Derek Simpson is a sales associate at Residential Properties Ltd. He is a native Rhode Islander who has lived in downtown Providence for more than 13 years. Simpson, a graduate of Bates College with a degree in economics, became licensed in real estate in 2020, developing a focus on homes on the East Side of Providence, along with high-rise residential condos.
While working as a real estate agent, Simpson completed his first personal "home flip" on the East Side, learning firsthand how to preserve the historic character of a home while updating the space for modern needs.
PBN: Looking back at 2025, what has your past year been like in the real estate profession?
SIMPSON: The first word that comes to mind to describe 2025 in the real estate profession is: unpredictable. We started out the year much like 2024 – low inventory, incredible buyer demand (especially on the East Side of Providence) and bidding wars – all the same ingredients that have been driving our incredibly strong market over the last four to five years.
I remember one of the first homes to list on the East Side below the $1 million mark back in January – I believe that home received nine offers and sold for 10% over asking. As the year progressed, and things happened in the world economy, buyers started to pull back, a sensibility set in and we began to see signs of a more normalized market. The market is still strong and still favors sellers – but buyers finally have some power – and that’s exciting.
PBN: Now in 2026, looking ahead, what are your expectations for the new year, in terms of the Rhode Island market, buyer and seller behaviors, and how this may all impact your career?
SIMPSON: No one has a crystal ball, but I believe that 2026 will see more available inventory, greater opportunities for buyers and lower interest rates. Sellers will need to be smart about pricing – the aspirational pricing times are behind us. Our market is still strong, demand for fairly priced homes – especially those that are renovated – is still high, but sellers can no longer bank on double-digit price increases year over year. These factors should bring buyers that have otherwise been shutout back into the market, which is exciting for everyone – buyers, sellers and agents alike.
PBN: Inventory challenges have been a recurring theme in Rhode Island. What are you telling clients about how to navigate these difficulties?
SIMPSON: Lack of inventory remains an issue, but the good news is that we are trending in the right direction. More homes are becoming available, active listings have increased and this is all good news for buyers. I am telling my clients to remain optimistic – the market is shifting and opportunities exist. Price reductions are also on the rise; buyers are generally no longer willing to overpay – and this can be sobering for sellers who have seen their neighbors get several offers above asking price over the last few years.
PBN: As technology, marketing tools and client expectations evolve in an age of artificial intelligence and ever-increasing smartphone connectivity, what changes are you seeing in how real estate professionals need to operate to stay competitive in 2026?
SIMPSON: In the age of ever-increasing technology, real estate professionals need to offer specific knowledge, personalized service and true guidance. AI cannot account for taste – individualized attention from an experienced agent can give buyers and sellers the advantage needed in this complex market. Solid advice, based in fact and experience, and honesty is the key to a successful agent-to-client relationship. Choosing the right agent to be your advocate in this market is crucial.
PBN: What keeps you most optimistic about Rhode Island real estate, the market and the profession in 2026?
SIMPSON: I truly love what I do – real estate is my passion and I’m grateful for the opportunity to work with clients and guide them in this incredibly important life decision. Rhode Island is a great place to live, and in many cases offers a great value in relation to Boston and New York metro areas. Desirability for our state and communities continues to increase and I look forward to meeting new clients and reaching new highs in 2026.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @Marc_La_Rock.
