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Leading Real Estate Companies of the World Anticipates Market Shift

Chicago (11/6/2008) – Leading Real Estate Companies of the World® recently completed its Fall Workshop series, featuring keynote speaker Steve Harney, who hinted that the market is entering the turn, and that the best professionals accelerate rather than brake to take advantage of opportunities.

Harney, an experienced broker and speaker, cites several financial experts who indicate the best time to purchase a home may be now or in the near future. “The dramatic fall in values we have seen in the last couple of years was the result of the unrealistic gains we saw in the early 2000s. We went from price increases of around 25% for every five year interval, to appreciation as high as 80% in some markets,” Harney said. “Those were simply not real numbers.”
Harney emphasizes the importance of pricing homes properly up front and not extending the process over time, noting, “It is the job of the sales associate to help the sellers establish realistic pricing. Extending the process over time simply keeps homes on the market, prolongs the pain and, ultimately, costs the seller money – often hundreds of dollars a week – by waiting.”

LeadingRE President Pam O’Connor notes the positive impact Harney’s presentation had on LeadingRE attendees. “Our members left these meetings in Chicago, Atlanta, Providence and San Diego with data and tools they can use to counsel buyers and sellers on how to navigate this challenging market, infusing our affiliates with confidence that they can make things happen. This is critical, given that in this economic environment the country seems to be looking to the housing industry to lead us out of this abyss.” O’Connor said.

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About Leading Real Estate Companies of the World®
Leading Real Estate Companies of the World® (www.LeadingRE.com) is a global real estate network comprised of nearly 700 of the best-known local and regional real estate firms. With more than 5,500 offices and 170,000 sales associates in the United States and 38 countries abroad, LeadingRE affiliates sell nearly $370 billion in home sales representing 1.2 million transactions annually. Six of the United States’ top 10 real estate firms are LeadingRE affiliates, and our members are the Number One firms in 44% of the top 88 markets in the United States, representing a powerful force in American real estate.

Leading Real Estate Companies of the World
161 North Clark Street, Suite 1250
Chicago, IL 60601
Robin LaSure: 312.424.0436, rlasure@leadingre.com

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