Tag Archives: realtor

Careers in Real Estate: A 2026 Perspective 

22 Jul

By T.W. Shortt 
Broker, REALTY WORLD Knox Realty Group 
Hardin County, Kentucky 

Originally published in The News-Enterprise, April 2021. Updated for 2026. 

When this article first appeared in 2021, residential real estate markets were moving at an extraordinary pace. Homes often sold within days; inventory was limited, and many people viewed real estate as an attractive new career. 

The market for 2026 is different. Inventory has improved in many areas, but affordability, mortgage rates, changing commission practices, and cautious buyers have created a more demanding environment. 

An old saying still applies: “Real estate is one of the easiest businesses to enter, but one of the hardest in which to succeed.” 

Each state has licensing requirements that include education, background checks, examinations, and affiliation with a licensed broker. A person may be able to obtain a license and enter the business in a brief period, but getting licensed is only the beginning. 

A license does not provide customers, listings, experience, income, or a professional reputation. 

Real estate also offers several career paths beyond residential sales, including commercial leasing, property management, appraisal, home inspection, investing, training, transaction coordination, and association management. Still, most people begin as residential sales associates. 

In 2021, the major challenge was a shortage of homes. In 2026, the challenge is helping consumers navigate affordability, financing, pricing, inspections, negotiations, and changing market expectations. 

A new agent needs more than enthusiasm. Success requires a business plan, financial reserves, training, supervision, and patience. 

Choosing the right brokerage is especially important. A new agent should look beyond the commission split and ask whether the broker provides training, contract support, written policies, technology, lead-generation systems, and meaningful supervision. 

Some new agents may benefit from joining a team within a brokerage. A dedicated team can provide mentoring, structure, administrative support, and leads. However, the agent should carefully review the compensation arrangement, ownership of leads, advertising rules, and what happens if the agent leaves. 

Technology has also changed the profession. Buyers and sellers now have greater access to listings, online valuations, virtual tours, electronic signatures, and artificial intelligence. These tools do not eliminate the need for agents, but they do require agents to demonstrate greater value. 

The best agents genuinely care about people, understand real estate transactions, communicate clearly, remain calm under pressure, and guide clients toward a successful closing. 

Real estate can provide a professional income, but success is rarely immediate and never guaranteed. The business usually rewards those who continue learning, serve the public well, and builds a compelling reputation over time. 

Before enrolling in real estate school, a prospective agent should first have an honest conversation with experienced agents and brokers. 

The goal is not merely to obtain a license. The goal is to determine whether you are prepared to build a real estate career. 

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Don’t Let Interest Rates Make the Decision for You

15 Jul

By Doug Witten,

REALTOR at REALTY WORLD Knox Realty Group- KY

If you’ve spent any time watching the news lately, you’ve probably heard plenty about interest
rates. Every time they move up or down, headlines make it sound like the entire housing market
is about to change overnight. It’s easy to understand why many people are asking the same
question: “Should I wait to buy until rates come down?”

The honest answer is: maybe—but maybe not.

One of the biggest financial mistakes I see people make is allowing interest rates alone to
determine whether they buy a home. While rates certainly matter, they should never be the only
factor driving one of the biggest financial decisions of your life.

Instead, start by asking yourself a different question: Am I financially and personally ready to
own a home?

If the answer is yes, then interest rates become just one piece of a much larger puzzle.

Here’s why.

A mortgage interest rate affects your monthly payment, but so do the home’s purchase price,
property taxes, insurance, your down payment, and the length of the loan. Focusing only on the
interest rate can cause you to overlook opportunities that make good financial sense overall.
I’ve seen buyers delay purchasing for a year or two while waiting for rates to drop, only to find
that home prices increased enough to offset any savings they hoped to gain from a lower rate.
None of us has a crystal ball. Trying to perfectly time the market is a difficult strategy, whether

You’re investing in stocks or buying a home.

Life doesn’t always wait for ideal market conditions.
People get married. Families grow. Children start school. Military orders arrive. New jobs create
opportunities. Retirement approaches. Those life events often matter far more than whether
mortgage rates are half a percent higher or lower.

