The real estate industry needed a jolt of optimism, and it got it in December when the Fed implied there would be as many as three rate cuts in the next 12 months. That’s a nice way to start 2024.

I’m no prognosticator — check out our 2024 industry predictions from those in the know. But I’ve heard real hopefulness in brokerage offices, lending firms and day-to-day interactions with industry professionals since that Fed news in mid-December. There’s belief that 2024 is going to be better for real estate than 2023. Fingers crossed.

Some of that positivity is evident in this month’s cover story, which asks the CEOs of Guaranteed Rate, @properties Christie’s International Real Estate and Tracy Cross & Associates for their market outlook and what needs to happen for a successful 2024. I think you’ll find the answers from Victor Ciardelli, Thad Wong and Erik Doersching illuminating.

Be sure to check out the results of this month’s online survey, which asked if the bar should be raised on the requirements to receive a real estate license in Illinois. Most of the respondents seem to be in agreement on that issue.

In this issue, you’ll also find NAR President Tracy Kasper’s thoughts on the year ahead, plus tips on building an effective business from Top Coach columnist Shy Bundy of John L. Scott Real Estate.

We also highlight tips for lead generation and a study of recent homesellers that shows the value in working with a good agent.

As always, I hope you enjoy what you find in the magazine, and I’m wishing all of you a productive and lucrative 2024. Happy new year!