Ahead of the Curve: EXIT Realty's Dawn Houlf on Navigating Real Estate's New Reality

Written by:

Rudi Davis

Date:

16 Dec 2024

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Dawn Houlf, owner and managing broker of EXIT Realty Number One in Las Vegas, has been ahead of the curve since purchasing her first property at age 18. Now, with nearly four decades of real estate experience and a track record of entrepreneurship across five industries, she’s helping her agents navigate one of the industry’s most significant transitions.

While many brokerages scramble to adapt to the post-NAR settlement era, Houlf’s agency stands uniquely prepared. “It personally doesn’t impact my business because I’ve always used a BBA (buyer’s broker agreement) since the beginning,” explains Houlf. “I’ve trained my agents since day one to use it, even when it wasn’t a requirement.”

Her approach stems from a fundamental belief that real estate professionals should position themselves alongside other experts. “It’s no different than working with a CPA, an attorney, or a doctor,” she notes. “You’re paying for expertise and knowledge. A CPA and attorney won’t work with you without a letter of engagement and money upfront. You have to elevate yourself to that same level.”

Operating in Las Vegas, North Las Vegas, Henderson, and surrounding areas, Houlf has developed a comprehensive 12-week training program to ensure her agents can articulate their value proposition effectively. The program begins by establishing financial goals and working backward to determine necessary transaction volumes. Agents receive weekly assignments and participate in role-playing exercises to master contract explanations and client conversations.

“Each individual agent has something different to offer,” Houlf emphasizes. “Steve will have something different than Andrea, and Andrea will have something different than Katie. We help each agent develop their unique value proposition based on their background and approach to business.”

Despite industry turbulence, the Las Vegas market remains robust under Houlf’s watch. With median prices around $545,000-$550,000 and only 8,000 properties available citywide – representing a 4.5-month supply – the market continues to move briskly. “Each market segment is moving, and it moves fairly fast if it’s priced right, looks good, and is in a good area,” she observes.

Looking ahead to 2024, Houlf predicts significant industry changes. “I think 20 to 30% of agents will be out of the business by the end of the year because they don’t know how to navigate these conversations,” she warns. The market will likely see a mix of flat-fee agents charging set amounts and those maintaining percentage-based commissions, creating a more diverse and competitive landscape.

As for the perennial concerns about interest rates, Houlf takes the long view. “I don’t care what the interest rate is because somebody has to buy or sell, whether it’s 3% interest or 20% interest,” she states, recalling her first property purchase at 12.5% interest. “When I explain to buyers and sellers that this 6-7% interest rate is nothing – it’s a drop in the bucket compared to the 16.81% average in 1981 – it puts things in perspective.”

Currently focused on preparing her agents for 2025, Houlf emphasizes the importance of maintaining momentum through the holiday season. “Whatever they do now will set their year for 2025,” she advises. “Most agents slow down and don’t prepare, then their first quarter suffers. We’re in business plan mode, meeting one-on-one to ensure they’re ready.”

This forward-thinking approach, combined with her deep industry experience and commitment to agent development, positions Houlf and EXIT Realty Number One to thrive in real estate’s new era, where success will increasingly depend on clearly articulated value propositions and professional service standards.