The ongoing downturn in home sales has created plenty of headaches for real estate agents.
But for those with a keen mind for presenting and marketing homes, today’s inventory gains and slowing market pace may finally provide more long-desired opportunities to present dazzling depictions of premier properties, three experts discussed last month at Inman’s Luxury Connect real estate conference in Las Vegas.
In the video at the top of this post, Sotheby’s International Realty CMO Brad Nelson, Engel & Volkers CEO Anthony Hitt and Douglas Elliman CEO Scott Durkin have an in-depth conversation on how the slowing market is changing luxury real estate.
Nelson said one of the upsides of this quickly rebalancing market is that agents are starting to see “high quality and high caliber inventory” presented for the first time, especially on the pricier end of the spectrum.
“I think you have to keep in mind that while we have to manage the expectations of sellers, there’s a wonderful opportunity to re-engage buyers who have been frustrated,” Nelson said at the event.
Stephanie Anton (from left), Brad Nelson, Anthony Hitt and Scott Durkin discuss what’s next for luxury real estate at Inman Connect Las Vegas. (Photo by AJ Canaria of Moxiworks)
Durkin agreed that navigating the change in market conditions is largely about managing buyer and seller expectations. Sellers can be convinced to bring down prices when the market dictates they must, he said. Buyers can wrap their heads around the new conditions and make an offer, he added.
“We have never gone backward in real estate,” Durkin said. “So when there’s a hiccup, we continue to ascend and develop our great skills and also make a lot more money as agents and as brokers.”
View the full conversation in the video above.
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