Bruce Caruth, regional owner of Exit Realty in Missouri, Washington, Oregon and Kansas openly states that there are many activities that are currently being prepared and put into place in order to open credit markets and be able to strengthen the housing industry. In fact, Bruce Caruth personally said this during Exit Realty’s Tenth Annual Convention at Gaylord Opryland Resort & Convention Center in Nashville, Tennessee.
Bruce Caruth even cited strategies in preparing a positive turn within the real estate industry.
First of all, companies need to fully understand why and how the end is visible. It is a fact that banks today realize that it is a better choice, in terms of managing finances, to do a “workout” on a mortgage, if it is possible, than to foreclose. Moreover, Bruce Caruth states that existing home sales have even kept their inventories reduced, if not flat. Interest rates have also stayed at historically low rates, making homes more affordable for entry-level purchasers.
Another important thing is to make sure that the overhead is reduced to levels that are either at or below the current revenue stream. This way, the brokerage and the real estate professional survive.
Lastly, Bruce Caruth cites that training is the key to increasing the skill level of an agent. If a certain office offers quality leads, then the chances of recruiting a serious agent, full time, increases dramatically.