By Joseph E. Seagle, Esq.

👋 Happy Friday! Today is the last Friday of Daylight Standard Time until November. Don’t forget to spring your ⏰ clock forward one hour on Sunday morning.

1 big thing: FL Legislature accuses insurers of hiding profits to get favorable laws in 2022

Florida House Speaker Daniel Perez has ordered legislative hearings into allegations that insurance companies shifted billions to affiliates while claiming financial distress to justify rate hikes. A recent investigative report by the Tampa Bay Times revealed that while insurers reported losses, their parent companies and affiliates made substantial profits.

Why It Matters: Florida's volatile insurance market directly impacts property transactions for real estate professionals, including realtors, mortgage brokers, and title insurance agents. Skyrocketing premiums and insurer insolvencies have created uncertainty for homebuyers and investors alike.

The Big Picture:

• The 2022 study uncovered that Florida-based insurers distributed $680 million in dividends and redirected billions to affiliates while claiming financial losses.

• Lawmakers had been unaware of these financial maneuvers when passing legislative reforms aimed at curbing litigation against insurers.

• Regulators are now seeking stricter oversight of affiliate transactions, with calls to redefine what constitutes "fair and reasonable" fees between insurers and their affiliates.

What’s Next:

• Legislative hearings, which will involve subpoenas for witnesses and investigators, will examine potential abuses in the insurance sector, potentially leading to new regulatory measures.

• Realtors may face increased scrutiny from buyers concerned about high premiums, affecting demand for homes in high-risk areas.

• Mortgage brokers and title agents must stay informed, as shifting insurance regulations could alter closing requirements and lender risk assessments.

• New legislation will likely come from the hearings, and insurers could see at least some of their hard-won favorable 2022 reforms repealed. For instance, it could again be easier for customers to sue their insurers for claim denials.

Between the Lines: This development could validate long-standing concerns about insurer practices in Florida. If new reforms emerge, they could stabilize the market—but also bring tighter compliance requirements for real estate transactions.

The Bottom Line: For real estate professionals, these hearings could be the first step toward greater transparency in Florida’s insurance sector and rebalance the scales of justice away from insurers and back toward their customers. In the short term, uncertainty may persist, but long-term reforms could create a more predictable and fair market for buyers, lenders, and agents alike.

2. Five years after the pandemic, real estate markets have shifted

The pandemic sparked a historic realignment in the housing market, with lasting consequences. Many urban dwellers relocated to suburbs and smaller cities, fueling demand for larger homes and reshaping market dynamics. Even years after lockdowns ended, low interest rates, shifting buyer preferences, and remote work continue to influence property values, transaction volumes, and market strategies.

By the numbers:

• Remote-friendly areas saw median home prices rise by up to 40% between 2020 and 2022.

• Urban rental vacancies doubled at the height of the pandemic, but have since returned to near pre-pandemic levels.

• Mortgage rates fell to historic lows, driving a refinancing boom and increasing affordability for first-time buyers—before rising again in subsequent years.

Why it matters: For real estate entrepreneurs—realtors, mortgage brokers, title insurance agents—these changes underscore the need to stay adaptable.

• Realtors: Keep a pulse on emerging markets and changing buyer priorities to better target listings and marketing efforts.

• Mortgage brokers: Offer guidance on navigating the current higher-rate environment, including alternative financing options or niche loan products.

• Title agents: Prepare for ongoing high transaction volumes in key regions and ensure seamless and secure digital closings.

What’s next: Expect a more balanced market as we move away from the pandemic’s immediate impact. However, the shifts in buyer b ehavior, interest rates, and demand patterns aren’t fully reversing. Staying ahead means recognizing and responding to these long-term trends.

Go Deeper: MPA Mag Online - Five Years Later, How the Pandemic Reshaped the Real Estate Market

Many real estate entrepreneurs use virtual assistants for everything from booking appointments to finding properties to getting contracts signed. But then you have to deal with the hassle of going to a closing or trying to find a time to meet with a notary to sign your documents. A land trustee can add one more level of convenience for busy real estate entrepreneurs. That’s what I’m discussing this week.

 Listen in or watch on your favorite streaming platform.

3. Catch up fast

1. The U.S. economy has been thrown into reverse, according to the Atlanta Fed’s GDPNow tracker. Fortune & Atlanta Fed

2. U.S. employers announced 172,017 layoffs in February, up 245% from January. One-third are DOGE’s layoffs of federal employees. CNBC

3. Private companies added only 77,000 new jobs in February which was much less than the expected 186,000 new jobs. CNBC

4. Florida’s housing market has more single-family homes available for sale than at any other time in the past decade with year-over-year increase that is one of the highest in the nation. Newsweek

5. Is Florida heading toward a new housing crisis? New York Post

6. Delistings are surging as the housing market teeters toward a correction. The Daily Economy

7. The Pending Home Sales Index plummeted to an all-time low in January. MPAMag

8. CFPB stays its lawsuit against Comerica Bank that alleges the bank failed millions of its disabled and elderly customers who receive federal benefits. Reuters via Yahoo Finance

9. Trump administration plans to eliminate dozens of federal housing offices nationwide, leaving 34 states with no office at all, although federal law requires at least one office in each state, hamstringing federal lending. Bloomberg (gift link)

10. Florida’s Attorney General (finally) stops MV Realty from enforcing its 40-year listing agreements. ActionNews JAX

4. Closing Thought: Hire top-down for scalability and longevity

Entrepreneurs often default to hiring task-level employees first, believing they can manage everything themselves. But the most successful entrepreneurs build their businesses by hiring leaders first—directors, managers, and key decision-makers—before hiring frontline workers.

Why It Matters: Bringing in experienced leadership before filling lower-level roles ensures that your team is built with strategy, efficiency, and long-term success in mind. Without strong leadership, you risk high turnover, operational inefficiencies, and costly micromanagement.

Key Advantages

🔹 Better Systems from the Start – A skilled operations manager or director can build scalable processes before your team grows, preventing costly inefficiencies.

🔹 Faster Growth & Delegation – Leaders hire, train, and oversee the do-ers, freeing you up to focus on high-level strategy instead of daily operations.

🔹 Stronger Culture & Retention – Experienced managers set expectations, create accountability, and establish a positive workplace culture, reducing employee churn.

🔹 Less Time Fixing Mistakes – When junior employees are hired first, they often lack guidance, requiring you to fix problems that could have been prevented with the right leadership in place.

Real Estate Example

Imagine launching a property management firm. Hiring a property manager first ensures leases, maintenance, and tenant relations run smoothly. But hiring entry-level leasing agents without oversight? That leads to inconsistent customer service, compliance issues, and operational headaches.

The Bottom Line: Hiring from the top down isn’t just about spending more—it’s about spending smarter. The right leadership amplifies your time, resources, and efficiency, setting your business up for long-term success.

🚀 Action Step: Identify the highest-value leadership role you need to fill next—and start recruiting now.

We hope you found this helpful — any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.

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