Nanuet, NY- Joe Rand Chief Creative officer at Howard Hanna | Rand Realty held his 3rd presentation of The Market is changing, are you changing with it, with about 200 agents in attendance.
“It is always great to see such a tremendous turnout at these presentations, it shows how dedicated and eager our agents here at Howard Hanna | Rand Realty are to learn more about the market and grow their business,” said Joe Rand Chief Creative Officer at Howard Hanna | Rand Realty.
Joe shared with the audience that the market is shifting again, however he assured his agents that it will not be comparable to how it was in 2008.
The 2019-22 market surge was based on fundamentals — low supply, low rates, and high demand. Joe believes there was a little bit of artificiality because of the covid-fueled increase in urban-suburban migration, which drove average prices up, but it’s nothing like the dramatic expansion of the buyer pool that the subprime mortgage products created. Joe explained that we won’t be seeing any foreclosure crisis like in 2009, because 95% of buyers in the last ten years have fixed rate mortgages that are not going to reset to unsustainable levels that force them out of their homes. Another reason is that from a historical perspective, the inflation-adjusted monthly payment required to buy an average priced home in our market is way below the last two sellers’ markets (mid 1980s, mid 2000s).
“We are going to to see inventory go up and more listings will start to hit the market, it will be a great time for buyers/sellers,” said Joe Rand, Chief Creative Officer at Howard Hanna | Rand Realty.
Joe is the pioneer of the “Client-Oriented Real Estate,” or “CORE,” philosophy of real estate education, which was created to raise the level of client service provided by the industry by teaching agents how to be “great at their jobs.”
Through these trainings, Joe provides agents with the most up to date information on the market, as well as ways agents can advance their businesses, so they have the necessary tools to become the best agents for their clients.
“When Joe Rand speaks, I listen! Joe’s analysis of the real-estate market – past, present & future – is always information I can rely on to be accurate and helpful. His presentation of The Market is Changing , are You Changing with It? was, once again, nothing less than amazing. These sessions are just one of the many benefits agents receive from working at Howard Hanna | Rand Realty, ” said Regina Carmel, Real Estate Salesperson for Howard Hanna | Rand Realty.
Check out the recap of this great event on our YouTube channel https://youtu.be/y2rETWtCbIs
About Howard Hanna | Rand Realty: Howard Hanna Rand Realty has more than 1,100 residential real estate sales associates serving New York, New Jersey, and Connecticut suburbs of New York City. Its 34 offices serve Bergen County, Passaic County, Hudson County, Morris County, Essex County, and Union County in New Jersey, Westchester County, Rockland County, Orange County, Sullivan County, Dutchess County, Ulster County, and the Bronx in New York, and Fairfield County in Connecticut. Rand also owns and operates Rand Commercial, a commercial real estate brokerage, and Hudson United Home Services, which provides residential mortgage lending, title services, and personal and commercial insurance. For more information, visit https://randrealty.com.
About Howard Hanna Real Estate Services: Howard Hanna Real Estate Services is the largest privately held real estate broker in the United States. The full-service real estate company has nearly 500 real estate, mortgage, insurance, title, and escrow service offices across 13 states, including Allen Tate Realtors® in the Carolinas and F.C. Tucker Company in Indiana, with more than 14,000 sales associates and staff, including many of the industry’s top-producing real estate agents. For more information, visit www.HowardHanna.com.