T
his year marked a significant shift for the real estate industry, as practice changes took effect in August, prompting professionals to adapt their approach to working with buyers and sellers. Here's a rundown of the most-read articles from REALTOR Magazine in 2024:

    Market predictions and consumer trends are top of mind, with NAR economists weighing in on home sales and mortgage rates for 2025. They consider factors like election results, economic changes, and shifting buyer demographics that could impact real estate businesses.

    MLSs will evolve to meet the needs of consumers and brokers, according to a high-powered panel at the NAR NXT conference. The discussion centered around the value of MLSs and potential changes in the coming years.

    The 2024 Profile of Home Buyers and Sellers reveals mixed trends for buyers and sellers, with some succeeding while others struggle in the housing market. Sales and marketing strategies must adapt to these changing dynamics.

    Practice changes have brought new challenges, including compensation, commission, and concessions. Understanding how consumers will pay for real estate services is crucial under the new rules.

    Appraisals, data, and a proposed NAR settlement are also key areas of focus as brokers, agents, and appraisers navigate the evolving landscape.

    As practice changes take effect, brokers must lead their teams through this transition, helping agents explain the importance of written buyer agreements. This transparency is essential for compliance and building trust with clients.

    Commercial real estate faces its own set of challenges, including trillions in commercial loans coming due and potential damage from cicadas. NAR Chief Economist Lawrence Yun analyzes these risks and their impact on the market.

    In residential real estate, design trends are shifting, with some choices potentially hurting resale value. Sellers should focus on timeless simplicity to ensure a smooth sale. Bathrooms are getting smaller but still prioritize amenities like smart tech and spa-like features.

    Multigenerational living is a growing trend, with families and builders working together to create flexible solutions that meet the needs of all generations under one roof.