This year has had its ups and downs, including the NAR settlement, Justice Department investigation, and copycat lawsuits. eXp CEO Leo Pareja’s key takeaways for 2024 include:
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When 2024 began, few in real estate could have imagined what surprises the year would hold. This unusual year has tested our resilience, adaptability, and leadership at every turn.
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From the pivotal moment on March 15, when the National Association of Realtors reached a historic settlement with plaintiffs’ attorneys, to the ongoing investigation and Civil Investigative Demand (CID) from the Department of Justice, the past year has been challenging. It was a year like a whirlpool of change.
6 points from 2024
As we reflect on this special year, we have compiled some key takeaways that we hope will guide you as you prepare for 2025.
1. Leader speed determines pack speed
In times of uncertainty, leadership is more important than ever. Staying decisive, proactive, and focused on solutions will set the tone for your team, your organization, and even your entire industry. Moments like these require clear vision and decisive action.
2. Letting go of “the way things used to be done” is difficult, but necessary.
This year has forced us to face the reality that change is inevitable. Whether it’s new rules of engagement, changing consumer expectations, or regulatory reform, holding on to the past can hold us back. Embracing change, even if it’s uncomfortable, is the only way to move forward.
3. It’s important to stand up for what’s right, even if you’re the only one doing it.
Advocacy is not always easy. This is especially true when the path is unclear or support is uncertain. But speaking up for fairness, transparency, and ethical practices is non-negotiable. Leadership requires the courage to speak up even when you feel alone.
4. Grace and empathy in turbulent times are superpowers
This year reminded me of the challenges of 2008-2009. The market turmoil and uncertainty of 2024, combined with the low number of transactions, is reminiscent of those days, but what stands out is the unusual way agents are coming together.
Despite the noise, they have worked tirelessly to help buyers and sellers navigate the complexities of finding their way home. Compassion is a powerful tool in moments of confusion.
5. The consumer must be at the center of everything
In an industry filled with jargon and “inside baseball,” it’s easy to lose sight of what matters most: the people you serve. Buyers and sellers are not interested in our inner complexities. All they care about is finding a home where they can build their lives and memories. Bringing their needs to the forefront must continue to be our guiding principle.
6. Agents aren’t going anywhere.
There is a lot of speculation about the future role of agents in a technology-driven world. Let’s be clear: real estate professionals play an important role in one of the most emotional, infrequent, and financially significant transactions in people’s lives. Guiding families through this process is not just a job, it is a mission, and it will never go away.
As we conclude this unpredictable year, I am struck by the resilience of our industry and its people. The challenges of 2024 only strengthen my belief that real estate professionals are some of the most adaptable, motivated, and dedicated people in any field.
Looking to 2025
If 2024 has taught us anything, it’s that change is the only constant. As we look ahead to 2025, I encourage all of us to embrace this reality with an open mind and a bold vision. Let’s continue to innovate, collaborate and advocate for the future of our industry and the people we serve.
Because no matter what surprises await, one thing is certain. That means real estate is more than just a transaction; it’s about bringing people home.
Leo Pareja is the CEO of eXp Realty. Connect with him on LinkedIn or Instagram.