From post NAR-settlement fallout to ongoing economic flux, residential real estate brokers are confronting a barrage of obstacles to running a successful firm. During RISMedia’s 36th Annual CEO & Leadership Exchange, taking place Sept. 4 – 6 in Washington, D.C., Howard Hanna Real Estate Services CEO Hoby Hanna will address broker challenges head-on during his keynote presentation, “The State of Real Estate: Insights for Navigating Today’s Market.”
“This is a moment in time where brokerage firms and agents have to show value and they have to differentiate,” said Hanna during a recent interview with RISMedia. “If the market thinks that all we do is put something on an MLS and put it on Zillow and on a website and then it sells, then we shouldn’t be paid. We do so much more than that.”
Howard Hanna Real Estate Services’ position in the market proves that the firm does indeed do “so much more than that.” Ranking as the No. 1 independent real estate firm in the U.S., according to RISMedia’s 2024 Power Broker Report, the company has grown to encompass a 13-state footprint with approximately 15,000 agents and 471 offices, giving the firm’s leader an invaluable perspective on the industry’s overall state of affairs.
During his keynote presentation, Hanna will provide an important overview of the state of today’s residential real estate market, offering a brokerage executive’s perspective on both the impediments and prospects that lie ahead. RISMedia’s iconic CEO & Leadership Exchange will be held at the historic Mayflower Hotel in the heart of the nation’s capital. The exclusive gathering of more than 400 real estate thought leaders will feature 100-plus brokers and experts participating in more than 25 presentations and panel discussions.
Since the Burnett verdict and the NAR settlement, Hanna has witnessed various reactions from brokers, ranging from burying their heads in the sand to becoming paralyzed from moving forward on their business. “They’re worried so much about the legality and the changes that they’re not supporting their agents day to day,” he said. “I get that, because this settlement is so confusing and every state’s now looking at legislation and the financing side of how this affects the fees. So everybody’s looking at their own world, and I think we’re forgetting about the customer and the consumer.”
That’s why, when confronted with the aftermath of the October verdict, Hanna presented the senior members of the company’s various divisions with a challenge: “Turn this all inside out— invert this. Don’t just take it at face value—take everything that’s happening and say, ‘how can this help and benefit homebuyers and sellers, and what can we do to benefit the consumer?'”
To that end, Hanna has put his company’s focus squarely on increasing education, resources and technology to equip agents to operate in the post-settlement environment. For Hanna, it’s all about, “How can we be at the forefront of saying to our customer, ‘we care about you and we’re going to make these changes be more transparent, make life easier for you and make the transaction less complex.'”
Seeing the writing on the wall, Hanna and his team were out in front of the impending changes triggered by the lawsuits. “Last summer, (we said), okay, we’ve got to get ahead of this curve,” he explained. “And so we had things planned like redoing our buyer packages, education and training. And then on Halloween when the verdict came in, (the plan) went supercharged. We did so much around buyer training then and into the first quarter so that we could say, even at the beginning of the year, we’re prepared. We’re ready—we’re ready to go now. We’re going to keep educating you. We’re going to move the dial. And that’s allowed us to continue to be creative, to think about the consumer, to think about the value, so that we’re prepared for it.”
In his keynote address, Hanna will discuss his strategies for operating a brokerage firm in this changing landscape, something he’s bullish on despite new rules and still unknown outcomes. “We’re going to follow the law of the land and be very transparent and open,” he said.
Hanna also believes the current landscape provides savvy brokerages with a rare chance to gain a competitive edge. “I think now is the time to shine—for those brokerages that do things differently, to stand out,” he said.
Hanna will elaborate on these topics and more during his keynote presentation on September 4. RISMedia’s 36th Annual CEO & Leadership Exchange runs through September 6. Limited seats are still available. Click here to register and see the complete agenda.
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