You and your clients feel it every day: the inventory crunch. Buyers are frustrated with too few options on the market, and you might be feeling stuck, wondering what you can do to make the situation better. You’ll find that your voice as a REALTOR® is one of the most important tools you have to create change for your clients.
That’s such an important concept to understand that the National Association of REALTORS® (NAR) is on a national Riding with the Brand tour to promote the collective power of REALTORS® in all 50 states. Get updates from the road. Drive With NAR host Marki Lemons Ryhal talks to two REALTORS® on both the residential and commercial sides of the business about the inventory issues in their communities and the action they’re taking to help fix the problem. Click here for the full podcast episode.
Bernice Helman, a regional vice president for Coldwell Banker Real Estate Group, manages the firm’s operations in Indiana. She served as president of the Indiana Association of REALTORS® in 2020. Currently, she volunteers as an NAR federal political coordinator for Rep. Jim Baird, and she chairs NAR’s Public Policy Coordinating Committee. Helman will be an NAR regional vice president for Region 7 in 2024. The National Association of REALTORS® recognized Helman in 2013 with a Good Neighbor Award for community service, and she also was honored in 2014 with a Coldwell Banker Hero Award for community service.
Kevin Rocio is an award-winning veteran in the Chicago real estate market. With his ROC Advisory Group, he brings a vast array of experiences in all areas of real estate, including commercial, residential, financing, and development. In 2011, Rocio joined the @properties family and quickly rose to become the number one commercial real estate broker in sales the following year. In 2014, he was accepted into the CCIM Institute. In 2019, the Chicago Association of REALTORS® honored Kevin with the REALTOR® Achievement Commercial Award for his outstanding contribution to the world of real estate in Chicago.
Utilizing Your Voice as a REALTOR®
The inventory crunch isn't just a market condition; it's a call to action for REALTORS® to leverage their collective influence and advocate for change. Here are some steps you can take to help alleviate the inventory issues in your community:
1. Engage in Policy Advocacy: Follow the example of Bernice Helman, who actively engages in political advocacy. Get involved in local, state, and national REALTOR® associations to push for policies that increase housing supply. Whether it’s advocating for zoning changes or supporting affordable housing initiatives, your voice can make a difference.
2. Community Involvement: REALTORS® like Helman and Rocio have made significant impacts through their community service. Participate in local community boards, volunteer for housing-related causes, and establish yourself as a community leader. Building strong community ties not only enhances your reputation but also positions you as a trusted advocate for housing solutions
3. Networking and Education: Join professional organizations and networks, like the CCIM Institute or your local REALTOR® association, to stay informed about market trends and best practices. Attending conferences, webinars, and training sessions can equip you with innovative strategies to address the inventory crunch.
4. Collaboration with Developers and Financiers: Work closely with developers, investors, and financial institutions to identify and promote development projects that can increase housing stock. Kevin Rocio’s extensive experience across different real estate sectors highlights the importance of understanding and leveraging various aspects of the industry to drive change.
5. Public Awareness Campaigns: Use your platform to educate the public and your clients about the factors contributing to the inventory crunch and the potential solutions. Host community forums, write articles, and utilize social media to spread awareness and garner support for housing initiatives.
Taking Action
The inventory crunch presents a significant challenge, but it also offers an opportunity for REALTORS® to demonstrate their leadership and commitment to their communities. By following the examples set by Bernice Helman and Kevin Rocio, and by actively engaging in advocacy, community service, and professional development, you can be a catalyst for change.
Remember, your voice matters. Together, as a collective force, REALTORS® can advocate for policies and practices that will increase housing inventory and create a more balanced, accessible market for all.
Get involved, stay informed, and use your voice to make a difference.
