Texas Real Estate Forecast for 2026

Texas Real Estate Forecast for 2026

by | Sep 9, 2025 | News Feed

Texas Real Estate Forecast for 2026

Why the 2026 Forecast Matters for Texas Buyers, Sellers, and Brokerages

Texas real estate has a way of surprising people—fast growth in one metro, a quieter stretch in another, and a market that can change quickly when mortgage rates shift. A practical Texas real estate forecast for 2026 helps buyers plan their budgets, helps sellers price and time a move, and helps real estate brokerages set realistic expectations with clients.

Heading into 2026, most signs point to a market that’s still active but more selective than the frenzy years. Inventory has improved in many areas compared with the tightest periods, and buyers are more payment-sensitive. At the same time, Texas continues to benefit from long-term drivers like job growth, business expansion, and household formation—especially in the “Texas Triangle” (Dallas–Fort Worth, Houston, San Antonio, and Austin, plus nearby corridors).

This article covers sales, rentals, and interest rates, plus clear, step-by-step guidance for finding your dream home and tips on how to best market your property. It’s written for buyers and sellers and real estate brokerages—with Texas-specific context, seasonal patterns, and common market dynamics.

Big Picture: What’s Likely to Shape Texas Real Estate in 2026

1) Mortgage Rates and Monthly Payments Will Drive Demand

In Texas, affordability often comes down to the monthly payment more than the headline price. If mortgage rates trend lower in 2026, even modestly, buyer activity typically picks up—especially among move-up buyers and first-time buyers who’ve been waiting on the sidelines. If rates stay elevated, expect steadier, more negotiated transactions rather than bidding wars.

2) Inventory and New Construction Will Keep Markets “Local”

Texas has more new construction than many states, but it’s unevenly distributed. Suburban and exurban areas often have more new builds and resale competition, while established neighborhoods with limited land can stay tight. In 2026, the balance between resale listings and builder supply will continue to define how much leverage buyers have.

3) Insurance, Taxes, and HOA Costs Will Matter More

Across Texas, homeowners are paying closer attention to total housing cost: property taxes, homeowners insurance (and wind/flood considerations in coastal regions), HOA dues, and maintenance. These costs can make two similar-priced homes feel very different in monthly affordability—something buyers will likely scrutinize even more in 2026.

4) Employment and In-Migration Support Long-Term Demand

While no forecast is a guarantee, Texas has a well-established pattern of job growth and in-migration that supports housing demand over time. Even when sales slow due to rates, many households still need housing due to life changes—new jobs, new babies, downsizing, divorce, or caring for family.

Texas Home Sales Forecast for 2026: Scenarios, Not Promises

A realistic Texas real estate forecast for 2026 includes a range of outcomes, because sales activity is sensitive to rates, inventory, and consumer confidence. Below are common scenarios buyers and sellers may see.

Scenario A: Rates Ease, Sales Volume Rises

If mortgage rates drift down enough to noticeably reduce monthly payments, Texas could see a stronger spring and summer season in 2026. In this scenario, more homeowners list (because they feel buyers are back), and buyers who paused return to the market.

  • What buyers may notice: faster-moving well-priced homes, especially in top school zones and commute-friendly areas.
  • What sellers may notice: more showings, cleaner offers, and fewer extreme concessions in move-in-ready properties.

Scenario B: Rates Stay Higher, Sales Remain Steady but Selective

If rates remain relatively high, Texas sales can still move, but buyers tend to negotiate harder. Homes that are updated, correctly priced, and easy to insure tend to sell first. Homes with functional issues, roof age concerns, or tough locations may sit longer.

  • What buyers may notice: more choices, more time to decide, and greater ability to negotiate repairs or closing credits.
  • What sellers may notice: fewer “impulse” offers and more inspection-driven renegotiations.

Scenario C: Economic Softness, Uneven Conditions by Metro

If the broader economy slows, Texas markets may not move in lockstep. Areas with diverse job bases and constrained housing supply may hold up better than areas with heavy new construction or more investor-owned inventory. The key theme would be unevenness: some zip codes feel balanced, others feel buyer-leaning.

