How can real estate agents breakthrough in a changing market

Following the changes made by the Federal Reserve, the U.S. real estate market has also begun to “cool down.” According to U.S. real estate market statistics, many sellers are cutting down their prices significantly, some even by more than 25%. This is in stark contrast to the rise in housing prices during the past two years. Facing the cooling of the housing market and the increasingly serious problem of inflation, people can’t help but wonder: Is the U.S. heading towards a recession? If this negative trend continues, the real estate markets will likely bear the brunt of the recession.Many real estate agents are thus faced with the serious issue of surviving a market that could potentially overturn their livelihood.

With the shift in the current economy and housing markets, how should real estate agents move forward?

Real estate brokerages and agents have seen better days. Although the U.S. housing market has cooled down, the high cost of housing prices and interest rates have greatly reduced the consumer’s willingness to purchase a home. The National Association of Realtors (NAR) indicated that the number of existing home-salescontracts in the United States has dropped by 20% compared to June of last year. This certainly raises great concern from agents, especially since the housing market appears to be heading downward in the near future. Part of the difficulties and challenges real estateagents currentlface stem from the advancement of technology, where sellers would rather work with high-tech companies with lower commissions. Some states have even begun to allow buyers to cover their own agent’s commission, which makes being an agent more difficult and unprofitable. Some predict that if this trend continues, more than 50% of the real estate companies and agents will be out of business within three years, and a large number of real estate agents will eventually fall victim to this “real estate market torrent.”

Choose the Right Platform to Build a Team.

First of all, it’s time for real estate agents to stop limiting themselves to only buying and selling properties. Rise to the next level personally and professionally by diversifying your business backed by a reliable team of known experts. TransGlobal is the first all-in-one wealth management platform for Asian Americans, with services in residential lending, real estate transactions, asset management, tax services, education, and a multitude of insurance policies for life & annuities, personal & commercial lines, and health. For every category of these major financial services, TransGlobal agents are equipped with a team of helpful experts, and in-turn have the potential to increase in their own commission revenue by way of referring clients.

Secondly, single service providers will eventually be replaced by the more competitive, platform services model. For example, Google, Amazon, and Apple have all gradually shifted from providing only one type of service to a platform service model A successful platform service must be equipped with its own internal team of experts, or at least have a mutually-benefiting partnership with another platform.

With more than 25 years of experience in the real estate industry, TransGlobal has partnered with eXp Realty, one of the world’s largest real estate brokerages. Whether you are new or experienced, a residential or commercial real estate agent, eXp Realty’s cloud-based platform offers hours of weekly training courses to help expand your business, at a convenient pace of your own choosing. . .

Lastly, agents partnering with TransGlobal have access toa comprehensive platform not restricted by time or region Free training courses for agents are offered on a regular basis, as well as an annual company-hotsed Kickoff Conference held at TransGlobal Headquarters in Southern California. In addition, TransGlobal provides digital marketing support to affiliated agents as well as professional trainings open to the public, helping industry professionals to become more well-rounded.

The market is changing… shouldn’t you?

Summary: In this turbulent market, some professionals have foresight, while others only have hindsight. However, those who possess no insight and choose to remain ignorant are destined to be eliminated. Not much time is left for those who wish to remain exclusively as real estate agents. To survive the current wave and navigate safely to shore, be sure to adapt to change quickly and better yourself by becoming a better listener, observer, and learner.

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