photo by: Stephanie Ringleb Photography We were asked by RISMedia how the events of 2023 (inflation, interest rates, buyer-agent compensation, etc.) will impact our market in 2024. Collectively, we have not viewed the events of 2023 as a setback or a challenge – rather, an opportunity to level-up. As an independent brokerage, and not a big-box brokerage, even the slightest fluctuation in our overall socioeconomic landscape can impact us in significant ways. Keep in mind, the various shifts that took place in 2023 are not slight or small. Changes to law, policy, or commissions relative to real estate have the power to take down an entire segment – brokerage, team, or solo agents – of our industry. In fact, over the last year, we have watched too many agents and brokerages shut down their operations. They were unable or unwilling to withstand the turbulence. Unfortunately, our industry is under attack. Based on the events of 2023, our outlook for 2024 is to “run into the storm.” We are aware of all of the variables that impact the health and wellness of our industry and the sustainability of our own brokerage. And, we continue to remain optimistic, stable, and profitable. First, because we began making changes 12-18 months ago to our infrastructure, operations, and finances; keeping us agile and two steps ahead of the anticipated shifts. Second, because our management and leadership team are in alignment with the basic principle of continuing to arm and elevate our agents at a fundamental business level. We are doing everything we can to equip every member of our brokerage community to face this battle head-on. It is our responsibility to build and develop the agents and teams who choose us as the brokerage to be licensed with. It is incumbent upon us to equip every licensee with the resources, tools, and skills that they need to serve their client to the highest level; widening the platform on which our agents stand. We are in the process of auditing every department – to ensure each department is clear on the impact that they can make on our agents. Additionally, we have mobilized our entire support team by creating quarterly initiatives – where each support team member has a 90-day game plan that will continue moving the needle on elevating every single agent at our brokerage. We have completely redesigned our training, education, and events strategy this year to be focused on small-group niche-based training. We know that winning in 2024 will be by way of groups and collaboration. This new focus will help our agents lean further into our brokerage’s open-source environment. Consumers are more discerning than ever before. They want more details, ask more questions, and require more proof. We have redeployed and reprioritized our marketing team to get to the center of what tools and resources our agents need to not only build their brand and reach their clients, but to make their value clearly known. We have pulled apart every single digital and print asset, and completely rebuilt them, to make sure they meet the needs of every buyer, seller, and investor client. Success in this market requires playing at the highest level. The agent who serves with the highest level of communication, operations, and customer service is the agent who will be immune from any challenges, and ultimately who’s going to win. As a result of our laser-beam focus on open-source training and education, marketing, and equipping our agents and teams with the best tools and resources – this is exactly what we expect to see with our support. The events of 2023 have absolutely impacted us. The real estate industry is vulnerable right now. And, as a brokerage, we refuse to lay low in the grass and hide from the predatory practices that are currently taking place. We have been forced to audit ourselves and our business. We have chosen an offensive approach to take action, survive, and thrive. We have risen above, and we have stayed strong at our core. We’re determined to go into the storm, having it make us better.