Price Outlook: What “Stabilizing” Can Look Like in Texas

Texas home prices often behave differently by region. In 2026, a common pattern could be price stabilization—meaning modest movement up or down depending on local inventory, demand, and property condition. In practical terms, “stabilizing” usually looks like:

  • Fewer dramatic over-ask outcomes: buyers focus on comps and payment comfort.
  • Greater spread between homes: updated, well-located homes command a premium; fixer-uppers need sharper pricing.
  • More price adjustments: listings that start too high may reduce to meet the market.

Texas is large, so it helps to think in submarkets: metro area, then school zone, then neighborhood, then even the street. In 2026, accurate pricing will likely remain the difference between “sold” and “still for sale.”

Regional Texas Trends to Watch in 2026

Dallas–Fort Worth: Large, Competitive, and Neighborhood-Driven

DFW’s size creates “many markets in one.” In 2026, watch inventory levels in fast-growing suburbs versus established neighborhoods closer to job centers. New construction competition may push resale sellers to offer concessions in some submarkets, while well-kept homes in mature areas can still attract strong demand.

Houston: Value, Diversity of Housing Stock, and Insurance Awareness

Houston’s housing supply and price points often give buyers more options, but 2026 buyers will likely pay closer attention to flood history, drainage, and insurance costs. Sellers who proactively document improvements and provide clear disclosures may earn more buyer confidence.

Austin: More Sensitive to Rates, More Focused on Pricing Precision

Austin tends to react quickly to changes in rates and sentiment. In 2026, buyers may remain analytical—watching days on market, price reductions, and seller concessions. Homes that are priced correctly and show well can still perform, but “hope pricing” often backfires.

San Antonio: Relative Affordability and Consistent Local Demand

San Antonio’s relative affordability can support steady demand, especially among first-time buyers and military-connected moves. In 2026, expect buyers to remain payment-conscious, with well-maintained homes and realistic pricing selling more smoothly than properties needing major updates.

Coastal and Hill Country Areas: Second Homes, Insurance, and Seasonality

Second-home and lifestyle markets can be more seasonal and more sensitive to financing and insurance costs. In 2026, buyers may ask more questions about wind coverage, flood zones, water availability, and property maintenance—especially for rural or waterfront homes.

Texas Rental Market Forecast for 2026

The rental side is a major part of a complete Texas real estate forecast for 2026. Texas continues to add apartments and single-family rentals in many corridors, which can influence rent growth and vacancy trends.

What Renters May See

  • More choices in some metros: new multifamily supply can increase concessions (like one month free) in certain submarkets.
  • Slower rent growth in high-supply areas: when vacancies rise, landlords compete more on price and incentives.
  • Higher standards for value: renters compare amenities, commute time, and total monthly costs closely.

What Landlords and Investors May See

  • More competition: both from new apartment deliveries and from single-family rental inventory.
  • Greater focus on tenant quality: stable income and clean rental history matter more when turnover is costly.
  • Maintenance and insurance as profit drivers: controlling expenses can be as important as rent increases.

Single-Family Rentals vs. Apartments: Pros and Cons

  • Single-family rentals (SFR) pros: more space, yards, school-zone demand, often longer tenant stays.
  • SFR cons: higher repair variability, roof/HVAC surprises, lawn and exterior upkeep.
  • Apartments pros: predictable maintenance, amenity appeal, easier leasing systems.
  • Apartments cons: heavy supply cycles, more frequent turnover, concession competition.

Interest Rate Outlook for 2026: What to Watch as a Texas Buyer or Seller

No one can promise exactly where mortgage rates will land in 2026. But you can watch indicators that often influence rates and buyer behavior. In Texas, the key is understanding how rate changes impact purchasing power.

How Rates Affect What You Can Afford

A small rate change can materially alter the monthly payment, which is why buyer demand can rise or fall quickly. For sellers, this means the “buyer pool” expands when rates ease and contracts when rates rise.

