Surveys Reveal Broker And Consumer Views On The Future Of The Market

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We analyzed several recent surveys to give you a pulse on the market.

BROKER SURVEY

HOW DO BROKERS VIEW THE FUTURE?

REAL Trends and Colmar Associates recently surveyed brokers to see how they see the future of real estate.

In April, REAL Trends and Colmar Associates surveyed 150 brokers (125 responded) to determine their future view, given the current state of the market. Here’s what they had to say:

  • 66% said they were going to use more of a combination of virtual meetings and company gatherings
  • 24.8% said that their experience with virtual meetings was excellent, and 51.2% said it was very good
  • 52.8% of the brokers surveyed said the decline in agent counts would be between 5% to 15% because of the economy’s change
  • 40.8% of brokers said they felt the recovery in housing sales would take hold between one to three months; 36.8% said it would be between three to six months, and 15.2% said it would take longer than six months
  • 61.6% said they would consolidate their office space
  • 20.0% said they felt business would be off 5% to 10% in 2020; 43.2% said they believed that business would be off 11% to 20% in 2020, and 16% said they would be off 21% to 30%;
  • 92% said that their business would survive this downturn, showing the determination of the brokerage firms.
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This article originally appeared in the June 2020 issue of the REAL Trends Newsletter. It is reprinted with permission of REAL Trends, Inc. Copyright © 2020. To read the rest of this issue & more, please visit our Real Trends page online.

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