Leading Real Estate Companies of the World® (LeadingRE) continues to find new ways to support its members. After a historic 2016, the company, which boasts the world’s market-leading independent residential brokerages in over 60 countries, hired renowned financial journalist Marci Rossell as its first chief economist to ensure its members reach greater even heights this year.
In her new role, Rossell will help LeadingRE’s 550 firms and 128,000 associates gain an understanding of all the economic issues that are relevant to real estate worldwide. This wisdom will prove to be invaluable for the company’s ever expanding network.
“LeadingRE brought me on as their new Chief Economist to provide insight to our members,” Rossell explains. “I am most looking forward to getting to know our members from around the globe. They each bring their own unique perspective from their individual countries and markets that will add depth and colour to my own macroeconomic outlook.”
The Southern Methodist University graduate had a chance to visit with a number of LeadingRE members for the very first time at the company’s annual Conference Week which was held earlier this year.
“I was lucky to come on board with LeadingRE in time to meet many of our members at the conference in Miami Beach, Florida,” she notes. “The energy of the group was invigorating. Sharing my global outlook with them, and getting so much fantastic feedback about their needs, will allow me to craft an outlook for them that they can really use in their own businesses.”
And with that event now over, Rossell will now find fresh ways to show LeadingRE members just how the economy impacts the real estate market. The former economics professor and speaker is able to call upon a wealth of experience to present information in a practical manner that goes beyond numbers.
“Real estate is only one element in the economy, and the economy is only one element that matters for real estate,” Rossell says. “My experience in a broad range of fields allows me to do so much more than just present the real estate-related facts and figures around the economy. I believe it’s more important to put those numbers in a historical perspective and give our members more of the story of how the economy is influencing real estate today.”
Rossell rose to prominence during a stint as CNBC’s Chief Economist where she developed a reputation as a groundbreaking financial journalist. And while most people may know her from this time, she has two decades of economics experience.
“My first position after graduate school was in the research department of the Federal Reserve Bank of Dallas. I was hired right before the Asia Crisis of 1997 and was a first-hand witness to the role that monetary policy can play in stabilizing the economy in a global panic,” Rossell details. “That experience proved invaluable to me in understanding the Financial Crisis of 2008-2009.”
Focusing in on Southeast Asia
LeadingRE has big plans for Southeast Asia and continues to attract more quality real estate operations from the region to its robust network. Indonesia is a market the company has targeted specifically moving forward. It is sponsoring the upcoming Dot Property Indonesia Awards 2017 and will continue to work with Dot Property on new and exciting opportunities moving forward.
“The demographics of Southeast Asia support a vibrant real estate market for years to come. A large portion of the population is just now reaching the age of their first home purchase, with the median age in the region at only 29 years old, well below that of the U.S. (38), Germany (46) and Japan (46),” Rossell points out. “And less than half the population in the region currently lives in urban areas, which means that demand for real estate will stay strong as Southeast Asia moves to a level of urbanisation similar to the U.S. (82 percent) and Europe (75 percent).”
Real estate activity in the region isn’t limited to locals. With affordable prices and ideal destinations, buyers from around the world are now considering purchasing property in Southeast Asia. Prices are relatively low and real estate here can be used as both a vacation home and an income generating investment property.
“I think Southeast Asia could be the next frontier for US buyers of luxury properties. The US dollar has appreciated more than 20 percent since July 2014,” Rossell says. “Because their dollars will now buy more abroad than a few years ago, 2017 could be the time when US buyers look to Southeast Asia for attractive luxury properties.
Marci Rossell joins at an exciting time
This year is shaping up to be another one for the record books for LeadingRE. With more than 4000 offices in 62 countries, the firm is dedicated to a worldwide approach that keeps a local focus.
“Despite the recent rise of economic nationalism in many parts of the world, the globalisation of real estate markets is here to stay. ‘What makes LeadingRE special?’ It provides a local connection to this world of real estate. It’s why I am so excited to join the LeadingRE team,” Rossell concludes.