Last week, Rob & Greg imagined what the future of real estate might look like in the aftermath of the pandemic, pending a best-case scenario. Today, they get real about what’s ahead for the industry given the reality of our current circumstances. And they’re bringing on a number of industry stakeholders to offer their outlook as well.
On this episode of Industry Relations, Rob and Greg are leading a group chat around what’s next for real estate as the Coronavirus pandemic plays out. The group offers predictions on how the MLS landscape may change, debating whether it’s the number of MLSs or the number of MLS databases that really matters and offering examples of hybrid solutions that may serve as a model for the future.
Greg and Rob go on to solicit the group’s thoughts on the potential shape of the recovery curve and the possibility of a shift to a buyer’s market in 2021. Finally, they explain why an increase in property taxes is likely in the aftermath of the COVID-19 bailout and how that might impact buyer demand in the real estate market. Listen in for insight on Open House numbers in states where stay-at-home orders have been lifted and learn how those stats might be a good sign for other industries.
What’s Discussed:
A review of what Rob & Greg covered in their best-case discussion
Greg, Clint & John’s predictions re: the number of MLSs by 2023
Why the consolidation of data is more important than the total number of MLSs
Tim’s vision of a future with ten or fewer MLS databases that talk to each other
How the pandemic demonstrates the industry’s underutilization of telecommunication
Why Georgia is watching the commercial market for clues re: the future of residential
Georgia’s concept of a J-shaped recovery
Why Joshua is predicting a buyer’s market in 2021
Why Greg expects a best-case scenario uptick in buyer demand
Why property taxes are likely to increase and how that might impact buyer demand
The significant uptick in Open Houses scheduled in states where stay-at-home orders have been lifted
How Open House numbers may be a good sign for other industries
Connect with Rob and Greg:
Resources:
Great Recession + COVID-19 Bailout Comparison
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