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Pandemic Trends in Real Estate
Big picture
1. Recession---
Listings will sit longer--will see more price reductions
Prices could come down--
Job loss will force possible relocations
2. Buyer’s Market--First Time Buyers will benefit
3. Builders--Sitting on inventory
Agent Trends
1. Consolidation of Agents and companies
2. Virtual meetings will become more accepted
3. Agents will start using video more in marketing
4. Qualify better before showing properties
5. Wire transfer for earnest money checks
6. Streamline in house contract paperwork to more online vs printing and scanning
7. Everyone needs an electronic signature program
8. Virtual Tours mandatory
9. Manage Open Houses better going forward. Mandatory for everyone to sign in. Manage number of people in house at same time.
10. Finished basements if you have basements in your area will be more desirable. Maximize finished square footage in a home.
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