S1E20 - Paradigm Shift In 2024 - What To Expect For CRE And Economy

Joseph led a discussion about the current state and future of the real estate industry. He expressed his excitement about a perceived paradigm shift in 2024 and highlighted the need for transparency, professionalism, and adaptability in the field. He also critiqued the National Association of Realtors (NAR) settlement, stating that it would make the market more competitive and force real estate professionals to be more transparent. Joseph also predicted a consolidation of associations and a reconfiguration of Multiple Listing Services (MLS) and title companies. He concluded by suggesting that small investor groups are eroding the value of larger associations. Joseph predicted interest rate stability and discussed the challenges in the real estate market, particularly the competitive rental market for high-end properties. He also mentioned the shift towards urban and suburban areas and the rise of section 8 non-market rents. Additionally, he addressed the need for transparency in commission rates and suggested leveraging other people's funds to navigate the current economic climate. He emphasized the importance of liquidity, understanding a client's strategy, and recognizing and adapting to the new market paradigm. He also highlighted the availability of more funds in the asset-based lending space than in traditional banking. Contact Our Sponsors=================Perkitech - https://perkitech.com/Built Lending - https://www.built-lending.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Built Lending - https://www.linkedin.com/in/josephvscorese/Contact Us===========Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/Email - [email protected]