Industry News

Real estate pros keep cool about state of industry

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The real estate market is the bright spot in the economy; houses are selling like hotcakes in some locales; interest rates have dipped to record lows; and a multitude of mortgage options exist for buyers. So what's to worry about? Bubbles burst, booms bust and tides turn. And while an informal Inman News survey found no foretelling of utter doom and gloom, there were some issues dogging some people's consciences. There is an upcoming national election; average buyers are being priced out of the real estate market; low inventory is an issue in some sellers' markets; credit is being dealt out fast and loose; the labyrinth of Web sites and competing technologies is becoming more difficult to navigate; and low-commission enterprises are gaining market share in some areas. But staying with the basics, realty salespeople say, can lead them to weather any storm. Richard "Dick" Jeans, a salesperson with Century21 Advantage in Wichita, Kan., said good service will never go out of style. ...