For weeks, the eyes of real estate's agents and leadership were on the Sitzer | Burnett trial. Inman Intel's latest sentiment survey of real estate's rank and file reveals anxiety in the wake of the commission trial as well as the impact of interest rates.
TALLAHASSEE, Fla., Nov. 20, 2023 /PRNewswire-PRWeb/ -- The October Inman Intel Index (aka Triple-I) survey results are out, offering hundreds of new insights gleaned from nearly 1,300 stakeholders across America's residential real estate industry.
"These are chaotic and challenging times in the real estate industry, and these survey results help us better understand the challenges. This is why we think the Triple-I is valuable for decision makers," said Chris LeBarton, Inman Director of Research. "This sentiment is as close to real-time as possible, and it will be interesting to see what November brings."
The leading source for real estate news, Inman posed unique questions to agents, loan originators, real estate & mortgage executives, and proptech players that again provided essential takeaways for industry decision-makers. But the Triple-I found one tie, interest rates, which continues to bind nearly every real estate professional – today and in their outlooks for 2024.
Interest rates still hang heavy around the real estate industry's collective neck. Per Inman Triple-I:
- Four out of five survey groups said interest rates are their top business concern.
- Mortgage pros, maybe the surprising exception, ranked interest rates second.
- Real estate agents and execs, surveyed during the Sitzer | Burnett trial, both put interest rates first even with 'commission lawsuit fallout' as an option.
- Real estate, mortgage and proptech executives remain hampered by costly cash. Asked about the cost and availability of capital today vs. 12 months ago, over 55% of business leaders either felt worse or the same but were pessimistic.
- There was more optimism expressed about raising capital 12 months from now. The percentage of respondents who said they felt better jumped five-fold.
Running concurrently with the Sitzer | Burnett trial, a real estate commissions case that may forever alter the residential real estate industry, the October Triple-I generated unmatched insights. Over 1,000 agents, broker-owners and real estate executives participated, offering real-time answers from the stakeholders most impacted by the lawsuit's verdict.
Full results, presented in a 142-page presentation, and comprehensive reporting are available exclusively to Inman Intel subscribers.
Inman Intel, the data and research arm for the industry's leading news source, surveys its community monthly to track sentiment and provide actionable information in a critical period for decision-makers. Inman Intel's November Triple-I survey is open and can be taken here. Results from the previous month's survey are released on the third Wednesday of each month.
Inman is the leading news source for real estate agents, brokers, executives, and technology leaders who gain useful advice on the industry's top stories, trends and developments that help them grow their businesses and stay ahead of the competition. With an audience of over one million professionals, Inman's pages and stages are where the industry goes to find the most innovative ideas and new business models, through our website, newsletters, events, awards, education, research, and subscriptions.
About Inman Intel
Inman Intel is a members-only service for real estate industry executives, proptech founders and the investment community looking to navigate the residential marketplace aided by research insights into factors that may impact key factors for doing business. Monthly subscription cost is $250 — or save when you join for a year. Benefits include weekly member-only email newsletter, research reports, periodic webinars, member-only sessions (virtual or in-person), and presentation decks from Inman Connect events. Plus an Inman Select subscription.
About Inman Intel Index
Each month, the Inman Intel Index — commonly referred to as the Triple-I, or III — takes the pulse of real estate agents, brokers, mortgage professionals and industry executives, tracking industry sentiment on everything from the state of the housing market to advances in technology like artificial intelligence. It generates actionable insights that move the industry forward. Results from the previous month's survey are released on the third Wednesday.