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Just Passed
Affordable housing gets a vote of confidence
#65
WELCOME
It’s Friday the 13th.
Right now, somewhere out there, someone is blaming a broken deal on bad luck. But in real estate, you know the truth: if something goes sideways today, it’s probably the buyer asking for “just a few” extra contingencies—not the date.
Whether you’re feeling lucky today—or watching over your shoulder—keep reading for this weeks top tips and biggest takeaways. 👇
🔊Today’s Top Podcast Rec:
Can’t get enough Cold Call Battles? Neither can we! In this fast-paced race to the lead, Ricky Carruth faces off against Kent Brown from Provo, Utah—a 6-year veteran agent who did a whopping 75 deals last year, all from cold calls. Tap to watch the pros smile and dial—and maybe just land a new client.
TRACK THE TRENDS
MARKETS
Big Spending on Affordable Housing
In last month’s election, voters across the country approved hundreds of millions of dollars in bonds and taxes that aimed to increase the supply of affordable housing. While many of these passed measures signal real progress, some regulatory hurdles, like zoning issues and miles of red tape, could limit their effectiveness.
According to a round-up report by Redfin, key approvals included:
Rhode Island’s $120 million bond to address affordability challenges made worse by remote work migration.
Charlotte’s $100 million bond to combat rising rents, now 27% higher than in 2019.
Los Angeles’ sales tax increase to fund housing and homelessness services (though some local regulations may limit that approval).
Despite many wins for affordability, a few proposals didn’t quite pass:
California’s Prop 5, which would have made funding bonds easier to pass, failed, which keeps the state’s supermajority requirements intact.
Denver voters rejected a $100 million annual sales tax increase for affordable housing.
These investments show the growing urgency around addressing the housing crisis. But with many regulations still in place, their impact is likely to be limited. For agents, these measures may signal future opportunities in affordable housing markets—if the money gets spent where it’s needed most.
DIVE IN
The Friday Five
📖 Gen Z. Read what the youngest home-buying generation looks for in an agent.
👀 Buying Chi-Town. Why Chicago’s luxury real estate market is struggling.
👀 What’s next. A developer just bought the $61.5M Diddy mansion. Here’s what he plans to do with it.
💡The price of success. What you have to earn to be “successful” in the US.
💡Good news for smart sellers. See the surprising stat that just jumped 12% YoY.
NEXT WEEK IN ESTATE ELITE
This month, the coaching team at Estate Elite is bringing members a host of targeted Q&A sessions and masterclasses focused on justifying your commission and proving your value in a shifting regulatory landscape.
With two Q&A sessions already live in the community—Glennda’s conversation on helping clients see your worth, plus Josh’s candid answers on how to get the commission you deserve—next week’s line up, featuring Tracy Tutor in Session One and James and David in Session Two, is just as action-packed.
If you’re struggling to earn what you know you’re worth—or reach the next level in luxury listings—join the exclusive Estate Elite community here and save your spot in next week’s live sessions.
WHAT’S NEW FROM ESTATE MEDIA
Politics and Home Purchases?
Curious what another Trump term might mean for the real estate market? ICYMI, on our new show The Breakdown, hosted by Beverly Hills’ super realtor and “Buying Beverly Hills” star Ben Belack, Ben covers the most pressing issues happening in real estate right now, so you know exactly how to think about, talk about, and plan for what’s coming next.
Watch the latest episode of The Breakdown for Ben’s expert take on potential upcoming tax cuts, federal regulations, interest rate predictions, and buyer confidence—and what these factors have to do with you. While you’re there, subscribe to be the first to catch new episodes just like this one, dropping every Thursday.
HANGS & HAPPENINGS
Inman Connect | NYC | January 22-24, 2025. Grow your network, learn from the best in business, and get inspired through multiple networking opportunities and breakout sessions from industry pros like Rayni Williams, Mauricio Umansky, and Jimmy Burgess.
RETCon | Las Vegas, NV | March 10-12, 2025. RETCon is a must-attend event for real estate technology and innovation professionals. The conference focuses on PropTech and RealTech solutions, trends, automation tools, AI advances, and more, and gives agents and industry pros a place to learn, network, and stay competitive.
FEATURED LUXURY LISTING
TIPS & TAKEAWAYS
Vital tips for first-time buyers
Earlier this week, our own Tracy Tutor joined the Drew Barrymore Show to share her brilliant advice for first-time buyers. Watch the spot—and forward it to your clients who need to hear this!—on YouTube now.
Put your best profile forward with a Homes Pro membership—and show up where (and when!) ready-to-move home searchers are looking. Tap the photo above to learn more about amplifying your real estate brand with premium tools, priority visibility, and enhanced exposure across the internet with Homes.com.
Before we go…
ESTATE RECOMMENDED RESOURCES
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