By: Nichole Naoum
There are thousands of professions in the world, but few careers rank as high as real estate in terms of happiness and job satisfaction. This comes as no surprise since real estate generally offers the type of freedom, flexibility and opportunity you cannot find anywhere else.
Real estate entrepreneur Elias Levy will shares details about his current role at RE/MAX®, key characteristics of effective leaders, and much more.
GB: Describe your role at RE/MAX®
EL: I am one of the majority owners and President of the Board at RE/MAX® Clarity. In my role, I provide agents with ample support and help answer questions regarding transactions, prospecting, investments or other related concerns. I also facilitate real estate transactions between buyers, sellers and investors.
What qualities should an effective real estate leader possess?
From my perspective, an effective real estate professional is an encyclopedia of local knowledge. They have a clear understanding of the rules and regulations in different communities and neighborhoods and know the likely value of a property. The best real estate agents are also open to feedback. They know that learning, listening and taking responsibility for their mistakes is critical. And last but not least, they are good with people. Real estate leaders have a knack for communicating with clients, making them comfortable and convincing both parties to close a deal that benefits everyone involved.
How do you foresee the real estate landscape in 2021?
With so much changing so quickly, it is hard to get a grasp of what is happening in the real estate world. Right now, inventory is at a historic low and the demand is high. Plus, the interest rates are very good. On the other hand, there is still a lot of uncertainty with the economy. So many potential homeowners are still unemployed, and my feeling is that if inventories stay low and rates stay low, we will keep seeing an upward shift in values. But, if at any point in the year, rates change up and inventory increases, I think we will likely see an adjustment in values toward the end of the year. One thing is for sure – the future is still pretty ambiguous.
Do you have any real estate tips or advice to share?
Real estate agents are trusted with the biggest transaction of a person’s life. There is a ton of communication and negotiation involved in this process, as well as administrative paperwork. To agents, I would tell them to stay as organized as possible so they can successfully fulfill all these responsibilities. The best way to keep track of all this information is a spreadsheet program or by using commercial software.
To clients, I would advise that you buy property if and when you can because time has proven that the value of homes will always continue to climb. Determine how much you can afford, research neighborhoods to find the best fit, and most importantly, plan for the long-term.