MICHAEL PEREIRA, principal broker for East Greenwich-based real estate agency June Realty, was chosen by his peers in the Rhode Island Association of Realtors as the 2022 Rhode Island Realtor of the Year. Pereira, who has been a Realtor for the past 19 years, has served as treasurer, president-elect and president of the Greater Providence Board of Realtors, and as a board director and member of the executive team of the Rhode Island Association of Realtors. He also has served on the board of directors of the National Association of Realtors and on numerous committees for the Greater Providence Board of Realtors, including the shared services, finance, technology and grievance committees.
What does it mean to you to be named Realtor of the Year? This means that not only does my hard work and dedication pay off but in the eyes of my industry peers, I have added value to the real estate industry. This means that I have paid back in many ways through leadership and volunteerism to an industry that has helped me create a better life for me and my family.
What initially led you to having a career in real estate? I was the store manager of Durfee Hardware in Cranston, which many know is prided on exceptional customer service. During my tenure there, I met a Realtor, now retired, who really piqued my curiosity. She was always so busy and happy and had the freedom to do whatever she wanted, so I figured that I have excellent customer skills coupled with a vast knowledge of everything related to houses – the perfect mixture to be a real estate agent. Don’t get me wrong, I absolutely loved working at the hardware store, but the thought of the freedom and unlimited income potential had me hooked. I got my license shortly thereafter and the rest is history.
How has the real estate market been this past year from your perspective? The real estate market has been very advantageous for many people, and I am talking about both buyers with low rates and sellers with high prices. Yes, Realtors and many of our affiliated industries did great as well, but you really earned it considering how complicated the market was – let’s not forget how fast-paced and demanding, too. I was more exhausted [these] past two years than any other in my 19 years in the business, but you just grind it out because that’s what you signed up for when you took the oath.
What do you feel the market will be like in 2023? Will it remain fast-paced, or do you feel it will slow down? There will definitely be a market correction; interest rates and home prices always adjust in the opposite direction, and these rate hikes came quickly. I don’t necessarily see a slowdown unless inventory outweighs demand, and right now inventory is still very low. What we will see is pricing adjustments to match rates so that buyers are comfortable with the monthly payment. We are currently in a mixing pool, as many buyers are priced out or are holding out for prices to adjust.
