T3 Sixty

Insight /

May 2020

T3 Insight Monthly Digest

The industry has so many stories, blogs, press releases and announcements each month that we all struggle to digest the information and distinguish between truly meaningful developments and hype or advertisement. Here are this month’s articles.

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May 2020
]

Coronavirus recovery by the numbers: 4 real estate economists weigh in

Coronavirus recovery by the numbers: 4 real estate economists weigh in Authored by: Paul Hagey Published: May 2020
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[
May 2020
]

Inside the real estate industry’s most comprehensive annual compendium

Inside the real estate industry’s most comprehensive annual compendium Authored by: Paul Hagey Published: May 2020 After months of work and hundreds of hours
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In addition to the three deep-dive articles above, T3 Sixty has, in addition, identified a collection of noteworthy articles from various news sources. Here are those honorable mentions.

Year-over-year showings pick back up in mid-May

(Read the Story)
  • From: ShowingTime
  • Summary
Showings in the seven days through May 12 have surged to approximately 10 percent above the first week of January, and closer to 2019 levels for the period. The last time year-over-year showings were as close was in mid-March.
  • Commentary
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.

Guide to opening offices after Covid-19

(Read the Story)
  • From: National Association of Realtors
  • Summary
The National Association of Realtors outlines how brokerages and agents should approach reopening their offices by suggesting the creation of a Covid-19 Task Force and by itemizing specific tasks such as: implementing CDC-outlined cleaning protocols, post CDC-recommended cleaning throughout the building, identify hands-free options for high-touch areas such as knobs, light switches and plumbing, modify work areas to support social distancing and more.
  • Commentary
NAR provides a valuable resource that brokerages, Realtor associations and other industry participants should reference as they begin to open offices where allowed.

Covid-19, by the numbers

(Read the Story)
  • From: McKinsey
  • Summary
Official Covid-19 cases are likely drastically underreported, as our deaths, McKinsey reports. Experts expect a Covid-19 second wave. Testing, tracing and targeted quarantine remain critical practices as economies slowly begin to open wider. McKinsey reports that 13 potential Covid-19 vaccines, including some novel approaches, are in clinical trials, with many companies and scientists collaborating and sharing information to help develop a vaccine.
  • Commentary
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.

Listings traffic surges back in April

(Read the Story)
  • From: Zillow
  • Summary
After a steep decline in mid-March, Zillow data shows that visits to for-sale homes on zillow.com and the Zillow mobile app in mid-April 2020 were above 2019 levels.
  • Commentary
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.

T3 Sixty Fireside Chat: Ryan Gorman and John Peyton

(Read the Story)
  • From: Fireside Chat
  • Summary
Realogy execs Ryan Gorman, CEO of Coldwell Banker, and John Peyton, CEO of Realogy Franchise Group, share their company’s efforts in playing both offense and defense during Covid-19. Gorman and Peyton say, early on in the pandemic, they found themselves helping their offices and affiliates better understand the federal relief packages and then, in recent weeks, shifted to helping them validate and implement virtual tools. They also have been advising their agents to invest in learning, social media and stay close to their spheres.
  • Commentary
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.

T3 Sixty

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© T3 Sixty 2020. Enabling Intelligent Change.

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