As Real Estate Bust Ends, Brokers Return to Recruiting and Expanding, But not to Larger Offices
Real Estate Broker's Insider reports on industry trends for 2013
(Boonton, NJ, January 9, 2013) — For nearly half a decade, brokers have focused almost exclusively on cutting costs, squeezing overhead, and otherwise trying to survive the abrupt downturn in the real estate market.
2013 looks to be the year that brokers finally feel emboldened to expand again — although caution promises to be the watchword.
In the January issue of industry newsletter Real Estate Broker's Insider, editor Jeff Ostrowski asked industry leaders what they are planning for in the new year. The list includes:
- The market will continue to improve. A sharp rebound in home prices has delivered a jolt of optimism to the real estate industry. The National Association of Realtors says the median price of existing homes nationwide jumped 11 percent from October 2011 to October 2012.
- Agent recruiting will ramp up. And brokers seem ready to return to the oft-maligned practice of hiring large volumes of agents in the hopes that some will succeed.
- Merger activity will continue. Many brokers have been worn out by the five-year downturn and are eager to sell their companies.
- Offices will stay small. While hiring is back in vogue, the old practice of building big offices for all those new agents looks unlikely to return.
Details on these and additional trends appear in the January issue of Real Estate Broker's Insider.
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