Source: US News —
The U.S. housing market has seen a quick slowdown in 2022 with high home prices, high inflation and volatile interest rates. Many buyers are opting out of making a purchase with low affordability, and would-be sellers prefer to stay where they are in lieu of giving up their low monthly mortgage payments.
For real estate agents, the market downshift isn’t just concerning – it could be the reason they change careers.“I’d hate to be a rookie agent that’s just getting started, and it’s a really hard time to get started now,” says Mauricio Umansky, founder and CEO of The Agency, an international boutique real estate brokerage headquartered in California.
But the news for agents isn’t all bad – Umansky and The Agency’s chief strategy officer David Walker say that the change in the housing market offers an opportunity for agents to set themselves apart from the rest. As they gear up for the premiere of “Buying Beverly Hills,” a Netflix reality show following Umansky and The Agency agents as they trade luxury real estate in the Los Angeles area set to debut this fall, Umansky and Walker are sharing their advice for agents, expectations for what will happen next in the housing market and how consumers can land a successful real estate deal.
