RISMedia's Real Estate Magazine

APR 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1097917

Contents of this Issue


Page 67 of 144

RISMedia's REAL ESTATE April 2019 61 F or the housing market overall, 2019 has been characterized by easing home prices. "Our message to our sales professionals is to make sure that when we bring properties onto the market, that they're priced to sell," says REI MESA , CEO/president of BERKSHIRE HATHAWAY HOME- SERVICES FLORIDA REALTY . "Here in Florida, we're starting to see listing inventories grow, which is a good op- portunity, because the buyer demand is there. We're focused on making sure our sales professionals are armed to list properties at a price that's going to sell, and not based on speculation. "Our biggest opportunity in 2019 will be identifying and executing on acquisitions and roll-ins," he adds. "I believe there will continue to be consolidation in the marketplace, and we'll be there to bring those brokerag- es and companies into our network." T he San Francisco Bay Area seems to create its own reality and mar- ket conditions, believes CHRIS TRA- PANI , founder and CEO of SERENO GROUP , serving San Mateo, Santa Clara and Santa Cruz Counties. "In Silicon Valley, home prices have increased incredibly over the past eight years. While we remain at relatively inventory-deprived levels, we have sensed a slowing sales pace since mid- to late 2018," he says. "As we move into the first quarter of 2019 (at press time), we are experi- encing increased multiple offers, but the market is more price, location and condition sensitive. We expect an inventory surge over the next few months that will provide supply relief, but where that drives the market is uncertain. We do feel positively that we may have a more healthy and bal- anced market in 2019." W hen RE/MAX GOLD joined forces with Keith Myers and RE/MAX Olson in 2018, it opened up a Southern California opportunity to complement its Northern California dominance. "Together, the brokerages will pur- sue a course of elegant and aggres- sive growth for 2019, including an open door for mergers of other inde- pendent brokerages—both RE/MAX and not," says JAMES O'BRYON , CEO of the firm. "First and foremost, we will care for our existing agent popula- tions, as they are the foundation for all intelligent growth." O'Bryon adds that in a changing market, the best agents and their clients gravitate back to the highest- quality brokerage environment. "Dab- bling and experimentation take a back seat to quality and proof of concept." Rei Mesa Chris Trapani James O'Bryon Dan Forsman W hile still dealing with his- torically low inventory, affordable housing challenges for first-time buyers and a short supply of skilled labor, for DAN FORSMAN, president and CEO of BERKSHIRE HATH- AWAY HOMESERVICES GEOR- GIA PROPERTIES, 2019 is full of opportunity. "The upside is that we con- tinue to see robust trends for people and companies moving to our area," explains Forsman. "Our corporate relocation team is very active with major group moves. There is also pent-up demand for first-time buyers. As this segment improves their finances and begins to grow families, we expect more to buy houses. Another segment of pent-up demand is downsizers. We have many baby boomers who want to move to smaller and more efficient living. Overall, we expect to see 1 - 2 percent unit growth and 5 - 7 percent volume growth in our market for 2019."

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