MReport July 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 46 of 67

M REPORT | 45 O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST DATA Growing Importance of Real Estate Agents During COVID-19 More potential homebuyers said having an expert by their side was vital during their search. T he National Associa- tion of Realtors (NAR) found in a new survey that 65% of potential buyers who attended an open house within this past year felt comfortable enough with the safety precautions taken to say that they would have no hesita- tion to do so again. Additionally, nearly 47% of home buyers felt that recruiting the help of a real estate profes- sional was even more vital and desired than before the pandemic arose, citing peace of mind as the main benefit of such aid. Also, 54% of buyers and 62% of sellers agreed that specifically because of the uncertainty swirling around them thanks to COVID-19's im- pacts, the extra guidance from an expert was among the top of their must-have list now. Also noteworthy, six out of 10 buyers and sellers surveyed counted real estate professionals— specifically buying and selling of property—to be an essential service. As to which part of this service was most valued and appreciated, a little more than half of those surveyed (51%) revealed that they found online listings most helpful for providing information versus if they would try to discover it of their own accord. Along this same vein, 56% of respondents felt that above and beyond the help of online listings, an actual real estate agent would be beneficial in saving them even more time. All of this is good news for the industry, which many feared might suffer even more from the pandemic, especially in regard to buyers and sellers possibly es- chewing jumping into the market altogether. NAR President and broker and San Francisco's Malta & Co., Inc., Vince Malta, voiced his relief at continued buyer interest and also offered hopeful wishes for the future: "The real estate industry— and our country—has endured some very challenging times for several months, but we're seeing signs of progress, and we are earnestly hoping the worst is behind us." Malta also stated: "While we celebrate homeownership month, we embrace today's version of homeownership and the unique paths homeowners take to real- ize their dream. For prospective buyers, the desire to own a home remains strong and the guidance, expertise, and professionalism Realtors provide is more impor- tant now than ever."

Articles in this issue

Archives of this issue

view archives of TheMReport - MReport July 2020