There has been an increase in the optimism of real estate leaders for the US economy and housing market in 2018
There has been an increase in the optimism of real estate leaders for the US economy and housing market in 2018.
Almost three quarters of top executives told brokerage marketing firm Imprev that they expect the economy to improve or improve significantly this year.
The Thought Leader Economy & Housing Outlook Study also showed a jump in expectation for the housing market with half of the execs forecasting an improved or significantly improved market, up from 38% a year ago.
“Real estate leaders have not been this optimistic about the U.S. economy since we started the Imprev Thought Leader Survey in 2012,” says Renwick Congdon, CEO of Imprev. “With confidence levels so high, now is the time to take advantage of new opportunities to keep up with consumer and agent demands. I look forward to seeing what the industry can accomplish.”
Broker challenges ahead
The poll of 220 broker-owners and top executives at leading franchises and independent brokerage firms highlights some challenges for the industry in the year ahead.
Number one is attracting talent; 78% said recruiting agents was their top challenge, down though from 85% in 2016.
Growing the number of transactions per agent is seen among the top challenges by 67% of respondents and almost two thirds said they were challenged by improving profitability, although 49% were confident they would improve it this year, up from 39% a year ago.
