7 Ways to Get Ready for the Rebound
BY
Bobbi Pronin
.
December 10, 2024
According to NAR chief economist Lawrence Yun, the worst of the housing inventory shortage is coming to an end, mortgage rates are stabilizing, and job additions are continuing. With mortgage rates expected to stabilize at about six percent in the coming months, Yun forecasts a nine percent increase in home sales in 2025 and 13 percent in 2026.
What should savvy real estate agents be doing now to prepare for a slow but steady rebound in the market?
In a recent RISMedia webinar – How to Seize Opportunity as the Market improves – the CEOs of two major real estate firms and a technology executive discussed key strategies for navigating a changing market, offering actionable insights for staying competitive, maximizing revenue, and preparing for future growth:
- Stay informed. Pay attention to data points such as interest rates, mortgage rates, buyer activity, and search engine trends. Understand the trends in your local market.
- Show up every day with the right mindset. Success comes when you balance your attitude, skill set, and actions.
- Training and education are crucial for navigating industry-wide as well as local changes. Taking relevant classes and having meaningful conversations with company leaders can help agents in their business planning.
- Stay close to your client base. Regular and diverse contact efforts pay off in generating leads and securing repeat business.
- Don’t rely on technology to problem-solve. Chasing the latest product is not the answer. Do look for the tools and resources that work for you and support what you are doing.
- Host collaborative events with associates to help strategize. Intentional conversations can help identify and plan for growth opportunities.
- Set actionable goals. Reflect on past performance, identify strengths and weaknesses, and set clear objectives for the upcoming year. Implement a business plan that includes specific revenue targets, transaction goals, and client acquisition strategies.
---
This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. This material is not intended to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice.
About Bobbi Pronin
Bobbi Pronin is an award-winning writer based in Orange County, Calif. A former news editor with more than 30 years of experience in journalism and corporate communications, she has specialized in real estate topics for over a decade.
Bobbi is not an employee of Anywhere Integrated Services or affiliated with its title companies.
