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.