By Maria Patterson
While there is still plenty of room for improvement in our current economic and housing climate, Power Brokers are advancing full speed ahead toward recovery. The door to the downturn has been shut and there’s nowhere to go but up.
And based on the record-setting response to our 25th Annual Power Broker Survey, brokers are eager to report their respective tales of recovery. This year’s 1,000 respondents collectively amassed $767,983,687,087 in sales volume for 2012 and 2,985,668 in closed transactions. This represents a more than $158 billion increase in sales volume over 2011.
According to Power Brokers, while they had expected 2012 to be a transitional year as housing began the gradual process of recovery, these expectations were widely exceeded and many brokers closed the year in much better shape than they had anticipated. A bit of positive news about the economy, getting past the presidential election, and a stabilizing housing market was all that was needed to get buyers and sellers off the fence and fueling the housing engine once again.
Even more impressive than the climbing numbers in this year’s survey is the widespread mindset of today’s Power Brokers. While we’re not out of the woods in terms of unemployment, foreclosures and pending legislative issues, brokers are choosing to focus on the positives…and there are many: improved consumer confidence, rising home prices, continued low interest rates, increasing housing starts, a stabilizing economy…the list goes on.
To celebrate real estate’s return to health—along with the survey’s 25th anniversary—this year’s Power Broker Report, sponsored by Move, HSA Home Warranty, Homes.com and Leading Real Estate Companies of the World®, features more extensive data than ever before in an effort to dig deeper into the factors that are contributing to the recovery and the key challenges that lie ahead. In this special section, you’ll find the top 500 firms ranked by transactions, along with insights from some of the nation’s most notable Power Brokers. Complete interviews and our full ranking of the more than 1,200 responding firms will be available next month in the Power Broker Report publication, available in print and digital formats. Watch for details at rismedia.com.
This year’s report also includes a wonderful retrospective of the History of the Power Broker Report from RISMedia President & CEO John Featherston (page 63). Don’t miss John’s incomparable insights into where this industry has been and where it’s headed.
To all the brokers who took the time to complete the survey and bear witness to real estate’s recovery, we extend our sincere appreciation. You and your teams are a great testament to the resiliency of housing and the enduring dream of homeownership.
To view the Power Broker Report, click here.
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