AP: It’s important to remember, too, that home affordability today is still at record highs. This is a time when agents need to get out there. We need to keep the public well-informed, with real, local data.
LS: It’s also a time to focus on listings. We can attract and serve more sellers with sophisticated listing presentations and the customized roll-out of properties into the marketplace.
JB: Which brings us to the challenges today…
BM: We continue to be challenged by the implementation of the new lending rules, especially those of us who offer affiliated services. Mortgage lending has never been tighter or more complicated, especially for first-time buyers.
AP: We also need to be concerned with what happens to interest rates, and begin to acclimate buyers, especially younger buyers, to the reality of rising rates.
JB: Whether it’s interest rates or the mortgage interest deduction, REALTORS® face the continuing challenge of protecting homeowner interests—especially today, when higher down payment requirements mean first-time buyers have that much more skin in the game. Our message to the government has to be, “Do No Harm.” It’s the message NAR has been sending to Feds in no uncertain terms and will continue to send in an effort to hold Washington accountable.