Tips for Buyers Navigating Rates in 2026

  • Compare loan options: ask about fixed-rate terms, adjustable-rate mortgages (ARMs), and rate buydowns.
  • Focus on total payment: principal, interest, taxes, insurance, HOA, and any MUD/PID costs where applicable.
  • Lock strategy matters: discuss float-down and lock timing with your lender, especially in volatile periods.

Tips for Sellers When Rates Are a Headline

  • Offer smart concessions: in some cases, a targeted credit toward a rate buydown is more attractive than a small price cut.
  • Price to the payment: buyers shop monthly affordability; your list price should reflect current financing realities.
  • Make the home “easy”: reduce inspection surprises and documentation gaps that can derail rate-sensitive buyers.

Seasonal Patterns in Texas: When to Buy or Sell in 2026

Texas has clear seasonal real estate rhythms, though weather and local job cycles can influence timing.

Spring (March–May): Peak Activity

Spring typically brings the most listings and the most buyers. In 2026, expect competitive dynamics for well-priced homes, especially in family-focused neighborhoods before summer moves.

Summer (June–August): Strong Demand, Heat and Schedule Constraints

Summer remains busy, but Texas heat can impact showing comfort and inspection scheduling. Buyers often want to close before school starts, which can compress timelines and make pre-approval and document readiness critical.

Fall (September–November): More Negotiation Opportunities

Fall can be an excellent window for buyers who want less competition. Sellers still moving in fall often need a result, which can create room for concessions—especially if the home has been sitting since summer.

Winter (December–February): Fewer Listings, Motivated Players

Winter generally has fewer listings and fewer buyers, but the participants tend to be more serious. In 2026, winter can be a strategic time for buyers seeking negotiation leverage, and for sellers with a well-prepped home that stands out in a smaller pool.

How to Find Your Dream Home in Texas in 2026 (Step-by-Step)

Whether 2026 turns into a stronger buyer’s market or a more balanced one, the process works best when you follow a clear plan. Here’s a simple, Texas-friendly roadmap.

Step 1: Get Clear on “Must-Haves” vs. “Nice-to-Haves”

Start with lifestyle and location: commute routes, school preferences, access to medical care, and flood/terrain considerations. In Texas, also consider:

  • Property taxes: they vary by county and can materially change your monthly payment.
  • HOAs and deed restrictions: common in many master-planned communities.
  • Utilities and infrastructure: older neighborhoods may have different maintenance realities than new subdivisions.

Step 2: Get Pre-Approved (Not Just Pre-Qualified)

Pre-approval is a deeper lender review than a casual estimate. It shows sellers you’re serious and helps you shop within a realistic monthly payment.

Pre-approval checklist:

  • Provide income documentation (pay stubs, W-2s, or tax returns if self-employed).
  • Authorize credit review and discuss any credit improvements.
  • Review down payment options and closing cost estimates.
  • Ask about rate locks, points, and potential buydowns.

Common mistake: falling in love with a home before confirming taxes, insurance, and HOA dues. In Texas, those line items can be a bigger swing than buyers expect.

Step 3: Choose a Local Agent Who Knows Micro-Markets

Texas markets are hyper-local. A strong agent can explain which neighborhoods are holding value, where new construction is adding competition, and what inspection issues are common for the area (foundations, drainage, roof age, or HVAC performance in extreme heat).

Step 4: Tour Smart and Look Beyond Staging

In 2026, homes may sit long enough for buyers to be selective. Use showings to evaluate the “bones”:

  • Check drainage patterns and yard grading after rain if possible.
  • Look for foundation red flags (doors that stick, large cracks, uneven floors).
  • Ask about roof age, HVAC age, and service history.
  • Review seller disclosures carefully and ask direct questions.

Step 5: Write an Offer Based on Data and Terms

Price matters, but terms often win deals—especially in a balanced market. Your agent can help you evaluate recent comparable sales, current competition, and days on market. Consider:

  • Earnest money and option period (common in Texas contracts).
  • Repair requests strategy.
  • Closing date flexibility if the seller needs time.
  • Concessions such as closing costs or a rate buydown.