Another important point people sometimes overlook is that mortgage rates aren’t permanent.
If rates decline in the future, homeowners often have the opportunity to refinance into a lower
rate, provided it makes financial sense and they qualify. You can’t usually go back and purchase
the same home at yesterday’s price, but you may have options to adjust your financing later.
That doesn’t mean everyone should buy right now.

If purchasing a home would leave you living paycheck to paycheck or force you to drain every
dollar of your savings, waiting may be the wiser decision. Homeownership should provide
stability and opportunity—not unnecessary financial stress.

Buying because you’re afraid of missing out isn’t a sound financial plan. Neither is waiting
indefinitely because you’re hoping for perfect market conditions.

The best financial decisions are usually made with a long-term perspective.
A home isn’t just another monthly bill. For many families, it’s their largest investment, a place to
build equity over time, and the setting where life’s biggest moments happen. When viewed over
ten, fifteen, or twenty years, today’s interest rate often becomes a much smaller part of the
overall story.

As someone who works with buyers and sellers throughout Central Kentucky, I’ve found that the
families who are happiest with their decision aren’t the ones who bought at the absolute lowest
interest rate. They’re the ones who bought when they were financially prepared, chose a home
they could comfortably afford, and kept their focus on their long-term goals instead of short-term ones
headlines.

Interest rates deserve your attention—but they don’t deserve all of it.
The next time you hear another headline about mortgage rates, take a deep breath. Look at
your own finances, your family’s needs, and your future plans before making a decision.
Because in the end, the best time to buy a home isn’t when the market is perfect. It’s when the
decision is right for you.

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When the Gadgets Fade, Experience Remains

14 Jul

 By T.W. Shortt

Real estate has always welcomed the newest marketing idea. One generation relied on large Sunday newspaper ads. Another depended on flyer boxes attached to yard signs. Later came the Talking House, a small AM radio transmitter placed inside a home so buyers could hear a recorded description of the property while parked outside.

Each innovation seemed modern and powerful at the time. Each promised to change the business. Most eventually faded and were replaced by websites, online portals, social media, QR codes, and now artificial intelligence.

That cycle will continue. Methods change. Human nature does not.

The most valuable skill in real estate has never been mastering the latest gadget. It has always been understanding people, property, and the many moving parts connecting the two.

Buying or selling real estate is not merely a marketing event. It is often one of the largest financial decisions a family will ever make. It can involve deadlines, uncertainty, legal documents, inspections, financing, negotiations, family concerns, and emotional stress. It may also involve probate matters, divorce-related sales, inherited property with multiple heirs, title defects, low appraisals, boundary disputes, tenant complications, or last-minute lender issues. In those moments, people need more than technology. They need judgment, steadiness, and experience.

That kind of guidance is earned over time.

Over decades in the real estate business, one lesson has become clear: lasting success does not come from sales contests, catchy slogans, or the latest trendy video platform. It comes from showing up year after year, solving problems, studying the market, learning contracts, understanding financing, and helping people through real situations with real consequences.

Experience also means leadership. Over time, professionals see the industry from many angles—brokerage operations, agent development, community involvement, changing markets, and the need to maintain standards while adapting.

Just as important is continued education. Real estate is deeper than many realize. Property values, title history, zoning, land use, negotiation strategy, contract structure, local economics, changing regulations, tax concerns, and investment analysis all matters. Serious professionals never stop learning.

In many cases, attention is drawn to the simpler transaction. Yet experienced practitioners understand that the most meaningful work often comes from complex situations—the ones where clients truly need help and where professional skill is tested.

The seasoned professional does not run from complexity. He welcomes the opportunity to bring order to confusion, calm to stress, and solutions to people who may feel overwhelmed. There is real satisfaction in helping a family settle an estate, guiding a divorcing couple toward a fair sale, resolving a clouded title, saving a transaction after financing trouble, or structuring a workable path through inspection problems and closing delays.

That is the side of real estate rarely shown in modern media.

Much of today’s real estate content highlights quick tours, fast pacing, and attention-grabbing presentations. But the true professional is often found behind the scenes—reviewing documents, coordinating with lenders, speaking with attorneys, negotiating repairs, managing timelines, solving unexpected setbacks, and carrying transactions across the finish line.

A strong marketing campaign may generate attention. Experience is what keeps a transaction together when difficulties arise.

That is why the most valuable asset in real estate is still trust built through years of dedication, education, and practical service. Gadgets will come and go. Trends will rise and fade.

