management at The Agency, industry experts provided valuable insights into navigating these changes and elevating businesses in today’s market landscape.
Panelists Mauricio Umansky, CEO of The Agency; Jay Hebb, Managing Partner of The Agency Boulder; Joan Kagan, agent of The Agency New York; and Mike Moir, Managing Partner of The Agency Boise, shared their perspectives on current trends shaping the housing market.
Joan Kagan highlighted the early optimism spurred by the Federal Reserve’s announcement of rate decreases. “The spring market came early this year,” said Joan. “The Federal Reserve announced in December that rates would be decreasing in March. That obviously didn’t happen, but, at the time, buyers who were concerned about increased competition once rates dropped were inspired to move quickly.”
Jay Hebb emphasized the challenges posed by the imbalance between supply and demand, particularly in luxury markets like Boulder.
“Boulder is experiencing the tale of two markets,” said Jay.” Non-discretionary spending below $3M is still taking place at a healthy clip while inventory above $3M has begun to stack. The most common guidance coming out of our Boulder office is really quite simple. On the listing side, we are having a lot of honest and sometimes difficult conversations with sellers relative to the state of the market to ensure expectations are realistic.”
Sponsored by SignMore, the panel also addressed the significance of being available to capture every opportunity in a 24/7 real estate landscape. SignMore offers solutions to handle calls, qualify leads, and schedule appointments around the clock, ensuring agents never miss out on potential clients.
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