Tips to expertly prepare for a Real Estate market shift

Louisiana REALTORS® • April 22, 2022

BY MARIAN MCPHERSON


Here are some things real estate agents must do to effectively advocate for their clients, improve their skills, safeguard their finances, and build a business that stands the test of time.


The real estate market has been on an incredible run for the past two years with real estate agents handily breaking their previous sales records. However, the market has begun to shift as rising mortgage rates, unhinged home price growth, rock bottom inventory and worries about an impending economic downturn cut at homebuyer sentiment and threatens market activity.  Despite these potential downshifts on the horizon, experts say it’s possible to continue fueling success — but only if you’re willing to tune up your sales skills and tactics, business planning and development, finances, and personal life to expertly navigate the twists and turns of the market.


Have an intimate understanding of trends in your market

As the market continues its extraordinary hot streak, top-producing agents say the first step to success is to make sure you have an intimate understanding of your market with multiple sources and data points to provide a full picture of what is — or isn’t — happening. Detailed market research can make or break a deal, so be sure to go the extra mile to check in with LAR and fellow agents to get additional details on what’s happening in specific pockets of the market, learn what offer terms have been winning over sellers, and weed out other factors that can’t be packaged neatly into a report or spreadsheet.


Strengthen your relationships with agents and clients

After establishing baseline trust through showcasing your market expertise, agents must put the pedal down on the basics of relationship building with clients and fellow agents. The volatility of the current market alongside worries of an impending housing bubble means there needs to be more hand-holding than they’re probably used to. Communication is key!

 

In addition to building strong ties with clients, it’s equally important to build robust relationships with other agents. Strong agent relationships are invaluable in an uber-competitive and oversaturated market where agents are scrapping for the same clients.


Drum up inventory with some strategic real estate matchmaking

As the inventory shortage continues to worsen, real estate agents must sharpen their strategy skills and dig into their bag of tricks to create inventory opportunities for their clients.  Make sure you have access to off-market and coming soon listings, subscribe to several platforms geared toward providing market insights for top-producing agents, utilize social media

and dip back into databases to find sellers. 


Let’s not forget about open houses, which took a backseat for most of the pandemic due to social distancing guidelines and some sellers’ fears about having scores of people in their homes. However, open houses have come back with a vengeance this spring with several of them capturing social media headlines for miles-long lines of buyers.


Refine your negotiation skills

In addition to navigating inventory shortages, real estate agents must refine their negotiation skills to help homebuyers make a smart purchase that helps them not only now, but in the long run.  Make sure you are speaking to a homeseller’s other needs, such as a longer closing timeline or offering a leaseback option, can be more effective.


Reevaluate yourself and your business

The real estate market isn’t only competitive for homebuyers — it’s become increasingly competitive for real estate agents too. As the number of agents continues to outpace the number of homes available for sale, it can be hard for new agents to break through the noise and unsuspectingly easy for experienced agents to lose their progress if they’re not careful. Real estate agents must do an autopsy on their business and determine what is and isn’t working. Operating on auto-pilot won’t help agents remain successful as the market shifts into more thorny territory with rock-bottom inventory, rising interest rates and other factors that impact buyer and seller activity.


Build momentum and keep it

Once you figure out what works and build momentum, the real work and reward comes with consistency. There is no magic pill to suddenly put you at the top. It’s a lot of work. It’s grinding every day, it’s communicating with your current database, and it’s being as proactive as possible with your current clients. A huge part of keeping momentum is continually investing in yourself personally and professionally so you’re ready for whatever the real estate market throws your way.

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Update from 2025 REALTORS® Legislative Meetings

By Louisiana REALTORS® • June 6, 2025
The National Association of REALTORS® Board of Directors approved a 2026 budget with no dues increase and passed a Professional Standards Recommendation to clarify language in NAR Code of Ethics Standard of Practice 10-5, which prohibits harassment of any person or persons protected under Article 10 of the Code. A day earlier, the Executive Committee approved another Professional Standards change, revising language for Policy Statement 29 designed to ensure state and local associations can fairly and consistently enforce the Code of Ethics. Learn more about the changes. Read the revised Code of Ethics and Standards of Practice. Board members also approved a consent agenda to elect the 2026 officers and regional vice presidents . Christine Hansen of Ft. Lauderdale, Fla., was elected 2026 President-Elect, and Colin Mullane of Ashland, Ore. was elected 2026 First Vice President. The meeting opened with a video message from President Donald Trump, who welcomed REALTORS® to Washington and thanked them for support of the House-passed tax reform. NAR routinely invites the U.S. president to address REALTORS® at the Washington meetings. Over NAR's history, nine sitting presidents have addressed the association. Board Actions Approved a series of Finance Committee recommendations, accepting the association’s financial statement, approving the 2026 operating and advocacy budgets, and keeping dues at $156. The board actions also redirect $35 of the $45 Consumer Advertising Campaign assessment to operating funds. This change positions NAR to make its next settlement payment in February 2026 and maintain a balanced budget without raising total dues. The remaining $10 for the Consumer Advertising Campaign will fund optimized, metrics-driven activities that reach and engage consumers in critical markets. NAR CEO Nykia Wright and President Kevin Sears explained the shift at the opening session of the conference . Amended Standard of Practice 10-5 to give state and local associations greater clarity in how to fairly and consistently enforce Article 10 of the Code of Ethics. The amended Standard of Practice says that REALTORS®, in their capacity as real estate professionals, in association with their real estate businesses, or in their real estate-related activities, shall not harass any person or persons based on race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity. Made a series of recommendations to the Standards of Practice to bring the language in line with the terms of NAR’s 2024 settlement. Approved a motion to make one member of the Executive Committee a commercial practitioner who has served as chair, vice chair or liaison of an NAR commercial-related committee or forum to serve a two-year term and be independent of the 10% commercial representation requirement outlined in the NAR Constitution. Approved a recommendation from the Credentials and Campaign Rules Committee to amend qualifications for president-elect, first vice president and treasurer effective Jan. 1, 2026. Qualifications for top-line officers are now aligned with those already in place for regional vice presidents. Approved recommendations from the Member Accountability Committee related to applications for volunteer leadership and the Statement of Appropriate Event Conduct. The goal of the recommendations is to ensure members found in violation of the NAR Member Code of Conduct are properly disclosed. Award Winners NAR President Kevin Sears announced the 2025 Distinguished Service Award winners James P. Cormier , AHWD, C2EX, of Minneapolis-St. Paul, and Brooke S. Hunt , AHWD, E-PRO, SFR, SRS, C2EX , of Flower Mound, Texas. In addition, the group recognized the winner of the 2024 William R. Magel Award, Anne Marie DeCatsye , CEO of the Canopy REALTOR® Association and Canopy MLS in the Charlotte, N.C., metro area. REALTORS® Relief Foundation  During the meeting, REALTORS® Relief Foundation President Greg Hrabcak appealed to board members to make a tax-deductible donation. The fund provides housing assistance to victims in the immediate aftermath of a disaster; 100% of funds donated go to disaster relief. “We’ve had devastating wildfires in California, tornadoes in Missouri and Kentucky and flooding in West Virginia, and we’re still in the first half of this year,” Hrabcak said. Before the meeting ended, directors had donated more than $41,000.
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