Broker forecast challenges, focusing on buy market

Flora said he was able to avoid the pitfalls that beset others amid market changes. Rather than reacting and trying to quickly pivot to other areas, he saw changes coming and prepared for the changes, he said. “To put it into perspective, in 2020 and 2021 we were about 90% refi because that’s what the market was like at the time,” Flora said. “Everyone was refinancing and there was a huge volume there. A lot of stores, when rates started going up and it turned into a buying market, really struggled and are still struggling.

It was his foresight that helped his business navigate uncharted waters: “I had a bit of foresight that this was going to happen,” he said. “Two years ago, we opened a real estate company, Sunnyville Realty. It took us three months to make the transition and now we’re about 95% buy-in. Our volume is increasing every month.

The premium he places on customer service has paid off: “We try to provide a high level of service and focus on products that can help people buy a home in this environment,” he said. declared. “Don’t get me wrong, this is a tough market for everyone – consumers, lenders, loan originators, underwriters, processors. Everyone in the real estate business right now. But it is a cyclical business,” he added. “Real estate is cyclical. You can’t just have a good year every year. Sometimes there are more difficult years. But I think we’ve been able to do that quite successfully.

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Last year, the company recorded a volume of $1.4 billion from some 3,500 transactions.