Predictions and insights from local realtors
Recently we asked 50,000+ real estate agents across the country to share their insights, predictions, experiences and best advice. We wanted to know what to expect and what to do for the duration of and well after the nationally recognized shelter in place.
If you responded to the survey, thank you!
We received a lot of great information from your responses. Our goal here is to keep the real estate community connected through our unique ability to harness the voice of realtors all over the country. Both seasoned and up-and-coming agents shared their recommendations for best practices, and surfaced some much-needed tips for how to make the most out of a uniquely challenging time.
If you missed the survey, we’ve recapped the questions for you here:
How have the events related to the Corona Virus changed the Real Estate industry?
What advice would you give to a new agent during these times?
What are your clients saying?
What tools would help you do your job better?
Stay safe out there!
The overarching sentiment from the responses emphasized the strength and empathy of the Real Estate community. The “safety of family, colleagues, and clients” was the most frequently used suggestion in nearly every response.
Many agents emphasized how important it is to abide by the rules
“Stay safe and abide by the rules... keep calm and most definitely keep your clients calm, they look to Professionals for hope. Keep informed, get the latest techniques to stay in touch and most of all keep your sense of humor and keep working positively!”
- Lydia Vetere, Realtor Pleasanton, CA
the rise of online video tours as a tool to show homes
“Learn how to use Zoom and Facetime to hold listing consultations and help clients tour homes without having to be there in person.” - Josh Felder, Realtor Palo Alto, CA
but nothing can replace the in-person experience.
“Technology will help buyers to shop around, so they can make informed choices. However, I don't believe anything can replace the actual experience of walking through a home. There is a deep, personal feeling that cannot be expressed or fully felt until one physically walks through a property.”
- April Jones Realtor Bay Area, CA
New Agents Pay Attention!
This is an especially challenging time For agents who are new to the industry. If transaction volume slows down, it can be difficult to get a burgeoning business up and running. But,
there is good news to be heard
“I just hired a new agent about a month ago. She plans to stay and is remaining optimistic about the future. Without knowing how long we'll all be unable to open our businesses again, it's very difficult to give sound advice to new agents. I do know, under normal circumstances, it's wise to get into real estate during a ‘down market’ — It gives newly licensed agents time to study things, seek mentorship with other agents and gain the experience they need to be ready to sell when the market improves.”
- Gail Lane, Broker/Owner, Napa Valley, CA
veteran Agents recommend:
use this time to study and learn.
“Work closely with a mentor who is established in real estate, knowledgeable, well liked/respected in the Realtor community. It will fast-track you in every way. DO NOT go it alone, especially with the Covid 19 changes! Doing it alone, as I did 13 years ago is the long, and wrong way around.”
- Lisa Jeffers, Realtor Roseville, CA
“Learn how to get creative with financing and loans. Why? This is the best time to educate buyers/investors to buy properties. This is also the best time to educate Sellers how to compete for buyers by educating them to become subject to loans, or become a lender for their buyer.”
- Gregory Troncales, Broker Owner, Mountain House, CA
“Learn how to get creative with financing
and loans.” - Gregory T.
Many agents, who are thriving today, went through the 2008 financial crisis.
They Suggest to hold on tight and Stick with your Business Plan.
“I started in real estate during the housing & mortgage crisis of 2009 & was told I'd never make it. Lots of experienced agents were leaving the business for "real" jobs. But an economic downturn or slowdown is a great time to get educated on the tools & techniques you'll use to build your business. Then you'll be ready for when things bounce back. I'd say don't get discouraged, this could be a great time to be a new agent.” - Linda Zimmer, Broker Owner, Morgan Hill, CA
Focus on what you do really well and leverage your strengths. Now is the time to ensure you have a business plan in place and work it! Be consistent. - Marco Vaticano, Realtor, Danville, CA
manage fiscal responsibilities and cut down on unnecessary expenses.
“Real Estate is still a solid investment, no matter when you buy. For sellers, it's when you sell that matter the most. If you can stick it out, property values almost inevitably go back up. If real estate is your passion, you will find your niche with patience.” - April Howell Young, Realtor, Oakland, CA
“If a new agent is looking for short term gain or success, perhaps this is not the right time to be in Real Estate, but if they are looking for a long term career and have the financial funds to stay in the business, then it's a great learning opportunity for future success.”
- Ruzanna Avagyan, Realtor & Mortgage Broker, Bay Area, CA
and Maintain an unflappable fortitude to keep clients calm and guide them through uncharted waters.
“Build up a great contact list and keep in touch with them regularly!”
- David Parry, Broker, San Francisco, CA
“We all need to get back to the basics. talk to people, face to face. Sure Facetime and zoom fit lots of needs, but in the long run, it takes empathetic listening. Don’t just let the buyer & sellers know about how much you know. Ask questions. Dig deep.” - Marilyn Schumacher, Broker/Owner, Alameda, CA
Clients are Cautious, not lacking motivation
Clients need the steady guidance of a Realtor in the best of times, that is only more so in today’s climate.
Many of the agents who responded to the survey indicated that buyers are still interested but think they may get a better deal if they wait.
Some sellers are wondering if they’ve missed the top of the market, while others are concerned about making their mortgage payments.
“My clients' comments run that gamut. Some use the D-word and some say now is the time to jump in.” - David Eckert, Realtor, Oakland, CA
“The first time buyer and seller may be wigging out, the experienced ones are carrying on with caution. It's the agent's job to listen to their concerns and address it head on, don't blow over it like it's not a big deal. It is a very big deal to your clients.” - Ed Jue, Realtor, Pleasanton, CA
“Rates are fantastic, prices are great but current world conditions are scaring everyone into inaction. There will be a flood of inventory when the Shelters in Place end.”
- Patricia Miller, Associate Broker, Rohnert Park, CA
The world is changing day by day and even hour by hour.
We’d like to leave you with a comment that captures the attitude and flexibility that we are seeing from many agents:
“If you need to buy a home, we have the technology to make it happen, we just might do it a little differently and it might take a little longer than we’re all used to.”
- Nathan Pierce, Broker-Owner, Hollister, CA
“We are one big community and the only way to get through this, is together.
We’ll need to be there for each other and adjust as circumstances change.”
- Brian Sloss, Co-founder Disclosures.io