Q: How Has the Pandemic Affected Our Real Estate Market? - High Performance Real Estate Advisors

Here’s what to know about our market and why our agents are thriving.

When the pandemic hit, many anticipated a jarring shift in the market, but in reality we experienced a sort of pause. In mid-March, the instant response from our community—and really, the real estate community nationwide—was one of fear: “Oh my gosh, this is going to be like 2008. Buckle up for another housing crisis.” 

Of course, it didn’t pan out that way. After a roughly six- to eight-week freeze, the market came roaring back and we’ve been busier than ever. Pricing is up, inventory is down, and we can’t keep listings on the market long enough—all indicative of a very strong seller’s market.

The health crisis also underscored the importance of clear, consistent communication not only with our active and under-contract clients, but also with our prospects. Oftentimes, what’s in the news is not the reality of what’s going on in the local market, and we all must be mindful of the media we consume. 

In our case, the virtual methods we implemented have turned out to be more in line with what consumers desire anyway.

I remember seeing an article with a truly fear-mongering headline that warned of impending housing market doom. Deep into the read, however, it said that home prices were up 8% year over year for the month of April. Naturally, given the pandemic, the number of homes sold this April was going to be less than the number sold in April 2019, but that wasn’t a fundamental indicator of the market shifting. 

Additionally, knowing your scripts better has never been more important than it is right now. Anticipate concerns, and have a clear, data-backed answer for every market-related question asked of you. There is a lot of hype and fear swirling around these days, and it’s up to you as a real estate professional to be a calming voice of truth. 

Everyone had to adjust to the ‘new normal,’ and real estate was no exception. We have overhauled our entire buying and listing processes to accommodate the needs, fears, and concerns of buyers and sellers right now. From the initial consultation with buyers and sellers to the way we show homes, we’ve made the changes necessary to empower our clients and ensure our agents are still out there selling homes while others scramble to find direction. In our case, the virtual methods we implemented have turned out to be more in line with what consumers desire anyway, which was a huge learning moment for us.

If you’re at the point in your career where the time, money, and freedom you were looking for in the real estate business feel so out of reach, please feel free to contact us. The systems and tools we built into our business are second to none, and we’re putting our agents in a position to sell more homes in less time with less stress. 

Head to highperformancerealestatecareers.com if you want to have a confidential conversation and dig into the possibilities waiting for you in your career. In the meantime, give us a call or send an email if you have any questions. We look forward to hearing from you.