The last two years were spectacular for luxury real estate sales, even as the world suffered the fallout from the COVID-19 pandemic. However, the combination of rising inflation and mortgage rates, along with supply chain disruptions and the energy crisis in Europe and worldwide of the Russia-Ukraine war, have created the ideal conditions for an economic shutdown.
While some are forecasting a recession, there is no doubt that luxury real estate sales will be impacted. Listings are already lingering longer on the market, open houses have returned and asking prices are now often the final sale price in many markets.
How should real estate agents adapt as the market shifts?
Luxury Portfolio International’s August Luxury Hour webinar, Shifting Agent Mindset as Property Demand Evolves, will explore how interest rates and inflation have impacted luxury real estate, the effects on both sellers and buyers and strategies for agents dealing with the shift.
Dan Elzer, president of The Training Academy, and Brandi Snowden, director of member and consumer survey research for the NATIONAL ASSOCIATION OF REALTORS®, will discuss these topics with LPI president Mickey Alam Khan.
This free, hour-long webinar will take place on August 17 at 8a.m. Pacific/9a.m. Mountain/10a.m. Central/11a.m. Eastern time.