2020 promises to be another strong year for those of us in the real estate industry. It’s an election year and there’s a lot of pressure to keep pushing rates down. Unless something unexpected happens – geopolitical or environmental – we should be good to go.
Recessions are cyclical – when the next one hits what we don’t know is how big it will be and how long it will last – there are differences we can expect.
The one likely to have the biggest impact will be the fact that in the next recession the public will have production numbers and reviews on agents. This is sure to make things interesting for real estate companies. We have a terrible record of getting rid of low and non-producing agents – this go round buyers and sellers will do it for us.
Once again, disruption will be driven by the consumer.