Wrapping up 2023 and Adapting in 2024

As we wrap up 2023, it is with mixed emotions that I write my last update as your RASM President. Sad that my journey in this position is nearing an end, but I am very excited and hopeful for the future of our Association and the future leadership we have in place.

This year, our members and our profession have had to deal with and overcome issue after issue. Our market saw the lowest number of sales in years, while trying to tackle low inventory, skyrocketing insurance, and interest rates at the highest we’ve seen in almost 24 years. On top of that, the ruling handed down in the Burnett vs. NAR case has added more questions than answers on the future of our profession.

So, where do we go from here? First, it’s important to recognize that at this point in time, no rules have changed following the verdict. The National Association of REALTORS® plans to appeal the liability finding, standing by the fact that NAR rules serve the best interests of consumers. And this appeal process and future court proceedings could take years before anything is “final.”

Compensation will continue to be negotiable and set between a broker and their respective client, as it always has been. We have an obligation to our consumers, and it’s important that we as REALTORS®, ensure that consumers get comprehensive, equitable, transparent, and reliable home information and that brokerages of any size, service, or pricing model get a fair shot at competing.

REALTORS® are valuable. And we need to continue to show our value to the public. Agents who are REALTORS® will still and always be there for clients to guide them through the financial, legal, and community complexities of buying and selling a home.

When things are unclear, the best bet is to focus on what we can control. By making smart decisions, improving how we do things, and staying resilient, we can tackle challenges head-on. It’s about taking charge where we can and steering toward a future that we shape with our choices, making success more likely and sustainable. As your Association, we will continue to ensure that REALTORS® in Sarasota and Manatee uphold the ethical standards of practice with continuous education, certification programs, and other courses to help you improve your negotiation skills and be more confident as a buyer representative.

We might feel like we are in uncharted waters right now, but we need to remember that there is strength in our REALTOR® numbers, and we need to be ready to embrace new ideas and practices to make sure REALTORS® stay at the center of the real estate transaction.