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Brokers are optimistic about 2017

posted Dec 16, 2016, 1:09 PM by Joyce Evans   [ updated Dec 16, 2016, 1:10 PM ]
With some optimism about the real estate market in 2017, a room full of managing brokers and office owners and managers recently discussed the topic of recruiting real estate sales agents. A panel discussion on recruiting was held earlier this week at the Riverwalk Golf Club in Mission Valley. Recruiting top-performing agents is one of the biggest issues on every growing company’s plate. Recruiting is the heart, soul and talent that every owner looks for.
The panel moderator was Steve White, California Association of REALTORS® (C.A.R.) 2017 president-elect. “The most important thing I have found in recruiting is to have a value proposition and know what is going to attract top agents to come to a brokerage,” said White. “The second thing is to have the systems in place that result in retention. Today’s agents are looking for good staff, education and training and an agent-driven culture. The most important thing for brokers to figure out is what your brokerage can offer that would make an agent never want to leave your brokerage.”
Other speakers on the panel included Minnie Rzeslawski, RE/MAX 24K, and Carol Farrar, 1850 Realty.
“Recruiting is really in my office is more about personality,” said Rzewlawski. “I look for motivation in their prior job. I don’t hire all the recruits I interview. There has to be some kind of personality match for the office.”
“I’m very selective as to who I bring onto my team,” said Farrar. ”I want to make sure that those I select are able to do a lot of business. Recruiting is an interesting topic because I go against the normal model of bringing anybody who can fog a mirror.”
Also attending was Jim Abbott, president, Institute for Real Estate Excellence, a San Diego-based company offering programs, workshops, advanced training and certification for real estate professionals.
“Many people are still using an `anyone-can-get-in’ business model,” Abbot said. “Our industry is throwing a lot of our training bandwidth at people who will never succeed in our business. It’s better to be more selective and assess people before they join an organization.”
Meanwhile, in a survey of brokers who attended the meeting, 37 percent of respondents said they expect the 2017 real estate market will be either much better or a little better, compared to 2016. Other responses included 36 percent for “the same” and 27 percent for “a little slower.”
Many economists are saying that a shortage of homes for sale and affordability concerns will keep the U.S. housing market pretty much the same next year. The California Association of REALTORS® (C.A.R.) is expecting a slight rebound slightly from 2016’s dip in sales activity resulting in a nominal increase in volume in 2017. C.A.R. also is forecasting mortgage interest rates will rise next year, but not by much, and home prices are projected to be virtually unchanged.
On a national perspective, predictions vary on the effect on the housing market under a Trump administration and Republicans controlling both chambers of Congress. Trump, as a real estate developer, promised during his campaign to reduce federal regulations. So, there could be less regulatory land-use and zoning burden for home construction, and thereby lower the cost of building and increasing homeownership for millennial buyers. The National Association of REALTORS® (NAR) is saying that more millennials -- roughly, those born between the early 1980s and the late 1990s -- are expected to buy their first home in 2017.
Also with President Trump, there could be a move away from stringent mortgage underwriting to more normal lending, along with reforms to Fannie Mae and Freddie Mac.
In a statement from NAR President William E. Brown, NAR recently congratulated Dr. Ben Carson as President-Elect Trump’s selection for Secretary of Housing and Urban Development.
“We congratulate Dr. Carson on accepting this important challenge and wish him the very best of luck in meeting the task ahead. While we’ve made great strides in recent years, far more can be done to put the dream of homeownership in reach for more Americans. The National Association of REALTORS® and its 1.2 million members looks forward to working with Dr. Carson to fulfill this important mission.”