Updated: May 7
The real estate market is hot right now. Real estate is the leading factor in pulling the United States out of the recession that started last year because of the coronavirus pandemic. This recession is unlike the one that began in 2008. Real estate actually caused that recession.
The inventory of homes available for sale is low right now. In fact, according to statistics cited in an article on Realtor.com, it's the lowest it's been since 1982. Home sellers will be pouring out of the cracks soon. Many homeowners have been waiting to sell their homes until after the election and after the effects of the pandemic subside a bit. It is also predicted that there will also be more foreclosures coming on the market after the mortgage forbearance programs end in June 2021. Millions of Americans are in mortgage forbearance programs. Unfortunately, they will not all be able to start paying back their mortgages when the forbearance ends.
There is considerable pent-up buyer demand. With the inventory of homes so low, buyers are desperate to find houses. When a home is listed on the market for sale, buyers flock to see it. Many houses for sale receive multiple offers. Many of them are selling at or above list price. If you know anyone who is looking to buy a home, be sure you're up on the latest and greatest "tricks of the trade" to help them. Be sure to stay on top of market trends and statistics. Be sure to sharpen your negotiating skills.
Work From Home
Many people are working from home right now. It's easy to set up a real estate home office. The world is going paperless. Almost everything involved with a real estate can be done online. Some agents are opting to use meeting platforms for their buyer consultations and their listing appointments. Contracts can be filled out online, without the need to print them and fill in the blanks by hand. There are online signature programs, such as Docusign, where buyers, sellers, tenants, landlords, brokers, managing brokers and attorneys can legally sign documents. In fact, there are entire transaction management programs that make practicing real estate at home so easy. It's important to be trained and up-to-date with what's available to you as a real estate broker.
Now is the time to get the training and coaching you need to ensure that your real estate career gets off to a good start. Don't delay. Schedule a call with us today.