Stephen Antoni is a broker associate for Mott & Chace Sotheby’s International Realty. He is also a past president of the Rhode Island Association of Realtors and the Rhode Island Statewide Multiple Listing Service, and he is a past president of the Newport County Board of Realtors and the Kent Washington Association of Realtors. As a native Rhode Islander who has been licensed as a real estate broker for more than 20 years, he was also voted Statewide Rhode Island Realtor of the Year in 2007.
PBN: What impact are national politics and some of the economic decisions made by the Trump administration having on the real estate industry, and how is that impacting your work?
ANTONI: National politics and administration decisions always have an impact on the real estate industry. As the second-largest driver to the national economy, the housing sector is extremely susceptible, and sometimes fragile, as a result of the moves of the White House.
As a full-time professional Realtor, I have to always be aware of the changes affecting the market and have answers for my client's questions as to what this means to them. It means, for me, following all of the industry articles, news and projections to best advise and assist the buyers and sellers I represent.
With all of the current administration's threats of tariffs and continued economic uncertainty, people are constantly rethinking their plans to buy and sell, and it can create a very staccato pace to the process. Today we are looking at homes to consider buying, and tomorrow we are thinking of maybe just remodeling instead.
PBN: What are some of the biggest challenges for you and fellow Realtors right now?
ANTONI: There continues to be a shortage of available homes on the market. When a new listing comes on and the property is priced properly, there is a flurry of activity and multiple offers flood in. The owner naturally wants the highest offer. But that offer may not be the "best" offer. If there is financing involved, the home may not appraise if the offered price is too high. If a home inspection reveals anything the buyer is not happy with, they may just withdraw their offer and walk away, leaving the next buyer to wonder what's wrong with the house.
Another challenge we are experiencing is as the prices continue to escalate, some of the buyers may no longer qualify for their mortgages. Property tax rates, insurance rates, credit scores and employment changes are also very integral to qualifying for a loan and the slightest change could change their "approved" status.
PBN: What are your best tips to prospective home sellers in this market in the Rhode Island area?
ANTONI: Make a plan as to where you are going to go once the home sells. If you are going to be joining the ranks of the buyers now, where are you going? How much can you afford? Do you need to qualify for a loan? Will you be paying cash? Understand that you will potentially be one of the multiple offers on your next home. What is your strategy for getting your offer accepted? Make a plan to start exploring new areas and/or neighborhoods you could see your family moving to. If they already have another home they are moving to, consider starting to move furnishings to the other home and making the home they are selling more move-in ready and available.
Another important strategy is to have great curb appeal. Most buyers today are looking for a home that is ready for them to just move into and start living. A gallon or two of fresh paint and some deep cleaning could be the difference between a buyer making an offer on your home or the next one.
PBN: If you were able to go back in time, what advice would you give yourself as you were just entering the real estate industry?
ANTONI: Invest in real estate. Start small and continue to invest in properties. Rental properties are a great way to build your retirement. When I think of some of the vacant land I have sold over my 27 years in real estate and look at their values now, I literally kick myself for not buying them when they were a fraction of today's price.
What a great idea it would have been to buy the home my family was going to live in and maybe buy a rental property that would eventually be our retirement home somewhere warmer than here. Maybe it would have been a good idea to invest in gold back then as well. It was $294 per ounce in 1998.
PBN: What have been some of the keys to your success, allowing you to record such high volume and surpassing others in Rhode Island in recent years?
ANTONI: I have always tried to live by the "Golden Rule." Treat people the way you would want to be treated. Have respect for all people. I believe that two of the biggest keys to my success have been honesty and reputation. I am passionate about real estate, and I treat every client I work with as I would a member of my family or a close friend. When representing a buyer or seller, I try to exceed their expectations and go above and beyond what they think it is that I am supposed to be doing for them.
At times, the process of moving can be very emotional, stressful, painful, daunting, tedious, difficult, and sometimes it can be exciting, liberating and empowering. I see my job as an adviser and confidant to assist them, and sometimes protect them while we navigate through what often can be an up-and-down process, and then finally guiding them to a safe landing. Earning my client's trust is always my goal.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @Marc_La_Rock.
