Gary Roberts has been a sales associate at Mott & Chace Sotheby's International Realty for nearly eight years as part of the Soby-Roberts Team. He is also a veteran of the U.S. Air Force, where he served as an intelligence instructor.
Earlier in his career, Roberts developed an extensive knowledge of construction and building. He resides in South County with his wife and real estate partner, Bridgette Soby, along with their four children. Throughout their time doing business together, the Soby-Roberts Team has achieved more than $300 million in closed sales volume.
PBN: What trends or shifts have you observed in Rhode Island’s real estate market over the past year, and how do you expect these trends to evolve in the coming year?
ROBERTS: We saw a continuation of a strong seller’s market during the spring and summer of 2025 with well-priced properties moving fairly quickly with multiple offers. However, as we moved into fall, overall buyer activity remained consistent, but we began to see buyers become “picky,” in the sense that they were more selective and hesitant to submit offers.
Despite a lack of inventory, the amount of overbidding on properties has seemed to subside, with buyers looking to negotiate off of asking price and inspection contingencies are quite commonplace now, which is something that we did not see an abundance of over the past several years.
Even with interest rate cuts dropping rates hovering at 6% or even below, buyers have grown quite attached to their 3% rates they were able to capture during 2020 through 2022. With regard to the current trends carrying over into 2026, I believe we will see a similar resurgence into the spring market of 2026 as rates will continue to fall, as we [saw] in the spring of 2025.
PBN: How are current economic factors and political factors – such as interest rates, tariffs, inventory levels and buyer demand – shaping the local market, and what impact will they have in the months ahead?
ROBERTS: I believe that overall, many people are feeling the hit of inflation. However, being a casual observer, most restaurants across the state are still full, store parking lots appear steady and tons of delivery trucks [are] on the road, so it's difficult for us Americans to change the lifestyle we’ve grown accustomed to.
Buyers shop at the monthly payment and pay less attention to the rate. If a buyer’s budget is $4,000 per month for a mortgage payment, I don’t believe they care much what the rate is. Savvy buyers and agents use the phrase, “Date the rate, marry the sales price.”
PBN: What are your best pieces of advice for first-time homebuyers in Rhode Island in 2026?
ROBERTS: I don’t think this will ever change – speak to a reputable lender and get preapproved. It will be of no benefit for you to shop for homes that are out of your price point. You wouldn’t waste your time shopping for a Bentley if your car payment budget is $500 per month. Why would you do the same for homes?
Running a close second is that you need to work with a seasoned, professional and experienced buyer’s agent. Your cousin's best friend’s wife may be a very nice person, but if she is a part-time agent that does three or four transactions per year, she probably is not the absolute best choice. You are entrusting your largest financial transaction of your life in someone else’s hands. Ask questions and do your homework.
PBN: What challenges are sellers in Rhode Island facing right now and what advice are you giving your clients as we enter the new year?
ROBERTS: From what I have seen, coupled with conversations I have had with colleagues, some sellers have a distorted view of value. Zillow, realtor.com and other instant valuation websites have never been inside your home. It is an algorithm created on an estimated value based on basic factors of your home with sold properties that share similar factors. It takes a seasoned and experienced agent that works in the market every single day to be able to provide an accurate and fair market value of a property.
My father told me at a young age something is only worth what someone is willing to pay for it. Some people must have the latest and greatest iPhone no matter the cost, while others could not care less. Fortunately for Apple, there are more innovators than there are laggards in the market. While most good agents recognize the anomalies in the market … most good agents won’t take a significantly overpriced listing. Not only is it not a good use of time, money and resources, [but] it does the seller a disservice.
A common perception in the current market is that if the property has a days on market time of 75 or more days, buyers assume there is something wrong with the home. Therefore, even if it is something they would consider, they feel since no one else purchased it, they don’t even want to see it. When in actuality, all that is “wrong” with the property is the price. When this occurs, sellers end up selling for lower than they may have been able to sell for, if they were even priced below market value. Buyers will drive up a price if the value is recognized, but the days of aspirational pricing have faded away.
PBN: As we enter into the holiday season and approach the new year, what was one of the highlights of your 2025 year and why was it special to you?
ROBERTS: My wife – who is my teammate in real estate and everything else in my life – and I have had the privilege to close several dozens of properties in 2025. I do not just take my profession seriously; I take it personally. I am a human before anything else and my motto through everything in life is the golden rule: “So in everything, do to others what you would have them do to you.”
All of the people we have helped either buy or sell, I take a bit from every single one. But if I had to pick only one highlight, it was a text I received from a buyer who I helped purchase a property for his family that generations of his family to come will enjoy. He sent me a text saying, “I just walked outside at the new place, absorbing in God’s magnificent creation … just blown away by His grace, mercy and love. Perspective is everything. Thank you for all you did to help me achieve this.”
From my perspective, being a Realtor isn’t just a job, nor just a paycheck, or a means to an end. It’s a profession that directly impacts our fellow Americans’ lives, their families and their futures. To have the ability to provide that is no small thing.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @Marc_La_Rock.
