Survey says majority of realtors expect COVID-19 to shrink business by at least 50%
In news that will do little to calm the nerves of antsy mortgage professionals, data released by Point2 Homes on Monday finds sentiment among real estate agents around COVID-19’s impact on their businesses to be one of pessimism and extreme concern.
The survey, which follows the far more optimistic polling of homebuyer sentiment Point2 Homes released on April 9, collected responses from 369 agents between April 7 and 14. There’s little potential for shock in some of the data, such as 86% of respondents noticing at least “quite a significant drop” in homebuyer interest. But the feelings realtors expressed around what business will look like once COVID-19 passes may take some by surprise.
When asked about their level of concern over the impact of the outbreak on their business, 97% of realtors said they are at least “somewhat worried”, but the vast majority are either “very worried and concerned” (41%) or “extremely anxious” (34%). Only 1% of realtors said they are not concerned by COVID-19’s impact “at all”.
Original Article Source Credits: Mortgage Brokernews.ca, https://www.mortgagebrokernews.ca/
Article Written By: Clayton Jarvis
Original Article Posted on: May 5, 2020