Last week, I had the pleasure of attending Leading Real Estate Companies of the World’s annual Limitless conference in Las Vegas. This year’s conference had over 1300 attendees, including a record 70 Canadians, with representatives coming from as far afield as New Zealand. 

For those unfamiliar with the organization, LeadingRE is a global association, made up of the very best independent real estate brokerages in the world. As a group, we exceed 550 members, spanning 75 countries, and representing more than 130,000 sales associates. 

In 2022, our U.S. members alone accounted for over $350 billion in real estate sales, surpassing the nearest franchise by more than $40 billion. In short, this is a massive organization. We meet throughout the year to network, share best practices, and educate ourselves on the most important trends affecting our industry. 

So, with the conference still top of mind, I’d like to share a few of the insights learned from a jam-packed week. 

LeadingRE’s chief economist, Dr. Marci Rossell, shared how the U.S. experience has mirrored our own. Rising rates have had a notable impact on real estate sales. Countrywide, transactions declined to 4 million sales in 2023 compared to 4.5 million in 2022. That said, in December the Core Personal Consumption Expenditures Price Index (used to measure inflation) slowed to 2.9% year-over-year. Dr. Rossell anticipates an ongoing inflationary decline in coming months and sees no evidence to suggest a recession is in store for 2024. 

While Dr. Rossell does not anticipate a return to the rock-bottom mortgage rates of the pandemic years, she does think lending rates will be back down to 5-6%, with the Fed making its first cuts in July. While a modest increase in inventory and declining mortgage rates will tempt buyers back into the market, buyers should not expect to be met with any significant decrease in home prices. As homes coming onto the market will be readily absorbed by pent-up demand, prices will likely remain elevated, and may in fact see an overall increase of 3-4% by the end of the year. 

Brian Boero, co-founder of 1000watt, a leading real estate marketing agency, was also on hand to lend some valuable market research. One of the things that stood out to me was their survey of what homebuyers value the most in their real estate professionals. Number one was interpreting property inspections and disclosure reports to highlight potential issues. Number two:  evaluating the pros and cons of homes that buyers have expressed interest in. Number three: touring homes and pointing things out on a showing. Number four: negotiating with the seller’s agent on the price and terms. And number five…helping the buyers find a home. Note how low on the list finding a home was. With technology democratizing the house hunting process, it is become significantly easier for members of the public to identify homes for sale. What hasn’t changed, however, is the expert advice and insight that can only come from an experienced and educated real estate professional.   

Finally, as a special highlight, Harvey Kalles Real Estate did very well at this year’s awards gala. In total, we were honoured with 4 awards including Brand Builder, for excellence in branding; Consumer Materials, for the quality of our listing packages, sellers guides, and buyers guides; Referral & Program Promotions, for our work in promoting the LeadingRE network; and Most Innovative Brokerage, for our unique approach to promoting New Homes & Condo sales. It was a wonderful evening, and I couldn’t be prouder of our team.  

The final takeaway from the conference is that real estate is truly a global marketplace, and the Harvey Kalles sales team is engaged and connected. Through our affiliations with Leading Real Estate Companies of the World, Luxury Portfolio International, Who’s Who in Luxury Real Estate, The Board of Regents, The Aventure Realty Network and Savills, we are positioned to help you with all your real estate needs, wherever those needs may be.

To learn more about how Harvey Kalles Real Estate can help get your home the greatest exposure, or help you buy your dream home anywhere in the world, please speak to a member of our sales team today!

We’re Local. We’re Global.