But plain experience, steady professionalism, and the ability to handle difficult transactions will never go out of style.

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Why Local Real Estate Expertise Still Wins in a High-Tech World

5 Jul

In real estate, few factors are more valuable than local knowledge. While national companies and online tools offer visibility, selecting an agent who understands the community offers a distinct and lasting advantage. Whether you are buying or selling, working with a local expert increases the likelihood of a smooth, successful transaction. 

Local agents offer more than just MLS access—they provide valuable insights. They are familiar with the unique personality of each neighborhood, the strengths of local schools, and the traffic flow patterns at various times of day. They understand property values on a block-by-block level and can explain why two comparable homes sell at different prices. This understanding enables clients to make informed decisions based on facts rather than guesswork. 

When setting a price, local agents do not rely solely on computer algorithms. They conduct detailed Comparative Market Analyses (CMAs), using recent local sales and market trends. They understand the nuances that impact value, such as lot layout, street appeal, and recent renovations. This pricing accuracy helps homes sell faster and for a higher price. 

Local real estate professionals also have relationships with lenders, appraisers, inspectors, contractors, title companies, and other agents. These networks help solve problems quickly, secure timely services, and bring credibility to their clients’ offerings. A trusted local agent’s reputation can significantly impact the outcome of a competitive negotiation. 

Importantly, many of these professionals are members of their regional trade organizations, such as the Heart of Kentucky Association of REALTORS®. Membership in a REALTOR® association adds a layer of professionalism, ethics, and continuing education. These REALTORS® commit to upholding a strict Code of Ethics, ensuring that clients are represented with honesty and integrity. The Heart of Kentucky Association of REALTORS® has served this area with pride for decades, connecting agents who live here, work here, and care deeply about the community’s future. 

In a fast-paced market, timing is crucial. REALTORS® are required by MLS rules to submit new listings within one business day of publicly marketing the property, as outlined in the National Association of REALTORS®’ Clear Cooperation Policy (MLS Policy Statement 8.0).  However, local agents often learn about homes before they are officially listed—sometimes weeks in advance. A local agent may know of a seller who is still preparing their home for the market and can offer that property as a suitable alternative. This first access gives buyers a valuable head start and gives sellers a competitive edge. Local agents can be there in person, ready to show, advise, and act quickly. And when questions arise, you are not calling a help desk—you are calling someone who knows your street, your goals, and your concerns. 

Conclusion 
Real estate is local, and so is trust. An agent with deep community ties, market awareness, and professional REALTOR® affiliation brings unmatched value to any transaction. Choosing a local is not only smart—it is the best way to ensure success. 

TW Shortt 

Broker@ REALTY WORLD Knox Realty Group, LLC  

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Selling Your Home Without an Agent? Legal Pitfalls Could Haunt You

5 Jul

By TW Shortt, Contributor, Focus on Finance 
Broker/Owner, REALTY WORLD Knox Realty Group — The Fort Knox Office™ 

Selling a home without a real estate agent — known as a For Sale by Owner (FSBO) transaction — may look like a way to save money on commissions. But many homeowners underestimate the legal complexities of real estate deals, exposing themselves to risks that can outweigh any savings. 

Disclosure Requirements: More Than Meets the Eye 

One of the biggest mistakes FSBO sellers make is failing to properly disclose problems with the property. In Kentucky, as in most states, sellers are legally required to reveal known issues such as foundation cracks, water damage, roof leaks, or pest infestations. 

Some sellers assume “buyer beware” applies. It does not. Even honest mistakes on disclosure forms can lead to lawsuits after the sale closes. Courts have repeatedly held sellers accountable for failing to disclose material defects—even when the buyer ordered their own inspection. 

A famous New York case, Stambovsky v. Ackley (1991), illustrates the point. There, a seller had advertised her home as haunted in magazines and newspapers. When the buyer later discovered the home’s ghostly reputation, the court allowed him to back out and reclaim his down payment. Known as the “Ghostbusters case,” it showed that sellers can be held liable not only for physical defects but also for reputational issues tied to the property. 

Contracts: Not a Do-It-Yourself Job 

Another common pitfall in FSBO sales is improper or incomplete contract drafting. Real estate purchase agreements must comply with state and sometimes federal law. Leaving out key terms can spark costly disputes. 

