Every week, we ask a real estate professional for their thoughts on the top trends in real estate.
This week, we talked with Brett Duffy, the managing broker of Coldwell Banker in Dunwoody. A former top agent in Atlanta’s No. 1 office, Brett supplied new agents with a solid foundation upon which to build their careers, and is passionate about sharing his knowledge and enthusiasm with his agents.
Atlanta Agent (AA): What are some of the things driving housing demand in Atlanta?
Brett Duffy (BD): There are many factors that drive demand in Atlanta. Inventory, for instance, is having dramatic effects. At the end of 2015, inventory levels were just 3.3 months, which is far below the traditional level of six months. Because of that, I always recommend to buyers and sellers that they not wait to make their move.
Inventory is especially tight in the lower price points, but then again, we’re seeing areas such as Brookhaven and Buckhead that are very competitive, so inventory is low all over.
AA: Are any of your agents experiencing problems with the new TRID regulations?
BD: As with most new programs, there are some glitches in the implementation, but it’s important for buyers and sellers alike to select good service providers, people who are dealing with these issues on a daily basis. As long as the providers are prepared, and the client knows what the expectations are, it really does not add much to the process for anyone else involved.
And I think the initial resistance to TRID was because the HUD regulations had been around for so long; everyone was used to them and knew what to expect. To eliminate that and have a new set of forms does stress people out, but it’s really a matter of understanding what the forms say and what disclosures/documentations are required.
AA: Finally, what is your process for training new agents?
BD: In my office, I offer a weekly program for new agents that not only offers an in-depth development on fundamentals, but also training that provides agents the chance to accelerate their business and becomes top producers.
That said, I have specialized courses for agents at different levels of experience – I am passionate about assisting my agents and helping them surpass even their personal goals. I absolutely love helping agents.