Trending in Real Estate

Americans under age 40 (millennials and Generation Y) are most likely to say their overall quality of life has been negatively impacted by the pandemic, according to the 2020 Community and Transportation Preference Surveys from the National Association of REALTORS®. The research also notes this group’s reduced need to reside near highways, public transit or their place of work.

Despite a slight slowdown, sellers are still at an advantage as inventory drops to record lows. According to Zillow’s Weekly Market Report for the week ending Oct. 3, total for-sale inventory decreased 1.2 percent WoW, now 5.7 percent lower than last year—the largest annual decline since Zillow’s weekly data series began in 2019.

International home sales added $6.6 billion to the Texas economy from April 2019 to March 2020, according to the Texas International Homebuyers Report, recently released by Texas REALTORS®. Texas was third in the nation for homes sold to international buyers, behind Florida and California, accounting for 9 percent of all homes purchased by international homebuyers in the U.S.

As of last month, home prices were still holding strong, according to realtor.com®’ s Weekly Housing Report for the week ending Oct. 3. The report found that for the first week in October, the U.S. median home price stayed near its summer peak at $350,000, hitting a record-high growth of 12.9 percent YoY. Prices have grown over the past 21 consecutive weeks.

The National Association of REALTORS® (NAR) recently announced the retirement of Bill Malkasian, chief advocacy officer and senior vice president of the Advocacy Group, and Joe Ventrone, vice president of the Federal Policy and Industry Relations Team, both effective Dec. 31, 2020. Effective Oct. 1, 2020, Shannon McGahn has been promoted to chief advocacy officer. Bringing nearly two decades of experience in the legislative and executive branches of government, McGahn will leverage her political expertise to drive NAR strategy and REALTOR® Party advocacy efforts.

The Federal Housing Finance Agency (FHFA) recently announced that Debra Chew will join FHFA as director for the Office of Equal Opportunity and Fairness (OEOF). OEOF was created in January 2020 to elevate the importance of equal employment opportunity (EEO), alternative dispute resolution and antiharassment functions within FHFA, and reaffirm FHFA’s commitment to a workplace free of harassment and discrimination.

RE/MAX recently welcomed Rebecca Ruiz to the communications team as director of communications. In this role, Ruiz leads RE/MAX’s external communications efforts (PR) and is responsible for securing media placements, submitting brand award nominations and helping tell the brand’s story to the world.

The Real Estate Board of New York (REBNY) recently announced that Douglas Durst, chairman of The Durst Organization, will be nominated as the next REBNY chairman. A 51-year member of REBNY, Durst is the chairman and a member of the third generation to lead The Durst Organization. Durst is a director of REBNY and serves on its Executive Committee, Board of Governors and Management Division Owner/Labor Coordinating Committee.

The Wisconsin REALTORS® Association (WRA) named Joe Horning, president of Shorewest, REALTORS®, the new treasurer of the association. The WRA represents and provides services to more than 15,700 members across Wisconsin, and is under the direction of a statewide board of directors, composed of members from real estate firms around the state. Joe Horning, along with his brother John P. Horning, is a third-generation family member to lead Shorewest, REALTORS®. Earnnest recently announced the launch of its new Earnnest Enterprise division and the appointment of Russell Smith to the position of general manager, Earnnest Enterprise. Prior to joining Earnnest, Smith was director of Real Estate Strategy at HouseCanary, where he led nationwide brokerage expansion, operations, MLS data strategy and industry relations.

Freddie Mac Multifamily recently announced that Daniel Din has been named vice president of Specialty Underwriting. In his new role, Din will oversee the underwriting and credit of Freddie Mac’s businesses in affordable housing, seniors housing, structured transactions and low-income housing tax credit (LIHTC) equity investments.

Houlihan Lawrence announced that its current president, Liz Nunan, has additionally assumed the role of chief executive officer of the 1,300-agent firm. Houlihan Lawrence has also welcomed John Canniffe as chief operating officer, rounding out its C-suite, which includes Stephen Meyers as the firm’s longtime chairman and Andrew Lafreniere as chief information officer. As president and CEO, Nunan oversees all aspects of Houlihan Lawrence’s operations including the brokerage’s residential and commercial divisions across 30 offices. Nunan replaced former CEO Chris Meyers, who retired from the firm in March. Canniffe, with years of industry expertise in financial and data analysis, strategic initiatives and executive operational leadership, now oversees the brokerage’s core operations as COO. Prior to his most recent role as head of the Residential Listing Service at REBNY, Canniffe led strategic initiatives at The Realogy Franchise Group.

Coldwell Banker Realty recently announced the appointment of Jennifer Lind as president of Coldwell Banker Realty in Northern California. In this position, Lind will be responsible for the daily operations and sales of Coldwell Banker Realty’s branded operations. RE

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3 Ways the ABR® Designation Helps Your Agents Stand Out in the Crowd

by Marc D. Gould

Regardless of what they are buying, consumers have options. That includes who they select to help them buy a home. Unsurprisingly, consumers want a trusted and skilled advisor by their side, helping them navigate the process.

With more than 1.4 million members of the National Association of REALTORS® (NAR) plus other licensed agents, competition in your market area is at an all-time high. How do you help ensure that buyers will turn to you and your team of agents?

At the Real Estate Buyer’s Agent Council (REBAC), we take our job seriously by helping members distinguish themselves and their services by earning the Accredited Buyer’s Representative (ABR®) designation. Here are three of the ways we support their efforts:

1. Specialized education that helps agents elevate their ser-

vices. First and foremost, the ABR® designation course thoroughly examines agents’ duties and responsibilities to buyers. In addition to helping agents view the buying process through their clients’ eyes, agents also learn how to explain the value they provide and gain loyalty with a signed representation agreement.

All aspects of a buyer’s purchase are viewed through multiple lenses: What are the best practices? What are your obligations? How do you manage complex situations and avoid potential pitfalls, including risk management considerations?

Agents often describe the training as eye-opening and confidencebuilding. They walk away with the knowledge and tools to effectively advocate for homebuyers—and earn more of their business.

2. Training that goes beyond the

classroom. Since the dynamics of buyer representation are always evolving, we are also committed to providing ongoing educational tips through our newsletters and other live networking events to our members, especially in light of the current challenges from COVID-19.

If you would like to see an example of our efforts during the pandemic, ask us to send you a copy of our latest TBR newsletter, which includes best practice tips from several of our instructors. Send your request to rebac@nar.realtor.

3. An extensive collection of customizable marketing tools.

The ABR® designation course digs deeply into the value that buyer’s reps provide and how to communicate this to buyers. After earning their designation, members also have access to dozens of printed materials to support their marketing efforts and a growing library of shareable social media videos and other digital assets. To see some examples, you can find a short video at rebac.net/benefitsvideo.

Designations Are Differentiators

If your agents have not already earned the ABR® designation, I hope you will encourage them to join us. Currently, all courses are held in virtual classrooms. Learn more at training4re.com.

I know some of your agents have already earned the ABR® designation; we are excited to support your ongoing success in 2021 and beyond! RE

Marc D. Gould is senior vice president of Member Development for NAR, overseeing a wide range of professional development programs for REALTORS®, including the Real Estate Buyer’s Agent Council (REBAC). REBAC is the world’s largest association of real estate professionals focusing specifically on representing the real estate buyer. With more than 27,000 active members, REBAC awards the Accredited Buyer’s Representative (ABR®) designation to REALTORS® who have completed the specialized education and documented experience in working with consumers purchasing a home. To learn more, visit REBAC.net.

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