July 31 2020
Despite the uncertainty surrounding the coronavirus pandemic, 75% of real estate agents feel confident about the future of the market, according to a Homes.com survey of nearly 700 agents and brokers. The survey highlights the ongoing strength of the real estate sector, even as other industries continue to suffer losses from coronavirus-related shutdowns.
Though real estate professionals were initially uncertain of how the market would respond to pandemic restrictions, the survey found that over 41% of agents have since experienced the same or greater listing activity compared to a typical year. In fact, 66% said they had no listing cancellations since the outbreak began, and of those who have, 88% have had less than five.
The 2020 real estate market has been a strong seller's market for most locales, but the Homes.com study still found signs of seller apprehension; 81% of agents indicated they have gained less than five new listings since the pandemic began.
"This survey shows how well agents and brokers were able to pivot during the pandemic," said Homes.com president, David Mele. "Their expertise in the real estate process is invaluable which makes them indispensable to buyers and sellers now more than ever."
Among the additional findings:
"Overall, 60% of agents said that, despite the pandemic, business is the same or stronger than before its onset," Mele said. "While the remainder of this year remains uncertain, these findings show how adaptable the industry is, and that agents will do whatever it takes to help consumers in their buying and selling endeavors."