Step 6: Inspections, Negotiations, and Repair Decisions

Inspections are where many Texas deals are won or lost. Keep your focus on meaningful issues—safety, structural, mechanical, and water-related concerns.

How to approach the inspection period:

  • Attend the inspection if you can, and ask questions on-site.
  • Prioritize major items: roof, foundation, plumbing leaks, electrical hazards, HVAC performance.
  • Request repairs or credits with clear documentation and contractor estimates when possible.
  • Be realistic: cosmetic items are less likely to earn big credits in a fairly priced home.

Red flag: recurring water intrusion, undisclosed prior flooding, or patchy “quick fixes” without paperwork.

Green flag: a seller who provides receipts, warranties, and service records—and negotiates in good faith.

Step 7: Appraisal and Final Underwriting

The appraisal confirms value for the lender. If the appraisal comes in low, options may include renegotiating price, adjusting terms, or bringing additional cash. A well-prepared offer supported by strong comps reduces surprises.

Step 8: Closing in Texas: What to Expect

Texas closings typically involve a title company and a clear timeline for final walkthrough and funding.

  • Review your Closing Disclosure carefully for fees and cash-to-close.
  • Confirm utilities, insurance binders, and any HOA transfer requirements.
  • Do a final walkthrough to ensure agreed repairs are complete and the home condition matches expectations.

Tips on How to Best Market Your Property in Texas for 2026

If you’re selling in 2026, marketing is no longer just “list it and wait.” Buyers are more cautious, and they compare homes online before ever scheduling a showing. The best marketing strategy combines strong presentation, accurate pricing, and clean deal execution.

1) Price It Right the First Time

Overpricing is still one of the costliest mistakes. In many Texas submarkets, the first couple of weeks are when your listing gets the most attention. If the price is too high, you risk multiple reductions and a “what’s wrong with it?” perception.

  • Green flag strategy: price within the range supported by recent closed comps, not just active listings.
  • Red flag mistake: chasing the market down with repeated small reductions.

2) Invest in Pre-Listing Prep That Buyers Actually Value

Texas buyers often focus on big-ticket items due to heat, storms, and soil conditions. Consider:

  • HVAC service and clean filters (comfort matters during showings).
  • Roof inspection or certification if the roof is older.
  • Foundation documentation if there have been repairs (engineering reports can build trust).
  • Fresh, neutral paint and lighting updates for a brighter feel.

3) Professional Photos and a Simple, Clear Online Story

Most buyers will decide whether to tour based on photos and the listing description. Use professional photography, accurate room labels, and a description that highlights practical benefits: shade trees, layout flow, storage, and commute-friendly access.

4) Make Showings Easy

Access matters. If buyers can’t see the home conveniently, they move on. In 2026, flexibility can be a competitive advantage.

  • Allow evening and weekend showings when possible.
  • Have pets managed and the home comfortable (cool in summer).
  • Keep a simple list of upgrades and dates (roof, HVAC, water heater, appliances).

5) Offer Strategic Concessions (When They Make Sense)

In a payment-sensitive market, a concession can unlock a buyer’s affordability. Options include:

  • Closing cost credit: helps buyers with cash-to-close.
  • Rate buydown credit: can reduce monthly payments in the early years of the loan.
  • Repair credit: can be simpler than managing contractors, depending on the lender’s rules.

6) Don’t Ignore the Appraisal and Insurance Conversation

Two common closing risks in Texas are appraisal gaps and insurance surprises. Help prevent them by:

  • Pricing and supporting value with strong comps.
  • Providing roof age and condition details upfront.
  • Being transparent about past claims and mitigation steps where applicable.

Negotiation Tips for 2026: Buyers vs. Sellers

For Buyers: How to Negotiate Without Overpaying

  • Use days on market: if a home has been listed longer than local averages, you may have more leverage.
  • Ask for what matters: focus on repairs and credits tied to safety, structure, water, and major systems.
  • Keep your offer clean: reasonable timelines and strong documentation can beat a slightly higher but messy offer.

