RISMedia's Real Estate Magazine

APR 2017

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/805428

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Page 13 of 134

{Publisher's Desk} F rom Boise to Dubai, homeownership is booming. The fact that we're cov- ering both of these locations in one issue says it all: Real estate is a global business, now more than ever before. The global movement was quite evident at the RE/MAX R4 Convention in Las Vegas last month where more than 6,000 real es- tate professionals representing 60 countries were in attendance. But global is also happening right in our own backyards. "Real estate isn't local or global—it's both," says LeadingRE President and CEO Pam O'Connor in this month's cover story, beginning on page 30. Comprised of 550 independent broker- ages with 4,000 offices and nearly 130,000 agents in soon to be 70 countries around the world, global is part of LeadingRE's DNA. And whether you're in Boise or Dubai, it should become part of yours, too. As NAR Global Marketing Manager Cindy Fouth explains on page 109, "No matter where you live in the U.S., international clients are present. And they're a lucrative clientele. Foreign buyers purchasing in the U.S. typically spend more money per home and pay in cash more frequently than domestic buyers." Global opportunity is just one of the positive influencers driving business for U.S. real estate brokers. According to RISMedia's 2017 Power Broker Survey, 2016 total sales volume for the top 1,000 firms came in at $1,161,991,877,713, a more than $38 billion increase over 2015. Total transactions for 2016 increased by almost 200,000 over 2015, for a grand total of 3,648,075. However, while the forecast for homeownership is bright, 62 percent of responding Power Brokers almost unanimously report that the inventory shortage continues to be a problem— and a big one. "Our biggest challenge is lack of inventory in the entry and move-up price points," explains Rei Mesa, president and CEO of Berkshire Hathaway HomeServices Florida Realty. "There is demand, but a great deal of it is pent-up. This is a challenge for all of us, not just my firm." Find out how Power Brokers are strategizing to succeed despite inventory woes in our 2017 Power Broker Report special sec- tion, beginning on page 46. Here you'll find interviews, research results and the Top 500 list of Power Brokers ranked by sales volume. The complete ranking of the Top 1,000 firms by both sales volume and transactions will be available later this spring. Congratulations to our 2017 Power Brokers and continued success to all, John E. Featherston CEO & Publisher Local Challenges, Global Possibilities Relevant Content Auto-Posted and Branded for YOU! Generate More Business from Social Media! Your Logo! Mobile View ace.rismedia.com Your Logo!

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