Essential details such as inspection contingencies, title conditions, deadlines, closing procedures, and remedies for breach are often overlooked in do-it-yourself contracts. Sellers who rely on generic forms pulled from the internet may end up with vague or unenforceable agreements, increasing the chances of litigation. 

Why FSBO Deals Often End in Dispute 

Disputes in FSBO transactions are common for three reasons: 

  • Incomplete Documentation – Missing or unclear terms create confusion and conflict. 
  • No Neutral Party – Without an agent or attorney, there is no one to mediate or flag problems early. 
  • Emotional Stakes – Selling your own home can cloud judgment, leading to personal reactions during negotiations. 

Without professional guidance, even experienced sellers can miss crucial steps that protect their legal and monetary interests. 

The Bottom Line 

FSBO transactions may seem like a way to save money, but they are fraught with legal landmines. From disclosure requirements to contract details, the risks are real—and in many cases, far more expensive than paying a commission. 

As the “haunted house” case of Stambovsky v. Ackley reminds us, what you do not disclose can come back to haunt you. 

This article is for informational purposes only and does not constitute legal advice. If you are considering selling your home without a broker, consult with an attorney. 

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The First Rain After Closing: When the Basement Tells a Different Story  

4 Jul

A veteran Kentucky real estate broker explains disclosure duties, buyer protections, and why most wet-basement disputes are resolved through settlement rather than court.  

Most brokers can say with confidence that very few things unsettle a new homeowner faster than a flooded basement — especially when it happens right after closing. Most experienced brokers have seen this situation many times, and while it feels catastrophic now, it is rarely unmanageable.  

Kentucky does not promise buyers a perfect house. Older homes come with quirks, maintenance issues, and sometimes water. What Kentucky law requires is honesty. Under KRS 324.360, most sellers of one-to-four-unit residential property must complete a Seller’s Disclosure of Property Condition before closing. That form specifically asks about basement water, leaks, flooding, and related repairs.  

Agents and brokers take that responsibility seriously. When representing sellers, experienced brokers insist that disclosures be completed fully and truthfully, not treated as a formality rushed through at the end of a deal. When representing buyers, most brokers push for the Seller’s Disclosure early in the transaction — not days before closing — so potential issues can be identified, evaluated, and priced appropriately. In practice, early disclosure prevents more disputes than almost any inspection clause ever could.  

When a basement floods shortly after purchasing, the real question is not whether water entered the home, but whether the seller knew the problem was recurring and failed to disclose it. Kentucky law requires disclosure of latent, or hidden, material defects — problems a reasonable buyer would not discover during a normal walk-through or inspection. Chronic water intrusion, past flooding concealed by fresh paint, or a sump pump that only works on dry days are classic examples.  

Many brokers have handled transactions in which buyers later discovered long-standing water problems, and they have also seen cases where the issue was an unexpected failure or an unusually heavy storm. The difference matters. Courts — and more importantly, negotiators — look closely at what the seller disclosed, what was visible, and what the buyer’s inspector noted. Kentucky cases such as Fenske v. Oddo and Waldridge v. HomeServices of Kentucky reflect what brokers see every day: buyers have stronger positions when problems were concealed, and weaker ones when warning signs were present but ignored.  

From a practical standpoint, the first few days after discovering water are critical. Most brokers advise buyers to document everything: photos and videos of standing water, water lines on walls, damaged property, and any visible mold, along with notes about when the water appeared and under what conditions.  

Next, professionals should be brought in. Waterproofing contractors, foundation specialists, or plumbers can often tell whether a problem is new or has existed for years. Written estimates and professional observations often serve as the foundation for resolution.  

Then, attention returns to the paperwork. The Seller’s Disclosure form, inspection report, repair invoices, and even emails or text messages often tell the real story. In most brokers’ experience, disputes are resolved by documents far more often than by arguments.  

Most buyers are surprised to learn that these cases rarely end up in court. Once repair costs are clearly identified and the seller’s disclosures are reviewed, resolution is usually straightforward. Sellers may contribute toward repairs; insurance coverage may apply, or the parties may reach a negotiated compromise. Because litigation is costly, time-consuming, and uncertain, most people choose a practical solution — one that restores the home and allows everyone to move on.  

