Charisma Southerland, President, Canopy REALTOR Association

In an interview with Invest:, Charisma Southerland, president of Canopy Realtor Association, highlighted the organization’s commitment to advancing the real estate profession and improving communities. Beyond traditional roles, Canopy actively engages in advocacy, addressing critical issues like housing affordability. With an optimistic outlook on the real estate market, Southerland underscored Canopy’s forward-thinking vision for fostering Charlotte’s growth.

What is Canopy Realtor Association’s mission and its role in Charlotte?

The Canopy Realtor Association is dedicated to advancing the profession and improving communities. We’re the 15th largest association in the nation with over 14,000 members, and we manage the 17th largest multiple listing service (MLS) in the country. Our activities span across professional development, continuing education, leadership development, and advocacy. 

What have been some key accomplishments this past year?

Over the past year, the Canopy Realtor Association has been active in various areas, particularly through our Canopy Housing Foundation, which is the charitable arm of our association. Our signature event, Realtors Care Day, involves over 350 realtors volunteering to do home repairs and modifications across several counties. We have provided over $1.2 million in contributions through this event over the past 15 years. We also run other initiatives like Project REACH (Realtors® Engaging and Creating Hope) which allows our Realtor® members to volunteer and learn more about nonprofits with similar missions as our Foundation and the Community Grants initiative which has awarded more than $500,000 since 2009 to support local nonprofits and Habitat for Humanity organizations, which also share a common mission of meeting unmet housing needs within the community.

Each initiative under the Canopy Housing Foundation aims to directly address and support the unmet housing needs within our community, from our annual Strides for Shelter 5K event that with the help of the public has raised over $170,000 for housing-related charities, to our Yes Award (Youth Excellence In Service) that encourages youth to engage in community service. This holistic approach ensures we not only serve our members but also make a tangible difference in the communities where they live and work.

Many people associate realtors primarily with buying and selling homes. How does Canopy go beyond this perception?

REBIC, which stands for the Real Estate and Building Industry Coalition, plays a crucial role in Charlotte’s growth by fostering collaborative actions on issues that matter to our members. These include all aspects of real estate development, from land sales to building, engineering, financial management, and leasing. REBIC is instrumental in promoting regional growth and job creation while keeping a close eye on the health of the local real estate industry.

We’ve been active in advocating for the First-Time Homebuyer Savings Account and addressing flood insurance challenges, especially important in North Carolina given the projected increases. We’ve fought to maintain the mortgage interest deduction, which is crucial for homeowners. Additionally, we’ve been involved in discussions about housing supply, increasing transportation, and managing regulatory issues that affect whether you can have a gas or electric stove in your home. We also tackle broader issues, such as land development and energy choices, ensuring that real estate agreements are fair, and improving the permitting process for water and sewer to stabilize the housing market. Our work with the Unified Development Ordinance (UDO) in Charlotte is another example of how we’re supporting the community’s growth and addressing housing affordability comprehensively.

What is your assessment of the real estate market in Charlotte?

Spring this year started off strong, and the outlook is promising. Last year, the Federal Reserve raised interest rates several times to manage inflation, which settled down by the end of 2023. We anticipated potential rate cuts this spring, but the actual rates have remained slightly below 8%, around 7.75% for FHA loans. Interestingly, when rates dipped into the 6% range at the end of 2023, buyer activity surged. For instance, I had a client who secured a high 6% rate in early 2024 and was very satisfied, particularly because buying in winter helped avoid competition.

Our inventory is critically low, currently, there is about a 1.6-month supply throughout the 16-county region, indicating a strong seller’s market. Many homeowners are hesitant to sell since they purchased their homes at much lower rates. As a personal example, after refinancing at 2.25%, my husband and I are considering whether to expand our current home or wait to move into a 55+ community. Typically, we see an increase in listings around April and May, driven by life events like marriages, births, divorces, and downsizing. I expect listing activity to pick up in the coming months, but we’re still far from a balanced market.

What support and services does Canopy Realtor Association provide to its members?

At Canopy, we provide our members with a range of services aimed at enhancing their professional skills and market knowledge. For instance, we host sessions on hot topics as part of their membership benefits. These include bringing in superintendents and mayors from various cities to discuss relevant issues. Last year, we held an event in Mooresville, Iredell County, where mayors from Statesville and Mooresville participated, giving our members access to region-specific insights.

Our members are looking for resources that can genuinely aid them in their profession. One significant area we’ve focused on is down payment assistance. In Charlotte, the median sales price is around $385,000, posing a challenge for first-time homebuyers to afford a substantial down payment. Recognizing this, we’ve integrated a down payment assistance resource tool into our MLS. This tool highlights properties eligible for various assistance programs, which our members can then relay to potential buyers.

Moreover, following a recent settlement with NAR, we introduced “247 Ways” to help our members effectively promote their value through listing and buyer agency points. We also offer free notary services and maintain The Realtor® Store to further support our members in advancing their careers. 

What is your outlook for Canopy in Charlotte and your top priorities for the next two to three years?

My outlook for Canopy is positive because Charlotte itself is a dynamic city. I’ve seen firsthand how Charlotte has grown into an economic powerhouse. We’re the second largest banking center in the United States, home to Fortune 1000 companies, and we benefit from a significant transportation network, including a major airport and nearby ports. This connectivity and the city’s appealing cost of living make it an attractive place to live and do business. As for Canopy, we’re a forward-thinking organization, always seeking innovative approaches to real estate and community engagement. Our leadership, including our CEO Anne Marie DeCatsye, Esq., is dedicated to keeping us at the forefront of industry developments. I’m confident that Canopy will continue to thrive.

We are committed to supporting Charlotte’s growth by promoting real estate as a tool for generational wealth, especially in communities where this potential has yet to be realized. I am deeply passionate about the transformative power of real estate in creating generational wealth. It’s a privilege to assist our clients in achieving significant financial outcomes, often transforming their lives. This mission is central to everything we do at Canopy.