@johncnatale Wow, that was fast. Only a little over six months ago interest rates started climbing up. The party was ending for many, it seems. I’m seeing so many of our competitors struggle beyond belief. Many are massive corporate franchises who don’t stay lean and follow a huge spending model. They are struggling to keep up, cutting staff, relationships because they don’t pay enough, or previously offered advantages for their agents. It’s kind of crazy to watch, I’ll be honest. It’s not like it’s been 5 years of “tough times.” It’s only been a handful of months. Many team leaders are going back into production, starving their team of leadership and vision in troubled times, because they need the money to survive. Many large companies are going bankrupt. The margins are so thin for those businesses that don’t live with their own means. The leaders don’t and that passes onto their business, causing huge trouble when our area is down over 30% in transaction count. That’s not prices, that’s the amount of transactions to go around. When that shrinks so fast, you really see who had the weakest ships out there. The sad thing is we’re seeing so many falter so fast, it’s almost startling. A healthy real estate industry includes many options for consumers or agents to choose from. I foresee a massive shrinking effect happening into 2023 and 2024 if interest rates stay high and there’s simply not enough transactions to go around. Furthermore, agents need to make sure their leadership has the vision for the markets to come. This will help them win in the next three to five years in the market that’s coming. We’re re-investing into our family’s business simply because we’ve stayed lean and profitable and our agents are just simply winning time and time again for their clients. If you’re looking to create a life that’s fulfilling, rewarding and successful, contact me today and let’s get started. I’m always looking for talented people to grow our family with. #realestatenews #housingindustry #broker ♬ original sound – John C. Natale Jr.
Wow, that was fast. Only a little over six months ago interest rates started climbing up. The party was ending for many, it seems. I’m seeing so many of our competitors struggle beyond belief. Many are massive corporate franchises who don’t stay lean and follow a huge spending model. They are struggling to keep up, cutting staff, relationships because they don’t pay enough, or previously offered advantages for their agents. It’s kind of crazy to watch, I’ll be honest. It’s not like it’s been 5 years of “tough times.” It’s only been a handful of months.
Many team leaders are going back into production, starving their team of leadership and vision in troubled times, because they need the money to survive. Many large companies are going bankrupt. The margins are so thin for those businesses that don’t live with their own means. The leaders don’t and that passes onto their business, causing huge trouble when our area is down over 30% in transaction count. That’s not prices, that’s the amount of transactions to go around. When that shrinks so fast, you really see who had the weakest ships out there. The sad thing is we’re seeing so many falter so fast, it’s almost startling.
A healthy real estate industry includes many options for consumers or agents to choose from. I foresee a massive shrinking effect happening into 2023 and 2024 if interest rates stay high and there’s simply not enough transactions to go around.
Furthermore, agents need to make sure their leadership has the vision for the markets to come. This will help them win in the next three to five years in the market that’s coming. We’re re-investing into our family’s business simply because we’ve stayed lean and profitable and our agents are just simply winning time and time again for their clients.
If you’re looking to create a life that’s fulfilling, rewarding and successful, contact me today and let’s get started. I’m always looking for talented people to grow our family with.