{"id":15051,"date":"2019-03-11T13:33:09","date_gmt":"2019-03-11T13:33:09","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=15051"},"modified":"2019-03-11T13:33:18","modified_gmt":"2019-03-11T13:33:18","slug":"challenges-for-real-estate-firms","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/challenges-for-real-estate-firms\/","title":{"rendered":"Challenges For Real Estate Firms"},"content":{"rendered":"

Challenges For Real Estate Firms<\/h1>\n
\"Challenges<\/a>

Challenges For Real Estate Firms<\/p><\/div>\n

Keeping up with technology, facing increased competition from nontraditional market participants, and growing concerns over housing affordability are the top challenges that real estate firms say they\u2019re increasingly alarmed about, according to the National Association of REALTORS\u00ae\u2019 newly released 2019 Profile of Real Estate Firms. NAR\u2019s report is based on a survey of more than 6,000 executives and senior management at real estate companies, both commercial and residential.<\/p>\n

Forty-four percent of real estate firms said they expect competition from virtual firms to increase over the next year, and 43 percent expect the same from nontraditional market participants.<\/p>\n

\u201cIt is clear that the real estate industry is rapidly changing, and with that comes growing competition in the market,\u201d says NAR CEO Bob Goldberg.<\/p>\n

Real estate firms also expressed concerns over young adults\u2019 place in the housing market. Fifty-eight percent of firms said they were concerned with millennials\u2019 ability to purchase a home, while 46 percent said they were concerned about millennials\u2019 view of home ownership.<\/p>\n

Despite some perceived challenges, the majority of real estate firms remain confident that sales and profits will increase over the next year.<\/p>\n

\u201cReal estate firms continue to look optimistically toward the future, with a majority expecting profits to increase in the next two years,\u201d says NAR President John Smaby. \u201cThese trends are positive signs, particularly in our constantly evolving industry.\u201d<\/p>\n

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Some additional highlights from the survey:<\/p>\n