The increase in showings reveal that buyer activity is picking up. This is the first step toward more pending sales and then more closings and a release of pent-up demand.
Covid recovery by the Nos + the 2020 Real Estate Almanac
In addition to the articles, here are a few items we are reading from across the internet.
The increase in showings reveal that buyer activity is picking up. This is the first step toward more pending sales and then more closings and a release of pent-up demand.
NAR provides a valuable resource that brokerages, Realtor associations and other industry participants should reference as they begin to open offices where allowed.
McKinsey's analysis indicates the steep challenges Covid-19 presents but also shares some hope on the horizon. It appears clear that the nation and world economies will have to deal with the coronavirus and its effects for years. This is all the more reason to refine business operations for virtual operation, develop and maintain healthy cash flows and focus on building a resilient infrastructure.
Housing demand remains strong, suggesting that as the country opens, the real estate market is poised to return. Early indications reflect a checkmark-shaped recovery.
Covid-19 is presenting the industry with the opportunity to redefine and restructure their businesses. Don't waste this opportunity and make sure you come out of this pandemic period stronger than your competitors.
Everyone has had to adapt because of Covid-19. It's important for real estate brokers and agents to focus on how they can best support the new and constantly changing needs of consumers. Stepping up is a requirement, not an option.
Yes, zoom fatigue is real, especially if you have to prepare, present or substantially contribute on a video call. Don't simply say yes to all requests for video calls because it is so much easier than previous travel. This is a new normal so consider if a video call is necessary. It is great that you can connect with many more people than ever before, but you can also overdo it. Time management still applies, it is simply redefined.
Unforeseen crises, like Covid-19, force clear-eyed, swift action from company leaders. This list from Flint, now a principal at venture capital firm NFX, recommends a solid set of actions leaders can take to not only survive the downturn but potentially come out ahead after it.
It's important to learn the best practices of each type of showing. For example: virtual private showings -- show up early and prepare how you'll showcase the home and turn on the lights; virtual open houses -- have a mechanism for collecting buyer and seller leads; virtual tours -- use a service such as Matterport or Realvision to get immersive video.
These models offer innovative alternatives for home financing, and potentially give more consumers access to living in homes beyond renting. As with any new model, these come with potential dangers, such as limiting the full long-term financial benefits homeowners realize as homeowners.
Enabling Intelligent Change.