Industry News

Market realities drive agents to new specialties

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

Editor's note: With the end of a year marked by weakening housing markets drawing to a close, the question on many industry professionals' minds is "When will this market hit bottom and when will it start to recover?" In this three-part series, Inman News seeks insight from housing analysts who go deep to paint a picture of housing in 2008, compares this downturn to past cycles and seeks input from agents on how they are reacting with their business plans. (Read Part 1 and Part 2.) Real estate agents in hard-hit housing markets are rushing into survival mode -- at least that's the case for many who plan to stick around. That may mean working with distressed properties, developing or fine-tuning other specialties, rethinking marketing strategies, or strengthening relations with past clients. And it probably means working harder and leaner. While membership numbers for the National Association of Realtors have largely withstood the latest market strains, there are signs of with...