2104 the Year of Opportunity for Real Estate Brokers - American Trust Escrow
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2104 the Year of Opportunity for Real Estate Brokers

2104 the Year of Opportunity for Real Estate Brokers

iStock_000031284462SmallHome buyers kept real estate brokers and agents extremely busy in 2013! From historically low interest rates that prompted buyers off the sidelines to almost constant news of a real estate recovery taking place, there’s no doubt that it was a great time to be in the real estate business. But what does 2014 hold? Now that we’re a few weeks into the New Year, here’s a look at how 2014 will be the year of opportunity for those in the real estate game.

Uncovering New and Different Opportunities: There’s no doubt that 2014 will be a different real estate landscape for both buyers and sellers, and the professionals that assist them. Whereas the first part of 2013 was characterized by bidding wars and quickly rising prices, 2014 will likely be a more level year. Still, the National Association of Realtors (NAR) says that more than 5 million residential home sales are expected this year, meaning brokers and agents will be as busy as ever. They will have to uncover new and different opportunities to keep pace with 2013 numbers, which is why some are looking at adding corporate housing and property management to the list of services they provide.

Education: Real estate agents are often accused of sending tremendous amounts of direct mail, but what most people don’t realize is that they also receive it! For them, it’s all about educational advertisements in the form of seminars, tradeshows and web-based learning, and most of it is unsolicited. In 2014, education will remain squarely in focus for brokers, but it will be how they decide on their educational opportunities that is different. Most will focus more on the recommendations and personal opinions of their colleagues before deciding on which classes or seminars to attend.

Changing Market Conditions: Nobody expected the real estate market to recover the way it did in 2013. Buyer interest soared to unprecedented levels, and in many markets, inventory fell well below the six-month mark that is considered balanced. Experts say that brokers and agents can expect market conditions to cool and change over the course of the next two years, particularly here in California. It’s all part of the 10-year cycle that the market moves in. We watched as the market bottomed out in 2006, turned a corner in 2009 and finally leveled off last year.