Tom Wegner is a sales associate for Residential Properties Ltd., working out of the firm’s Barrington and Providence offices. He joined the brokerage in January 2023 after previously serving as a sales associate and sales manager in Providence for Lila Delman Compass.
Licensed in Rhode Island and Massachusetts, Wegner began his real estate career in the 1980s at his family’s offices in New Jersey and has lived in New England for more than 30 years. His practice includes luxury properties, estate sales, waterfront and historic homes, relocations and first-time buyers. In January, Wegner co-represented the seller in the $2.47 million sale of 4 Pine Tree Lane in Lincoln, the highest residential sale recorded in that community.
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?
WEGNER: The biggest shift in 2025 was the lessening of choice for the consumer of independent brokerages. With all these corporate mergers and acquisitions, franchises, etc., it is a disadvantage to sellers and buyers when looking for a brokerage, and ultimately an agent, that can best represent their needs.
PBN: How are current economic and political factors – such as interest rates, tariffs, inventory levels and buyer demand – shaping the local market, and what impact do you anticipate they will have in the months ahead?
WEGNER: Fear of the unknown has put a pause in the minds of some buyers and sellers. People are in a “wait and see” mode with regard to policies, economy, industry changes, etc. – unless they are in a position such as relocation, estate, or some other life-altering event that gives them no choice but to sell or buy. With that said, the real estate market in many parts of the state still seems to be doing very well.
PBN: What's your best piece of advice for first-time homebuyers in Rhode Island who are trying to find a new place to live in 2026?
WEGNER: Don't give up. There are still some deals out there. Follow the 80/20 rule – if you like or can live with 80% of a property, the other 20% can be dealt with in time or made to work. Buying is still a much better alternative to renting.
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?
WEGNER: One challenge is making the shift in the minds of sellers that we are not at 2022-2023 pricing. More inventory is on the market, prices are stabilizing, we are seeing price reductions, etc.
The best advice is not to jump to the highest-end range your real estate adviser is giving you when setting the initial price. It's a much better strategy to price lower and let the market drive it up or dictate the price.
PBN: As we delve into the new year, tell us one of the highlights of 2025 and why it was special to you?
WEGNER: We have had one of our most successful years ever. The highlight for me is the same as it is every year – having the opportunity to work not only in the luxury real estate market but also in helping first-time buyers get their first house and start the journey of building equity and, most importantly, a home.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @Marc_La_Rock.
