At Inman Connect New York on Wednesday, Sue Yannaccone and Glenn Sanford spoke about positive market indicators and caring for employees remaining after layoffs.
Now is the time to double down on your skills and knowledge. On August 8-10 he’ll be at Inman Connect Las Vegas to lean into your shift and learn from the best. Get your tickets now for the lowest price.
The slowdown in the housing market has caused a lot of pain in the real estate industry, as plummeting home sales are prompting job cuts.
In a session titled “The 2023 Roadmap: How to Lead Through the Unknown,” Inman publisher Brad Inman noted Compass CEO Robert Reffkin’s optimism about the market on stage. bottom. Realty CEO Glenn Sanford and Anywhere Brands CEO Sue Yannaccone asked if there were any signs of a thaw.
“Q3 or [Q]4,” said Mr. Sanford.
“So to speak, we’re seeing the market start to freeze. By the end of the second quarter of this year, we’re going to see flattening or growing quarter-over-quarter. No more going south. Sales season is warm again. will start to become.”
Yannaccone said on-sale inventory remains a problem as buyer demand has not been met, but new home starts have increased this month, a “positive” sign. says there is.
“I think we’re seeing a little bit of cyclical selling back that we haven’t seen in a while,” Yannaccone said.
“The market will react differently. It is very important to truly understand what is going on in the market and make sure that agents and consumers understand it. Because it tells a very different story than what our office feels.”
Despite some improved market metrics, both Anywhere (previously known as Reology) and eXp Realty were laid off due to the recession.
“We definitely had to cut staff,” Sanford said.
“We were doing some of the things that were not as human-centric as possible,” he added, adding that the company had staffed overseas before the slowdown, but has now put that on hold. said it supports keeping more of its employees employed in the U.S.
“Many real estate agents face similar challenges,” says Sanford. “There are a lot of people who are suffering.
Yannaccone emphasized caring for remaining employees during difficult times, especially after layoffs.
“I think you have to be very empathetic with people when making these decisions,” Yannaccone said.
“Reach out to individuals with exceptional talent and ability who may be forced out of your organization. [asking] ‘Would you like help? How can I help?
“And see very quickly. You hug individuals who are still in the organization and say, ‘This is our plan. We are in this together.
Sanford agreed. “We basically believe we’re past the stage of firing someone else, so let’s make sure those here feel loved and cared for and don’t have to worry. .”
Email Andrea V. Brambilla.
