Today on Talking Manhattan, Noah and John sit down with Trove founder and Compass powerhouse Ian Slater. Ian is another member of the $1B+ club, and his wealth of experience is on display here. He discusses the Manhattan real estate markets as they transition into 2024 and, hopefully, a nascent recovery. Ian shares his unique perspective, having experienced his best year in 2023 against a backdrop of varied market conditions. He addresses the challenge of low inventory, the impact of interest rates, and the shift toward luxury and off-market properties. Additionally, Ian emphasizes the importance of data analysis, trustworthiness, and providing valuable advice to buyers and sellers to navigate the market's complexities. Good stuff, as always!

Highlights:

01:50 - 2023 Market performance and its impact on business

03:25 - Challenges with low inventory and hesitant sellers

06:00 - Trends in new dev for 2024

07:50 - Renovation challenges and market dynamics affecting decisions

10:10 - The psychology behind buyers' preference for off-market properties

15:00 - The role of data in advising and gaining trust from clients

20:25 - Importance of knowledge and relationships in real estate

Trove's Page:

https://www.trove-partners.com/

Ian's Page at Compass:

https://www.compass.com/agents/ian-slater/

Connect with Ian on LinkedIn:

https://www.linkedin.com/in/ian-slater-53688124/

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Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/