PPB December 2020

America’s Largest Real Estate Companies If you want to work with some of the biggest names in real estate, look to the companies below. They rose to the top in 2019 in terms of annual sales volume. • Realogy: $504.21 billion • Keller Williams Realty: $336.59 billion • RE/MAX: $269.93 billion • HomeServices of America: $206.08 billion • Compass: $91.27 billion Source: T3 Sixty States Where Real Estate Agents Earn The Most Some states are better than others for real estate agents. When it comes to annual salary, real estate pros earn the most in these states: Reaching Out To Renters For many renters, the pandemic took a toll on their aspirations of home ownership. One in 10 said they were ready to buy a home, but COVID-19 forced 43 percent of them to delay their plans due to economic uncertainty or loss of income. A quarter of renters say they will never buy a home, according to a survey by RENTCafe. Real estate agents can establish relationships and educate this group through thoughtful promotional campaigns. • New York: $110,800 • Massachusetts: $84,180 • Connecticut: $79,780 • Alaska: $79,360 • Colorado: $76,850 • Utah: $75,170 • California: $74,140 • Texas: $72,830 • Wyoming: $71,460 • Hawaii: $71,140 Source: Forbes.com The Value Of Virtual Communication In an age of COVID-19, real estate agents are relying heavily on technology to connect with homebuyers. According to OJO Labs, 25 percent of homebuyers are taking more virtual tours now than before the pandemic. Nearly half (41 percent) are also communicating more with real estate agents via Zoom, Skype and FaceTime. Real estate pros can use branded items to promote not just their business, but their virtual offerings. Homebuying In A Hurry LendingTree reports that 53 percent of homebuyers are likely to buy a home in the next year due to the pandemic. Here’s why they want to buy soon: 67 % want to take advantage of low interest rates 32 % have been able to save a larger down payment due to spending less 30 % want to take advantage of lower home prices 28 % want to move to a larger space | DECEMBER 2020 | 49 GROW