MADISON, N.J., Feb. 3, 2021 /PRNewswire/ -- Realogy
Expansion Brands, a division of Realogy Franchise Group focused on
driving growth for its brand portfolio comprised of Better Homes
and Gardens® Real Estate and ERA® Real
Estate, has released a new industry report.
"Real Estate in the Time of COVID," the definitive oral history
of the pandemic's impact on the industry, examines the initial
reaction, the measured response and the resulting reset that is
occurring as the industry continues to navigate the evolving real
estate landscape. Better Homes and Gardens Real Estate and ERA
Real Estate brokerage leaders across the country contributed
to the report, providing an "on the ground" account of how the real
estate industry is responding to the pandemic.
According to the affiliated brokers interviewed for the report,
key observations included:
- Despite a two-month "pause" related to the national shelter in
place, initial fears of a real estate downturn went unfounded as
many affiliated companies have seen notable year-over-year
gains.
- With record low inventory levels creating intense competition
for listings, there was a noted increase in brokerages providing
their affiliated agents with timely market statistics that allowed
agents to win listings with data-driven communications.
- The flight from major cities was real, and many made moves.
However, many families with children stayed on the sidelines in
2020, which may result in increased activity in this segment in the
spring of 2021.
- The pandemic accelerated the adoption of existing technology,
such as video meetings, live video home tours, Facebook® live
events and digital signatures, among both agents and
consumers.
- The pandemic has showcased the inherent value of the brokerage
and full-service support, the importance of understanding marketing
conditions and the benefit of having diverse lines of
business.
- The COVID crisis pushed many leaders out of their comfort
zones. As they took the opportunity to challenge existing norms and
evaluate new approaches for the future, many created new business
models and best practices that will continue for years based on
learnings.
"2020 was a year we will always remember. It was critical for us
to take a step back and truly understand how the pandemic impacted
our industry from the early days through today and into the future.
Our "Real Estate in the Time of COVID" report features a
cross-section of influencers within Realogy Expansion Brands. It
provides a touchstone for today's real estate leaders by
identifying trends and capturing insights that will resonate within
the industry for years to come. Resiliency, resourcefulness and
readiness to lead were all on display as the real estate industry
demonstrated its enduring ability to adapt and thrive in the face
of adversity. This oral history will serve as an essential resource
for future leaders to draw upon these experiences as they contend
with the emerging issues of their time."
Sherry Chris, President and CEO,
Realogy Expansion Brands
About Better Homes and Gardens Real Estate LLC
Better
Homes and Gardens Real Estate LLC is a dynamic real estate
brand that offers a full range of services to brokers, sales
associates and home buyers and sellers. Using innovative
technology, sophisticated business systems and the broad appeal of
a lifestyle brand, Better Homes and Gardens Real Estate LLC
embodies the future of the real estate industry while remaining
grounded in the tradition of home. Better Homes and Gardens Real
Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY),
a global leader in real estate franchising and provider of real
estate brokerage, relocation and settlement services.
The growing Better Homes and Gardens® Real Estate network
includes nearly 13,000 independent sales associates and more than
370 offices serving home buyers and sellers across the United States, Canada, Jamaica, The Bahamas, Australia and New
Zealand.
Better Homes & Gardens® is a registered trademark of
Meredith Corporation licensed to Better Homes and Gardens Real
Estate LLC and used with permission. An Equal Opportunity Company.
Equal Housing Opportunity. Each Better Homes and Gardens® Real
Estate Franchise is independently owned and operated.
About ERA Real Estate
At ERA Real Estate, we
don't adapt to change, we create it. We believe that our core
business values of collaboration, innovation, diversity and growth
are needed now more than ever. As a global leader in the
residential real estate industry for more than 40 years, the
ERA® brand was the first real estate franchise to expand
internationally, the first to post listings online, and is the only
national company that offers the Sellers Security® Plan
program.
The ERA Real Estate network includes more than
35,000 affiliated brokers and independent sales associates and
approximately 2,200 offices throughout the United
States and 31 other countries and territories. ERA
Franchise Systems LLC (www.ERA.com) which operates the
ERA Real Estate system, is a subsidiary of Realogy
Holdings Corp. (NYSE: RLGY), a global provider of real estate
services. ERA Real Estate information is available
at www.ExploreERA.com.
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SOURCE Realogy Expansion Brands