For Sellers: How to Protect Net Proceeds

  • Separate emotion from strategy: buyers negotiate; it’s part of the process.
  • Counter with clarity: if you won’t repair an item, consider a credit cap or documentation explaining why.
  • Watch the buyer’s financing: strong pre-approval and solid terms reduce the risk of fallout.

Guidance for Texas Real Estate Brokerages in 2026

For brokerages, a strong Texas real estate forecast for 2026 is less about predicting headlines and more about operational readiness. In a market that may be balanced or patchy by region, the winning play is consistency and clarity.

Client Communication That Builds Confidence

  • Use hyper-local metrics: days on market, list-to-sale price ratio, price reductions, and inventory in the client’s zip code.
  • Set showing and feedback expectations early for sellers.
  • Educate buyers on total monthly payment and Texas-specific costs.

Marketing Standards That Perform in a More Selective Market

  • Professional photography as a baseline.
  • Pre-listing checklists focused on roof/HVAC/foundation documentation.
  • Clear concession strategy guidance (when to offer, how much, and why).

Training Focus Areas

  • Inspection negotiation scripts and repair-credit math.
  • Understanding builder incentives and how they affect resale competition.
  • Insurance and property tax basics so agents can flag “payment traps” early.

Common Mistakes to Avoid in Texas Real Estate in 2026

Buyer Mistakes

  • Shopping by price only instead of total monthly payment (taxes, insurance, HOA).
  • Skipping due diligence on drainage, flood history, or foundation indicators.
  • Waiting too long to lock a rate or finalize lender documentation.

Seller Mistakes

  • Overpricing “to test the market” and losing early momentum.
  • Ignoring curb appeal and basic repairs that create doubt.
  • Being unprepared for inspection requests and documentation questions.

2026 Outlook Summary: A Texas Market That Rewards Preparation

Overall, the Texas real estate forecast for 2026 points to a market shaped by affordability, local inventory levels, and buyer selectivity. Sales activity is likely to hinge on mortgage rates and consumer confidence, while rentals will reflect new supply and household growth. For buyers, the advantage often comes from strong pre-approval, smart inspection strategy, and focusing on total monthly cost. For sellers, the path to top dollar typically runs through accurate pricing, strong presentation, and proactive repairs and documentation.

Whether you’re buying, selling, investing, or advising clients through a brokerage, 2026 is positioned to be a year where the best-prepared participants win—by making informed decisions, staying flexible in negotiations, and treating each Texas neighborhood as its own market.

Redfin Next expanding nationwide by the end of October

by | Sep 9, 2024 | Industry, News Feed

Seattle-based brokerage Redfin is taking its commission-based payment model, Redfin Next, nationwide on Oct. 27. Redfin Next enables agents to keep their W-2 status and benefits while earning competitive commission splits.

Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

After several expansions over the past 11 months, Seattle-based brokerage Redfin is taking its commission-based payment model nationwide. Starting Oct. 27, all Redfin agents will have access to Redfin Next, which enables agents to keep their full-time W-2 status and traditional benefits while getting variable commission splits of 70 to 75 percent based on the average home price in their market.

With Redfin Next, Redfin still covers agents’ business expenses, provides a 401k alongside medical and stock equity benefits, and offers technology, support programs and leads.

Jason Aleem. Image: Redfin

“We’re fully committing to Redfin Next because it has played a significant role in transforming our business and propelling our growth,” Redfin Chief of Real Estate Services Jason Aleem said in a blog Monday morning. “Redfin Next has empowered our agents to amplify their businesses and unlocked the opportunity for them to earn more money, while also inspiring other entrepreneurial agents to join us.”

“Having the best agents in the industry is critical to our mission to make real estate better for consumers, and with Redfin Next, we know we can continue to grow our impact,” he added.

Aleem said Redfin Next has significantly improved the brokerage’s retention and recruitment efforts, with top producers in their biggest markets breaking seven figures in commissions in 2024.

“I have always made a great living at Redfin, but under Redfin Next I’m setting and exceeding goals that I never knew were possible,” Orange County-based Redfin agent Maryam Amiri said in a written statement. “When I talk to other agents, they can’t believe the quality of technology, marketing, and leads I get for free through Redfin on top of the other employee benefits. Redfin understands that when those things are taken care of, I am free to focus on my customers and let my expertise shine. I’ve never been so confident in the future of my business.”

