I had the opportunity to meet with the new CEO of the National Association of Realtors®, Bob Goldberg, last week in their offices in Washington, D.C. NAR is the most politically powerful real estate organization in America and one of the most powerful in any field. Goldberg is a different kind of leader; he’s active on social media, and is attentive to the changes being brought about by technology. He shared his vision with me and Marisa Calderon to transform NAR into an organization with more focus on the consumer. It’s interesting to see even the most established organizations recognizing that the powerful changes being brought by demographics and technology have the capacity to turn any industry upside down. It was a pleasure meeting Bob, and I am anxious to see how his more humble brand of leadership will drive change inside a massive organization known for its legacies and traditions.
It has been long understood that a nation of stakeholders makes for a strong union, and for that reason, closing the minority homeownership gap has been a goal and a topic of discussion for decades.
Between 2008 and 2012, more than six million people lost their homes to foreclosure, property values lost almost 40%, and non-distressed home sales fell to all-time lows. It was, without question, the worst real estate market since the great depression. Not surprisingly, the historic dip in the market was followed by a decade-long bull market, the likes of which we have never seen before. Residential real estate is a cyclical market. The...
There is a saying that goes “when the tide rolls back, you can see who is swimming naked”. When the market is strong, it covers a lot of weaknesses. With interest rates moving up, inflation on the rise, and the economy heading towards a possible recession, we’ll find out soon how solid the foundation of the real estate market has been, and more importantly, which companies and agents have built a strong, recession-proof business.