February 3, 2017
I think you will agree that 2016 was the busiest year we’ve seen in a very long time. Last year, our members were involved in a record number of transactions, listing or selling a mind-boggling $4.5 billion in real estate sales. There’s no doubt that Rhode Island’s housing market has not only recovered, but is playing a significant role in the improvement of the economy overall. None of us should forget the impact that we have in putting thousands of dollars back into the economy to the benefit of all Rhode Islanders. Kudos to all of you.
The year ahead
For those of you wondering what’s in store for 2017, let me share with you some information gleaned from December’s housing statisticsbvxxrucwvrurfscvfcssfsabsydqweyt which RI REALTORS® released today. Never have we seen such a busy December! Sales increased six percent from December of 2015. Pending sales however, fell four percent, an indication of a slowdown in closing activity in the months ahead. With just over a three-month supply of single-family homes for sale, sales may diminish a bit, at least until the spring market.
My advice to all of you — list, list, list! It’s definitely a sellers’ market so their upside potential is fantastic. RILiving.com has an interactive heat map that you can share with potential sellers that will show them what the market is like in their area. Let’s work together to get the word out that if you’re considering selling, there’s no time like the present.
A busy 2016 leads to a productive 2017
The Association was extremely busy in 2016, with several initiatives started that will begin to bear fruit in 2017. Here are a few updates:
- After months of preparation, I’m happy to report that the conversion to Matrix went smoothly with widespread rave reviews for the new system. I can’t thank MLS President, Duane Boucher enough for agreeing to a second term. The continuity in the MLS leadership helped move both this project and the development of the “new” RILiving forward without interruption.
- Speaking of…the “new and improved” RILiving.com is about to launch with a great new look and user-friendly design. RI REALTORS® will be promoting it heavily during the spring selling season so watch and listen for our new ads!
- Last month, the Association implemented a new affiliate member program – the RI REALTORS® Partners Program – which offers a variety of new marketing tools and resources for our affiliate members. If you know of any support businesses that would benefit from a relationship with our REALTOR® community and Rhode Island homeowners and renters, please forward this link to them: http://www.rirealtors.org/realtor-marketplace/ri-realtors-partner-programs/. Their participation will not only benefit their business, but strengthen our Association as well.
- Xplode is coming to town February 23rd! RI REALTORS® has partnered with Xplodethis.com to bring you a fast-paced tech conference that’s sure to enhance your business. This one shouldn’t be missed! Early bird pricing ends tomorrow, February 4th so make sure to reserve your spot today!
- RI REALTORS® will be hosting the RILiving Home School, one of the six main attractions at this year’s Rhode Island Builders’ Association Home Show. The Home School will provide a variety of information for buyers and sellers to help their real estate transactions go as smoothly as possible. We’re looking for partners to present on the topics that consumers need to know so contact [email protected] if you would like to be part of our inaugural Home School lineup.
- Our legislative agenda for 2017 is ramping up. The Association is looking at introducing several pieces of legislation and closely following many others. You can check out pending legislation which could affect our profession on our legislation tracker on rirealtors.org.
- Next month, RI REALTORS® has a fantastic opportunity to represent Rhode Island at the International Market of Real Estate Professionals, known as MIPIM (Marché International des Professionnels d’Immobilier). This international forum presents unique opportunities for participating states to meet with foreign investors. RI REALTORS® has worked closely with Commerce RI to determine optimal projects for attracting international attention and will be attending with more than 23,000 professionals interested in learning about business opportunities worldwide.
As you can see, there’s a lot going on as we head into 2017! Rest assured, we will move forward with focus, leadership, and professionalism to offer you the tools and resources you need to enhance your business!
If any of you have ideas or issues that you would like to discuss, or just general questions, please don’t hesitate to contact me at 401.276.8300 or by email at [email protected]. Stay tuned for more updates each month. It’s an exciting time to be a real estate professional!
Brenda L. Marchwicki
RI Association of REALTORS®