Glenn Kelman

In August, Redfin CEO Glenn Kelman said Redfin Next was an integral part of the brokerage’s growth during the second quarter, with  market share reaching 0.77 percent of U.S. existing home sales by units — a 2.66 percent increase from Q2 2023. The brokerage also added 200 agents across the 36 markets where Redfin Next currently exists.

“The capacity that Next has given us to hire more and better agents, with less financial risk, has been why we could become more disciplined about requiring a lead agent to host the first meeting with a home buyer, in the all-you-can-meet program we launched broadly this spring,” Kelman said. “In years past, Redfin asked the contractors we hired for short-notice property access to handle up to 40 percent of our customers’ first tours. Our lead agents make the Redfin case far better than these contractors.”

“We’ve hired more than 200 top producers over the last six months. Over the next nine months, our lead-agent census is likely to keep increasing, but without the capital risk of salaried agents,” he added. “This month, Next will be how we pay agents in markets that accounted for 74 percent of 2023 revenue, up from 17 percent in January and 30 percent in May.”

Kelman and Aleem have said Redfin Next is also an integral part of Redfin’s post-settlement strategy. The company settled Gibson for $9.25 million on May 6.

“In the wake of the NAR settlement, customers are telling us this is more important to them than ever before,” Aleem said in a previous statement to Inman. “We’ve always been focused on giving consumers a better deal, so we’re well equipped to support them.”

“We believe Redfin Next will be transformational for our brokerage, helping us retain our best agents, recruit top talent, and grow market share faster through both the ups and downs in the market,” he added.

The brokerage is hosting a reservation-only webinar about Redfin Next’s nationwide expansion on Sept. 26.

Email Marian McPherson

Second-home buyer’s remorse: 6 tips for prevention

by | Sep 6, 2024 | Industry, News Feed

Keeping clients fully informed and helping them to think ahead about the logistics and financial implications of a second-home purchase can create more positive feelings and better outcomes, Jonathan Pressman writes.

Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

The popularity of second homes popped during the pandemic when millions of Americans sought vacation homes and investment properties. Unfortunately, many of those buyers regretted their purchases, particularly when they went beyond their budgets or rushed their decisions.

Whether you’re helping clients buy a second home or looking for yourself, here are six tips to prevent second-home buyer’s remorse.

Try before you buy

If you want to buy a second home for your own enjoyment, why not take a home in the area on a test run first? With short-term rentals, it’s easy to preview what it might be like to have a second home somewhere without committing to a months-long lease.

If you’re exploring a summer or winter vacation home, try a seasonal lease before you spend hundreds of thousands of dollars or more. This will also give you a chance to spend some more time in a place, familiarize yourself with the neighborhood and decide firsthand if you think it’s worthwhile to buy. 

Tour the home in person

You can buy just about anything online, and homes are no exception. With blind offers on the rise, more buyers are willing to put in an offer sight-unseen. And while photos and virtual tours are a great starting point for homebuyers, they don’t paint a complete picture of a property. Regardless of whether it’s your first or second home, seeing the property in person can help prevent buyer’s remorse and unwelcome surprises. 

Make sure the math works

A second home can come at a considerable cost, so make sure you run the numbers — including the cost of financing the purchase, property taxes, insurance, maintenance and utilities. For vacation homes, weigh the pros, cons and costs of buying versus renting. In some cases, it may make more sense to rent.

If it’s an investment property, look at comparable leases in the area, calculate the cap rate and do your research to see what the rental demand is like in that market. You’ll also need to consider the cost of property management, or if you’ll be managing it yourself, the time and effort you’ll spend and any additional expenses such as rental management software. 

Wait for the right time

It’s easy to get caught up in the excitement of a competitive market. For buyers looking at a second home for vacationing, it can be especially emotional when you start thinking about holiday gatherings, connecting with family and friends, and enjoying other good times with the ones you love.

