Kim Marion is a specialist in luxury homes throughout Aquidneck Island and Rhode Island’s coastal communities, working as a global adviser for Engel & Völkers. Last year, she was recognized as a President’s Circle adviser in the 2024 Elite Club, one of the highest distinctions within Engel & Völkers, representing the top 3% of advisers within the international real estate firm. Prior to joining Engel & Völkers in late 2022, Marion spent many years in marketing, branding and communications, working for companies such as Coastal Medical and the Bristol Branding Group.
PBN: How would you describe the past year in Rhode Island’s real estate market? Have you noticed any key trends or shifts?
MARION: The past year has been marked by low inventory, rising home prices and strong demand despite higher mortgage rates. The shortage of available homes has kept competition high, particularly in desirable coastal and historic areas. Sellers have held on to their advantage due to limited inventory. Buyers seem to be adjusting to higher interest rates and taking advantage of creative financing solutions.
I have seen an increased demand for luxury properties, especially waterfront and historically significant homes. Because the rental market is so strong, multifamily properties have remained in high demand. The market has remained resilient, with well-priced homes continuing to move very quickly.
PBN: What are the biggest challenges you and your firm are currently facing in helping clients buy and sell homes?
MARION: One of the biggest challenges in our market right now is low inventory, which makes it difficult for buyers to find the right home and creates intense competition for available properties. Many sellers are also hesitant to list because they’re locked into low mortgage rates and, knowing inventory is low, are uncertain about finding their next home. Rising interest rates have impacted affordability for buyers, requiring creative financing strategies or adjustments in expectations.
Now, more than ever, it’s important to have a great team that includes a real estate adviser, mortgage lender, home inspector and closing attorney. I focus on strategic pricing, targeted marketing and strong negotiation to help my clients succeed in this competitive landscape. I also emphasize buyer protections in contracts to ensure smooth transactions, even in multiple-offer situations.
PBN: What advice would you give to Rhode Island homeowners who are thinking about selling their property in today’s market?
MARION: The decision to sell a home is deeply personal and goes beyond just market conditions. My advice is to start by discussing your long-term goals with a trusted real estate adviser. While a strong market may mean selling is a great financial move, it’s not the right choice for every homeowner.
Factors like family needs, future plans and even health care considerations often play a key role in deciding whether to move. A good agent will focus on your best interests, helping you create a clear roadmap for the next 10-plus years by evaluating your options pragmatically.
Without being swayed by emotions, you can determine whether selling now aligns with your future. My role is to guide clients through this process with clarity, strategy and confidence, ensuring they make the best decision for their situation. If someone is being told to “sell, sell, sell” without a deeper conversation, they should be wary.
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?
MARION: Selling a home is more than just listing it online – it requires strategy, negotiation and … risk management. While online tools provide exposure, they can’t replace the expertise of a professional real estate adviser. We are not emotionally involved and will ensure accurate pricing, maximizing profit while avoiding costly overpricing. We also provide high-quality marketing, negotiation expertise and contract protection, handling everything from showings to inspections to ensure a smooth transaction.
Additionally, the best advisers have access to a list of house-hunting buyers, increasing the likelihood of a faster, higher offer. Studies have shown that professionally represented homes sell for about 18% more on average compared to for-sale-by-owner sales in recent years, all in less time and with fewer complications.
PBN: How has last year’s National Association of Realtors settlement on commission (now called compensation) rules affected your work as an agent? Have you noticed any major changes in the way business is done?
MARION: The NAR settlement has reshaped how compensation is handled in Rhode Island and across the country. Sellers are no longer automatically expected to cover the buyer’s agent’s compensation, meaning buyers now negotiate and pay their agents directly. This shift has placed a greater emphasis on transparency and value, making it crucial for agents to clearly communicate the value of their experience to the buyers they represent.
In some cases, this change has made purchasing more challenging for buyers, as they must factor in the cost of representation. I’ve had several buyers refuse to look at homes when the seller offered zero toward their adviser representation. In most cases, though, sellers recognize the benefits of offering some compensation to buyer’s advisers to attract more interest. Ultimately, this adjustment is pushing real estate advisers to demonstrate their worth. Those who can’t effectively convey the value of representation will struggle to succeed in this evolving market.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @Marc_La_Rock.
