Shannon Buss is the newly named 2020 president of the Rhode Island Association of Realtors. She is a longtime agent and professional with Randall, Realtors, where she is responsible for agent recruitment, development and training support.
Buss spoke to the Providence Business News about the current market in Rhode Island.
PBN: You recently served as professional-development manager for Randall, Realtors. What did you learn from that job?
BUSS: One of the reasons why I love teaching so much is I am constantly sharpening my own skills. First, to be able to deliver the best information to our agents. But second, while I’m in the different offices and in conversations with the agents, I’m picking up what other people are doing. So, it’s constantly keeping me on my toes.
PBN: What is the market like now in Rhode Island compared to last year?
BUSS: We’re starting to see a little more inventory. I would say, at this time last year, we were begging for inventory. There is more to choose from now. This is a funky time of year, because a lot of people take their properties off the market. But I always tell my clients, and agents, that there is a real opportunity to have your property listed. You’ve got serious buyers. You’ve got less inventory, which for a seller means you’re more likely to: A – get sold; and B – get the money you want.
PBN: Given the market changes, is it more of a balanced market now between buyers and sellers?
BUSS: No. We’re not there yet. It’s still a seller’s market. We have added just slightly more inventory.
PBN: How is housing affordability playing out in home sales?
BUSS: I live in Newport. It’s sometimes more money to rent a property than it is to buy it because the rental prices are so [high].
PBN: What are your priorities for your upcoming year as president?
BUSS: Personally, I’m always on a mission to get as many Realtors in the education seats as I can. It’s our biggest asset. We don’t know when the market is going to change. When it does, we need to be ready.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