For investors, a hot market might feel like a wave you don’t want to miss. In either case, it’s important to exercise patience, wait for the right time, and never buy a second home on a whim or because you’re afraid of missing out.

Know what you want to get out of it

Before you buy a second home, make sure you know what you want to get out of it. Is the goal to escape the hustle and bustle of everyday city life or to generate income? Maybe you want to focus on building stronger bonds with family and friends.

However you decide to use your second home, you should know what you want to get out of it to make sure you feel fulfilled and satisfied with your purchase. 

Create a plan for how you’ll use it

Once you know what you want to get out of a second home, make a plan for how you’ll use it. If you’re using the home for vacation or to go skiing, when and how often will you go?

If you’re buying a second home because you want to escape the summer heat or head south to warmer climes, think about what you’ll do during the offseason. Second-home ownership doesn’t stop just because you’re not at the home.

Though you might only use it for a few months a year, remember, it’s a year-round commitment. If it’s an investment property, what’s your investment strategy? Will you look for long-term tenants, or will you play the short-term rental game? If so, who will manage the day-to-day operations? The last thing you want to do is have a second home that’s underutilized, which is why making a plan for how you’ll use it before you buy is so crucial.

MSN reported that boomers especially might have regrets about their second home purchases. But with a little preparation and patience, your clients can feel more secure in their second-home purchases and reduce the chances they’ll walk away with buyer’s remorse.

Jonathan Pressman is a Realtor who writes on a wide range of financial topics. Connect with him on LinkedIn and Instagram.

The rules are changing. Here’s how to stay afloat in the days ahead

by | Jul 18, 2024 | Industry, News Feed

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

Who do you become in the face of change?

What do you do when faced with changes in your life and business?

Here’s the truth, many of the real estate entrepreneurs we work with set goals to create a change in their business with a desired outcome. Sometimes, those changes are external to you and the goals you outlined in your business planner for the year. 

Voluntary, self-identified goals may relate to team building, creating new expectations and processes, or mapping out a plan to create an increase in your average price point or overall sales volume.

Right now, we’re coming up against big external circumstances and involuntary changes such as market shifts, rising interest rates or, of course, the implementation of operational changes as part of the commission lawsuit settlement, coming up on Aug. 17.

Either type of change pushes us to pivot in the ways we do business and communicate to prospective clients. One thing is certain and clear — change is inevitable. 

Not only is it inevitable, but change offers us endless opportunities to do better, be better and have businesses that perform better. However, many people are unwilling to contend with the changes required on their end to reach their goals, such as expanding their skill set and training or creating new boundaries or procedures.

The idea that you can create a macro change in your business or your life without many micro changes along the way isn’t realistic. Those sea change moments that many people seek are built upon a whole host of smaller changes.

To paraphrase mystery novelist Rita Mae Brown, we can’t do the same thing over and over and expect different results. Different results require different ways of thinking, different actions and different strategies. In short, it requires change.

Too often, change makes people uncomfortable, sometimes nervous, many times scared. Change can feel overwhelming, if not a bit daunting. As a result, many of us resist change, and cling to the familiar — even if we’ve outgrown our current circumstances and relationships (or they no longer serve us). We may resist change, even if it’s tied to a larger goal or intention.

In real estate as in life, growth and change are not just inevitable; they are essential for success. Ask the most sustainably successful agents in the business and you’ll find they are constantly evolving, adapting and leveling up in their businesses and personal lives.

In fact, they welcome change knowing change is the pathway forward to new levels of fulfillment, prosperity and purpose. Research supports the fact that adaptability and flexibility to change are key traits in successful (and happy) humans.

Growth and evolution are core ingredients of success and they require us to step out of our comfort zones, confront our fears and embrace the possibilities that change brings. Instead of viewing change with trepidation or resistance, create a new relationship with change, one in which change is recognized as a gateway to realizing your full potential in life and business, to fulfill those big goals.

By reframing your relationships and approach, you can more easily embrace change as a positive force in your life, opening yourself up to new opportunities, experiences and growth. Instead of fearing and resisting change, you can consciously and actively choose to embrace it as a catalyst for transformation, progress and reaching (and even surpassing) your goals.

