REALTORS® around the country are in Washington, D.C., this week to confront the biggest issues facing the industry and meet with lawmakers to craft future housing policy goals. Here’s what’s coming out of the REALTORS® Legislative Meetings that you need to know for your business.
Market ‘Curveballs’ Aren’t Taming Housing Demand
The booming housing market has helped the U.S. economy come back from the financial and economic impacts of the COVID-19 pandemic. “However, this year has already thrown some curveballs, including record-low inventory and unyielding inflation,” NAR Chief Economist Lawrence Yun said Wednesday during the Residential Economic Issues & Trends Forum. Get Yun’s latest market forecast and learn how practitioners are navigating high prices and low inventories. Read more. –Erica Christoffer
Saving Grace for Office Space?
The recovery in the office property market continues to lag behind other sectors in commercial real estate, with office vacancy rates still elevated and rent growth stalled, NAR Chief Economist Lawrence Yun said Wednesday at the Commercial Economic Issues and Trends Forum. But an emerging multifamily trend may offer new solutions for companies seeking greater workplace flexibility for employees. Read more. –Graham Wood
Build Your Brand with TikTok
The video-sharing app is surging in popularity, and it offers real estate professionals a new way to reach out to potential clients. Nearly 50% of TikTok users are between the ages of 18 and 31, and 40% of those users make at least $80,000 a year—offering a potential pool of affluent first-time home buyers. Heather Haase, an agent with HER, REALTORS®, in Dayton, Ohio, is an expert TikTok user and shares her top tips for generating leads, building your brand, and getting started with the buzzy app. Read more. –Catherine Mesick