Survey says majority of realtors expect COVID-19 to shrink business by at least 50%
Updated: Nov 16, 2022
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The responses were grim when agents were asked to estimate the extent of the financial damage COVID-19 will ultimately do to their incomes. Over 90% of respondents are expecting losses of at least 25%, with 29% of that group projecting losses of more than 75%.
The remaining questions provide a somewhat muddled view of the future. Over 60% of agents say they are expecting a significant negative impact on the real estate market in general (34% expect slightly negative effects), but 80% think the post-lockdown recovery will take 12 months or less. 39% of realtors surveyed feel the recovery will be complete in three to six months. But a not insignificant 17% say the recovery could take up to two years.