Emilio DiSpirito is a license partner of Engel & Völkers East Greenwich and Engel & Völkers Barrington East Bay. Throughout his career, DiSpirito notched more than $750 million in closed transactions and assisted over 1,500 clients with buying and selling real estate.
With more than 12 years in real estate sales and over 23 years in sales overall, DiSpirito serves on the board of the Caroline Caprio Brain Tumor Foundation. He is also the host of “The Wealth Architect Podcast with Emilio DiSpirito,” launching in April 2025, and he has 10 years of experience as a host on iHeartRadio, having been featured on more than 100 podcasts.
PBN: How would you describe the past year in Rhode Island’s real estate market? Have you noticed any key trends or shifts?
DISPIRITO: The past 12 months have been an extremely challenging real estate market. Consumer confidence remained low, with only 45% of Realtors in Rhode Island selling at least one home during this period – significantly below the typical 80% to 90%. Buyers faced the highest interest rates since 1990, homes stayed on the market longer and price reductions became common as affordability remained a major concern.
Consequently, many agents were forced out of the business or took second jobs to stay afloat. Additionally, the median age of homebuyers has risen sharply; in 2024, the typical first-time homebuyer was 38 years old, up from 35 in 2023, while the overall median age of homebuyers increased from 49 to 56 during the same period.
PBN: What are the biggest challenges you and your firm are facing in helping clients buy and sell homes?
DISPIRITO: At Engel & Völkers, we work with many clients who are buying and selling simultaneously. In this market, a significant number of buyers find themselves in this position but struggle to find homes that meet their needs, often feeling forced to wait. To address this, we’ve partnered with lenders to develop creative solutions that allow clients to purchase first and sell later or access off-market inventory. These strategies have been highly successful. However, we need more homes on the market – many sellers hesitate to take the leap, contributing to the current inventory shortage. To ease concerns, we structure contingencies that protect sellers, ensuring they can close only when they secure suitable housing.
PBN: What advice would you give to Rhode Island homeowners who are thinking about selling their property in today’s market?
DISPIRITO: Hire a brokerage that specializes in listings. These real estate advisers stay ahead of market trends, often knowing about upcoming inventory and connecting buyers with off-market sellers. Prepare your home for sale, incorporate suitable housing contingencies and actively search for your next property. If you're approaching retirement and are thinking of relocating, work with a brokerage that has locations and access to popular retirement markets, offering warmer climates and lower taxes for a better quality of life.
PBN: With so many online tools available, some sellers might consider listing their homes on their own. What are the biggest advantages of working with a professional real estate agent?
DISPIRITO: Homeowners today have access to more information, tools and resources than ever before. In some cases, selling on your own can make sense – especially if you already have a ready, willing and able buyer who can pay a fair market price without contingencies and accommodate your needs, such as securing suitable housing.
Recently, a client of mine, Daniel Ayotte, who is building a home in Attleboro, found his own buyer just weeks before we planned to list. I was happy to assist him behind the scenes with information, ensuring he achieved the same bottom line he likely would have had on the open market.
Situations like this happen, and at Engel & Völkers, we approach real estate from an advisory perspective rather than a transactional one. Working with an adviser means having a strategic partner who helps you navigate your options, whether that means listing your home or finding alternative solutions.
PBN: How has last year’s National Association of Realtors settlement on commission rules affected your work as an agent? Have you noticed any major changes in the way business is done?
DISPIRITO: Transparency is at the core of everything we do for our clients, and personally, I welcome the changes. The recent National Association of Realtors settlement has shifted how buyer agents earn their fees, requiring them to clearly communicate their value and negotiate compensation. This change is helping sellers and buyers make more informed financial decisions, potentially saving them money.
We're also seeing a natural shift in the industry – agents who were not truly earning their fees are either reducing their rates or exiting the business altogether. This is creating space for high-caliber real estate advisers who bring expertise, strategy and efficiency to the table. Those who provide real value – through market knowledge, negotiation skills and creative solutions – are thriving in this evolving landscape. Ultimately, this shift benefits consumers by elevating the overall quality of service in the industry.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @Marc_La_Rock.
