A global coronavirus survey of more than 800 real estate agents in the United States and 9 other countries detail the impact of the Coronavirus pandemic on their businesses and them as individuals.
SOME USA HIGHLIGHTS
- In the US, 86% of agents expect to earn less in 2020, thanks to the Coronavirus.
- One-quarter to one-third of agents say market activity by all groups is down. Activity by local owner-occupier buyers, local investor buyers, and foreign buyers has plummeted by one-quarter to one-third. Renter activity has dropped by 16%.
- The share of American agents who expect the negative impact on their earnings to be “significant” is more than twice the share who expect it to be moderate, at 58% vs 28%, respectively.
- 66% of US agents say this is a good time to buy.
- When it comes to selling, 45% of American agents believe this is a “good” or “very good” time to sell, while 31% believe the opposite and that it is a “bad” or “very bad” time to sell. Nearly twice as many agents recommend selling as recommend against it.
- 57% of agents expect the Coronavirus real estate market impacts to last more than three months.
- 12% of American agents will increase their investment in marketing to foreign buyers to help offset some of their lost income.
- The top three steps American agents are taking to protect themselves and others are: washing hands and using sanitizer, working from home, and avoiding obviously sick individuals.