This year has had its ups and downs, including the NAR settlement, DOJ scrutiny and copycat suits. Here are eXp CEO Leo Pareja’s top takeaways from 2024.
Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.
As 2024 began, few of us in real estate could have imagined the surprises the year had in store. This unusual year has tested our resilience, adaptability and leadership at every turn.
TAKE THE INMAN INTEL INDEX SURVEY FOR DECEMBER
From the pivotal moment on March 15 when the National Association of Realtors reached its historic settlement with plaintiff attorneys to ongoing scrutiny and Civil Investigative Demands (CIDs) from the Department of Justice — the year has been a whirlwind of challenges and change.
6 takeaways from 2024
Reflecting on this extraordinary year, I’ve gathered some key takeaways that I believe can guide us as we prepare for 2025.
1. The speed of the leader determines the speed of the pack
In times of uncertainty, leadership matters more than ever. Staying decisive, proactive and focused on solutions sets the tone for teams, organizations and even entire industries. These moments demand clear vision and decisive action.
2. Letting go of how we ‘used to do things’ is hard but necessary
This year has forced us to confront the reality that change is inevitable. Whether it’s new rules of engagement, shifts in consumer expectations or regulatory reforms, clinging to the past can hold us back. Embracing change — even when it’s uncomfortable — is the only way to move forward.
3. Standing up for what’s right matters, even if you’re the only one doing it
Advocacy is not always easy, especially when the path is unclear or the support is uncertain. But speaking up for fairness, transparency and ethical practices is non-negotiable. Leadership requires the courage to be vocal, even when it feels lonely.
4. Grace and empathy during confusing times are superpowers
This year reminded me of the challenges of 2008-2009. The market turbulence and uncertainty of 2024 have been reminiscent of those times, coupled with the low transaction count, but what has stood out is the extraordinary way agents have come together.
Despite the noise, they’ve worked tirelessly to help buyers and sellers navigate the complexities of finding their way home. Compassion is a powerful tool in moments of chaos.
5. We must keep the consumer 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 we serve. Buyers and sellers don’t care about our internal complexities — they care about finding a home where they can build their lives and memories. Keeping their needs front and center must remain our guiding principle.
6. Agents aren’t going anywhere
There has been much speculation about the future role of agents in a tech-driven world. Let me be clear: Real estate professionals play a vital role in one of the most emotional, infrequent and financially significant transactions of people’s lives. Guiding families through this process is not just a job — it’s a calling, and it’s not going away.
As we close out this unpredictable year, I’m struck by the resilience of our industry and the people within it. The challenges of 2024 have only reinforced my belief that real estate professionals are among the most adaptable, driven and committed individuals in any field.
Looking ahead to 2025
If 2024 has taught us anything, it’s that change is the only constant. As we step into 2025, I encourage all of us to embrace this reality with open minds and bold visions. Let’s continue to innovate, collaborate and advocate for the future of our industry and the people we serve.
Because no matter what surprises lie ahead, one thing is certain: Real estate is about more than transactions — it’s about guiding people home.
Leo Pareja is the CEO of eXp Realty. Connect with him on LinkedIn or Instagram.