How can you set yourself up to be more welcoming of growth and change?

Develop a growth mindset

Our beliefs and thought patterns shape our reality and influence our actions. Shifting our mindset to one of growth, abundance, and possibility is crucial for navigating the challenges and seizing the opportunities that come our way in the real estate industry.

A growth mindset is one that is dynamic, flexible and makes the most of challenges by recognizing them as opportunities. It’s a surefire way to create a new relationship with the challenges that change often delivers along the way to success.

Ask yourself

  • What beliefs or thought patterns do I need to shift to support my growth and success in real estate?
  • Am I willing to view challenges and changes as opportunities for self-improvement, learning and forward momentum?

Check your circle of influence

The people we surround ourselves with have a significant impact on our mindset, behavior, and ultimately, our success. Jim Rohn stated that we’re the average of the five people we spend the most time with.

Surrounding ourselves with supportive individuals who share our values and aspirations is essential for staying motivated, inspired, and focused on our goals. 

Ask yourself

  • Do the people I share time and space with believe in me and my goals?
  • Do I feel supported by them? 
  • Do they seek growth in their own lives and businesses?
  • Do we have shared values and goals?
  • Do I feel energized and motivated after being in their company?
  • Do I feel stressed or drained after spending time with them?
  • What changes do I need to make in my social circle to align with my vision for success? 

Check in on your systems, procedures, processes

Systems, procedures and processes are the backbone of a successful real estate business. They provide the necessary structure to operate smoothly and sustainably with consistency and efficiency. While most can agree that this is true, it’s common for many to resist creating reliable and effective systems in the first place. Even more resist changing these systems and cling to outdated methods that may no longer serve them.

Specifically, consider the impact of new commission settlement requirements and the necessity to adapt to these changes. Embrace new methods of working, enhance communication strategies with clients, and invest in relevant training to stay ahead in the industry.

Ask yourself

  • Which systems, procedures and processes are currently working well in my business?
  • Which ones are outdated or ineffective and need to be updated or replaced?
  • Am I resisting changes in my systems and procedures due to the fear of the unknown?
  • Am I willing to complete the necessary training and education to evolve and grow?
  • How can I implement new ways of working, communicating with clients, and incorporating ongoing training and education to improve my business operations?

Evaluate your habits and routines

Our habits and behaviors cumulatively shape our daily routines and ultimately determine our long-term success. Identifying and cultivating positive habits that align with our goals and values is essential for personal and professional growth in real estate and in life. Often, our habits and behaviors are so taken for granted, we lose sight of all the small details that add up to big results, positively or negatively.

Ask yourself

  • What habits or behaviors are holding me back from reaching my full potential?
  • What new habits do I need to cultivate to support my personal and professional development?
  • Are my habits and behaviors in alignment with and a reflection of a resilient growth mindset?

To make positive changes in the way we think about and react to the world, our mindset, the company we keep and the ways in which we move through the world in the day-to-day requires us to tap into our awareness and identify the areas where change is needed. To do so requires honest self-reflection and a willingness to step outside of our comfort zones.

Whether it’s shifting our mindset, surrounding ourselves with supportive individuals, creating a conducive environment for growth or adopting new habits, every change we make reflects a willingness to create change, embrace change and not be afraid of change.

This new relationship with the change required by our goals brings us closer to the vision of success we seek to create and experience.

As real estate professionals, your journey toward personal and professional fulfillment is paved with opportunities for growth and change.

Ask yourself

  • How will you meet those changes?
  • In what ways do you imagine your life and business flourishing as a result of creating a new relationship with change?
  • Does the idea of embracing change and exploring new possibilities energize you?

By approaching change with positivity, asking yourself the right questions and taking intentional action, you can create a life and career that brings you joy, fulfillment, and a sense of purpose and prosperity. This is true success.

Melanie C. Klein, M.A. and Emily Bossert are highly sought-after coaches known for empowering individuals and teams to achieve their full potential and success.