September means Back to Basics here at Inman. As real estate navigates the post-settlement era with new commission rules, real estate professionals from across the country will share what’s working for them, how they’ve evolved their systems and tools, and where they’re investing personally.
Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.
We all know that resilience doesn’t come from easy times; it comes from meeting tough times head-on and outlasting them. Still, real estate pros could be forgiven for feeling they’ve endured more than their fair share of challenges lately, from high interest rates to low inventory to lawsuit settlements and attendant operational changes. Those who’ve handled that 1-2-3-4 punch have built reserves of strength that will make them more than a match for any market.
We want to narrow down the obstacles in your way, so we asked: What’s the biggest challenge in your business today? Is it lower commissions, fewer deals or a general air of uncertainty? Are you struggling to plan for the future amid so much uncertainty? Is your biggest struggle motivation- and mindset-related — just keeping yourself moving forward with PMA (that’s positive mental attitude). Here’s what you said:
- Government over-regulation and a fragmented Association that’s no longer primarily concerned with agent-broker profitability
- My biggest challenge today is interest rates. I have several buyers who are simply waiting for rates to drop before they go house hunting. With rates currently at 6.15 percent, I tell them that if they wait until they hit the number they seek, they will be facing higher prices and multiple offers. There is a lot of pent-up demand in the market and things will get crazy when rates get to 5.5 percent or lower. The challenge is convincing them to jump in now.
Editor’s note: These responses were given anonymously and, therefore, are not attributed to anyone specifically. Responses were also edited for grammar and clarity. Inman doesn’t endorse any specific method and regulations may vary from state to state.
What did we miss? Please share your thoughts in the comments section below.