That said, buyers should speak with a Kentucky real estate attorney before confronting a seller or agent. A lawyer can evaluate the facts, explain deadlines, and help frame a demand that encourages resolution rather than escalation.  

Based on how these situations are typically handled, the guidance from experienced brokers is consistent: insist on disclosure early, document problems thoroughly, rely on qualified professionals, and focus on practical outcomes. Water problems are stressful, but with transparency and experience on all sides, they are often solvable — and usually without a courtroom.  

By TW Shortt, CRB  
Broker/Owner, REALTY WORLD Knox Realty Group 

Disclaimer: This column is for general informational purposes only and is not legal or tax advice. It does not substitute for consultation with a licensed attorney regarding your specific situation.  

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Will Artificial Intelligence Replace Real Estate Agents? 

4 Jul

The short answer is yes—but not immediately, and not without some important qualifications. 

Anyone paying attention to the rapid development of artificial intelligence can sense that meaningful change is approaching and approaching quickly. Even casual users of AI tools recognize how quickly the technology is evolving. Professionals who spend their workdays analyzing data, processing information, and communicating with clients increasingly ask a simple question before beginning almost any task: Can artificial intelligence help with this? 

Often, the answer is yes. 

Recently, while discussing the renovation of a commercial building with a client, we wondered what the property might look like after certain improvements. Within seconds, an AI system showed the upgraded building. Moments later, the same system produced rough renovation cost estimates and a preliminary pricing memo. Tasks that once required days of research and consultation were completed in minutes. 

Experiences like this are becoming common across many industries, and real estate will not be immune to this technological shift. 

In fact, the industry is already experiencing structural change. One of the most significant developments in recent years involved federal antitrust litigation against the National Association of Realtors regarding commission practices within the Multiple Listing Service (MLS). In Burnett v. National Association of Realtors (W.D. Mo. 2023), a federal jury concluded that certain industry rules related to buyer-agent commissions could restrain competition. Following the verdict and related litigation, NAR agreed in 2024 to a nationwide settlement exceeding $418 million and adopted new rules affecting how commissions are communicated through MLS systems. At the same time, the U.S. Department of Justice has continued examining brokerage practices across the country. 

For decades, the MLS system helped structure cooperation between brokers by allowing listing agents to offer compensation to buyer agents. As those rules evolve, one of the traditional pillars supporting the brokerage model has begun to weaken. 

Another traditional role of real estate agents has been pricing property. Yet it is becoming increasingly difficult to argue that human judgment alone can outperform modern data systems. Artificial intelligence can analyze thousands of comparable sales, neighborhood characteristics, economic indicators, and pricing trends within seconds. Automated valuation models continue to improve, and as their accuracy increases, consumers will place greater confidence in these systems. 

At the same time, buyers and sellers now have unprecedented access to real estate information. Online platforms such as Zillow, Redfin, and Realtor.com allow consumers to examine listing histories, review neighborhood statistics, estimate property values, and even take virtual tours of homes—often without ever speaking to an agent. Much of the information that was once required for a professional intermediary is now available directly to the public. 

Looking ahead, it is not difficult to imagine the next stage in the evolution of the real estate marketplace. A fully integrated AI platform could allow property owners to list homes directly while buyers enter detailed search preferences. The system could instantly match buyers and sellers based on price, location, and property characteristics. Showings could be scheduled automatically, and self-guided tours could become routine. Agents might enter the process later, assisting primarily with negotiations, legal matters, or complex transactions. 

In such a system, artificial intelligence would perform many of the routine tasks currently handled by agents. Listing distribution, buyer searches, comparative market analysis, marketing materials, and document preparation could all be automated. 

However, the disappearance of real estate agents is unlikely to occur overnight. 

Real estate transactions involve large financial commitments, legal complexity, and emotional decision-making. Many buyers and sellers still value experienced guidance when making one of the most important financial decisions of their lives. Negotiation skills, local market knowledge, and the ability to manage complicated transactions remain in areas where experienced professionals can add real value. 

The challenge for agents is not to resist technology but to adapt to it. 

Those who learn to use artificial intelligence as a tool—while strengthening their negotiation skills, local expertise, and advisory roles—will continue to find opportunity. Those who ignore it may eventually discover that the profession they once knew has changed beyond recognition. 

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