2024 NAHREP President Nora Aguirre on threats to first-time homebuyers
Today’s RealTrending features Nora Aguirre, team leader of the Nora Aguirre Team of Century 21 Americana in Las Vegas. As incoming president of the National Association of Hispanic Real Estate Professionals, Aguirre knows this year will be like no other. As she and her team navigate the fallout of the recent commission lawsuits, she discusses how first-time homebuyers and minorities may be impacted by potential changes.
She also talks about how she is preparing her team with education on buyer representation agreements and high-touch relationship building.
Here is a small preview of today’s interview. The transcript below has been lightly edited for length and clarity:
Tracey Velt: We are talking on the actual day that the verdict came down in the Sitzer/Burnett case. We’re not going to really discuss the lawsuit itself, but there are impacts that could potentially affect a lot of the people you work with, like first-time homebuyers. People who are already maybe struggling to get a down payment, and now may be paying a buyer agent commission on top of that. Talk to me about what you’re looking for from lenders and what could be helpful for you product-wise moving forward.
Nora Aguirre: The true key here is that our buyers, especially first-time homebuyers, rely on us as professionals to help them navigate through the process. ‘We’re already struggling to buy a home right now, and now you’re telling me that I’m gonna have to pay you this amount?’ We are seeing the possibility of having lender financing for this cost because they’re coming to us and they’re like we know you deserve it, but we don’t have any more money.
Now we’re gonna have to step in there and really figure out what can be done for them. Partnering up with great lender partners is going to be key. It’s not a question of do they want to pay you, it’s a question of how can they pay you if they’re already in this difficult situation.
The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.