Indirectly we hope to see a reduction in long-term interest rates and creating more money for the real estate market. According to an article on CNBC today, the CEO's of both Fannie and Freddie are not expecting the market to pull out of the current situation until 2010.
For us as agents that means a weeding out, and a better conviction to making the calls and driving business (Lead Generation). The current situation will create an interesting dynamic, that to a large extent we have seen in our market before, but will add some new twists on how to compete and be profitable.
The good news is that buyers and sellers will need our services more now than in the past. Buyers will need professionals to help them find and price homes reasonably. Buyers remember you should never pay more than the current market. Sellers, you'll need help in determining where you need to be to sell. This current market will only get better for the professional who is not afarid to work! Good Luck!