June 4, 2024 | Driving It Home with ABoR's Housing Economist

In this episode of Driving It Home, Dr. Clare Losey and Emily Chenevert focus on the newly launched Right Here, Right Now campaign and the suite of resources launched on the new hub. Emily discusses the campaign's intent to assist with navigating the recent NAR settlement changes and MLS rules. They emphasize the importance of a buyer's agent portfolio, to be introduced at the Market Shift Conversations on June 26, which will include small research reports aimed at enhancing the value of buyer's agents to clients.   Dr. Clare Knapp shares insights from the 2023 NAR Home Buyers and Sellers Generational Trends Report, noting that 86% of buyers in 2023 used a REALTOR® to purchase their homes, highlighting the significant role of agents. They discuss the timing of signing buyer's representative agreements, with nearly 50% of buyers signing these at different stages of their home-buying process. This supports the new requirement for written agreements before home tours, which protects both agents and consumers.   Emily and Dr. Losey further delve into the value buyers find in REALTORS®, such as helping to identify suitable properties, negotiating sales, and recommending service providers. They note that most buyers find their agents through word of mouth, emphasizing the importance of reputation, reliability, and expertise. The discussion concludes with a preview of May’s housing statistics, indicating a slight decrease in closed sales and stable median sales    Download a transcript of this episode: https://www.abor.com/content/uploads/2024/06/DIH-6-204-24.pdf   Links Mentioned Right Here, Right Now Research Hub: https://www.abor.com/rightnow Market Shift Conversations – June 26: https://www.abor.com/event-type/market-shift-conversations NAR Research & Statistics: https://www.nar.realtor/research-and-statisticsHome Buyers and Sellers Generational Trends Report: https://www.nar.realtor/sites/default/files/documents/2023-home-buyers-and-sellers-generational-trends-report-03-28-2023.pdf   Listen On: Apple: https://podcasts.apple.com/us/podcast/driving-it-home-with-abors-housing-economist/id1714289732 YouTube: https://www.youtube.com/playlist?list=PLzH_caxJ3VPq5iExWilqZOahnREgSFgqC  Connect with us on socials: https://www.abor.com/socials Connect with Dr. Clare Losey on LinkedIn: https://www.linkedin.com/in/clare-losey  Have feedback? Email us at [email protected].