Real Estate Leaders Gather in Washington DC to Discuss the Market

FOR IMMEDIATE RELEASE

Contact:	Susan Harrison
	Senior Vice President
	EXIT Realty Corp. International
	Phone: (888) 668-3948
	E-Mail: sharrison@exitrealty.com

Friday, September 29, 2023

Real Estate Leaders Gather in Washington DC to Discuss the Market

Bronx, NY – Real estate leaders from across the nation including Anthony Domathoti, Broker/Owner of EXIT Realty Premium, Bronx, NY and Tami Bonnell, Co-Chair, EXIT Realty Corp. International, gathered in Washington, DC recently for the RISMedia 2023 CEO & Leadership Exchange.

 

The conference was held at The Mayflower Hotel in Washington, DC and addressed topics such as the state of the economy, current housing policy and staying current as the industry evolves.

 

Mr. Domathoti was recognized as a RISMedia 2023 Newsmaker in the Achiever category. "I'm profoundly humbled and grateful to be awarded the 2023 RISMedia Newsmaker Award, representing the values of homeownership, advocating for private property rights, and making RPAC a top priority in my endeavors,” he says. “When you embark on a path driven by your passion and dedication to a cause, you rarely seek recognition. However, when that recognition does come your way, it serves as a powerful affirmation that your efforts are indeed on the right path and that the decisions you've made align with your principles and goals.”

 

Mr. Domathoti goes on to say, “I believe that true recognition isn't just about personal achievement; it's a testament to the collective efforts of a dedicated team and a supportive network. Together, we champion the dream of homeownership, protect the vital principles of private property rights, and make RPAC an integral part of our advocacy. This nomination is a reminder of the importance of our work and the impact we can have when we unite for a common cause. It's a privilege to be a part of this prestigious recognition, and I'm excited to continue our journey of positive change and meaningful contributions to our industry."

 

Mrs. Bonnell addressed the gathering on the subject of leading through changing times.  “Our industry is going through a shift. We’re seeing that the companies which were led transactionally are struggling, while the compassionate, transformational companies are doing well,” she said.  “To me, leading with compassion and creating a people-first culture is a key differentiator between a transformational business and a transactional one.”

 

Ongoing affordability challenges are persistently restraining market activity in the Bronx and surrounding areas, resulting in a state of inertia for both buyers and sellers. This situation is primarily driven by the volatile fluctuations in mortgage interest rates, which have seen a significant increase compared to the same period last year.

 

As a consequence, prospective buyers are hesitant to enter the market. The combination of elevated property prices and the burden of higher borrowing costs has deterred them from taking action. This, in turn, has led to a noticeable decline in existing-home sales.

 

Simultaneously, a substantial number of potential sellers, who currently enjoy low-rate mortgages, have opted to delay their selling decisions. They are holding out in the hopes that market conditions will improve in the future.

 

This collective delay in selling is further intensifying an already constrained supply of available homes, which is subsequently driving property prices even higher.

 

For more information on the local real estate market, please contact Anthony Domathoti at anthony@exitpremiumrealty.com or 646-696-1563.

 

About EXIT Realty: EXIT Realty is a company founded and built on human potential. A full service, forward-thinking, real estate franchisor with offices across North America, EXIT has to-date paid out more than a half a billion dollars in single-level residual income to its associates. A portion of every transaction fee received by EXIT Realty Corp. International is applied to its charitable fund, and to-date, $7 million has been allocated to charity. For more information, please visit www.exitrealty.com and www.joinexitrealty.com.

 

 

 

Documents and/or Photos available for this release:

Anthony Domathoti, Broker/Owner EXIT Realty Premium
Tami Bonnell, Co-Chair, EXIT Realty Corp. International

To view supporting documents and/or photos, go to www.enr-corp.com/pressroom and enter Release ID: 443574