DONALD PARSONS, broker and owner of Johnston-based Cullinan Real Estate, was recently appointed the president of the Greater Providence Board of Realtors during the organization’s annual meeting at the Providence Marriott Downtown. Parsons previously served as the board’s president-elect, treasurer and corporate secretary. He is also a member of the board’s executive, finance, governmental affairs, housing opportunities, and nominating committees. Parsons is also a director of the Rhode Island Association of Realtors, and a member of the Connecticut and Massachusetts associations of Realtors.
Can you describe some initiatives you have helped the association create during your time on the board? Most of the initiatives have been geared towards the continued growth of our board. We have been working really hard on growing our committees and engaging Realtor members as volunteers whether on a micro-opportunity basis or on an extended commitment. Additionally, we are committed to being active and giving back to our communities.
What are your plans as the association’s board president? My term began Oct. 1. As president, my main objective has been the continued growth of our membership – Realtors, as well as affiliate members. I have been focusing on key individuals and organizations that will have the most positive impact on our board’s future. Last month, we worked to develop our strategic plan for the coming years, so I look forward to implementing the outcome of that.
How is Airbnb affecting home sales in the area? The biggest impact tends to fall on the rental market, as well as the hotel industry. When property owners are choosing to rent their space by the day for a premium, it makes it harder for individuals to find affordable rentals. Investors are coming in willing to pay more for properties based on what you can get for it on Airbnb.
What is the outlook for home sales in the Greater Providence area in the coming months? I estimate that home prices will continue to level off going into the first quarter of 2020, and with interest rates remaining in the 3% range, it makes for a great time to both buy and sell a home.
