In today’s dynamic real estate landscape, KW New Orleans has positioned itself as the hub for bold, insightful conversations that empower agents and investors alike. Last week’s conversation, featuring Jeffrey Doussan, Cody Caudill, and MJ Sauer, shed light on the unique opportunities and challenges facing the market as 2023 wraps up.
The Big Picture
Investors are on the move. As Jeffrey Doussan observed, “Investors are buying houses, commercial buildings, and more — but not at full price.” These savvy players are capitalizing on year-end tax provisions and a shift in market sentiment. The result? Quick deals and strategic acquisitions.
The buyer psyche is changing. Cody Caudill pointed out that post-COVID buyers are less willing to overpay, leaving many listings stagnant. However, this creates a ripe market for investors and those willing to negotiate.
Economic outlooks are brightening. According to Doussan, “The soft landing is done, and we’re entering a new cycle of growth.” With interest rate cuts on the horizon, the real estate market may see renewed energy heading into 2024.
By the Numbers
Showings to contracts have dropped to 2.5–3, compared to 10 pre-COVID.
The average home price remains above trend, despite a slight dip in sales volume nationally.
In New Orleans, many neighborhoods are outperforming last year’s numbers in both units sold and overall volume.
Market Insights
- Investor Confidence: MJ Sauer emphasized, “This is your opportunity to buy. If you’re not looking at properties for yourself, you’re leaving money on the table.” With end-of-year urgency among sellers, now is the time to act.
- Leveraging Real Estate Knowledge: As Doussan reminded us, “That license in your pocket isn’t just for helping others — use it to build your own portfolio.”
- Consumer Sentiment Matters: Gas prices, stock market highs, and broader economic indicators shape public perception, creating windows of opportunity for agents who can educate their clients effectively.
What’s Next?
Agent Action Plan: Start building your investment portfolio now. “Don’t wait until January,” Caudill advised. “Pick three properties, assess their value, and make offers. These are the markets where you create long-term wealth.”
Overcome Objections: Insurance costs and interest rates are common roadblocks. However, as Caudill highlighted, “Figure out the client’s mental block and tackle it with data and options.”
The Power of Habits: Consistent prospecting and education are key. “Education without implementation is just entertainment,” MJ Sauer noted, urging agents to apply what they learn in daily conversations and client interactions.
Final Thought
The message is clear: The New Orleans real estate market is brimming with opportunities, but it requires boldness and action. Whether you’re an agent considering a switch to KW New Orleans or a seasoned investor, this is the moment to align with a brokerage that doesn’t just follow trends but leads conversations.
Want to know more? Reach out to our team and discover how KW New Orleans can help you grow your business — and your wealth.