27 Jan New Opportunities Important to Real Estate Brokers This Year
The real estate market boomed in 2013, with bidding wars and rising prices taking center stage for much of the year. This was especially true in many California markets, and while 2014 is shaping up to be another impressive year for real estate, brokers are looking into new opportunities this year. This includes exploring new avenues for revenue generation. So, how will 2014 differ from last year?
Calmer 2014 Market Conditions: For one, the market is expected to be much calmer in 2014 than it was last year. With historically low interest rates, buyers leapt off the sidelines with such fervor that the real estate market had a hard time keeping up inventory-wise. According to real estate analysts, the market generally moves in 10-year cycles. California saw the low-point of the market arrive in 2006, and began to recover in 2009 before leveling off in 2013. Calmer market conditions are anticipated to stick around for another year or two in the Golden State.
Focus On Education: One of the biggest thorns in the side of real estate agents and brokers is the amount of unsolicited advice and information they receive. While it can sometimes be beneficial, too often, the emails and mass mailings are spam. In 2014, brokers and agents are more likely to rely on the professional opinions of their colleagues regarding continuing education. Whether it’s online in the form or a webinar or an actual class or seminar for them to attend, a personal recommendation will become increasingly important.
New Opportunities: It’s hard to believe that brokers and agents have any energy left after last year! But many kicked off 2014 with a recharged outlook for the future and are already considering ways that they can expand their businesses and make more money this year. According to the National Association of Realtors (NAR), more than 5 million homes will trade hands this year, helping to keep brokers and agents busy once again. From property management services to corporate housing, there are a host of new avenues that brokers are currently exploring.