The results are in from RISMedia's latest reader survey on how the coronavirus has affected the real estate business. One thing is clear: While transactions may have slowed in some areas, the business of real estate continues amid the pandemic. Additionally, agents are spending more on online marketing tools, such as video tours and social media ads, to help their businesses and clients get through buying and selling in these challenging times.
The survey, conducted June 1-15, 2020, included responses from agents (70 percent), brokers (22 percent), team leaders (4 percent) and other practitioners (4 percent) from all 50 states. Nearly 78 percent of respondents said they have been continuing to close transactions throughout the pandemic, albeit the majority with business decreased by varying amounts.
The survey showed that while online marketing spending and related business were mixed, online videos tours are the clear winner in terms of investments real estate professionals will continue to use post-pandemic. Here's a look at some of our survey findings:
To view more key findings from our recent reader survey, click here.
We are still seeing a lot of buyer activity in the Tampa market, however inventory is extremely low. Homes that are priced right and are in decent condition are moving quickly and creating multiple offer situations. Offers need to be strong from the git go. In some instances I have used an escalation clause to solidify buyer contracts!