{"id":2049,"date":"2021-02-11T01:04:00","date_gmt":"2021-02-11T01:04:00","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2021\/02\/11\/q1-2021-broker-sentiment-survey-results-finding-inventory-and-handling-multiple-offers-weigh-heavy-on-brokers-minds\/"},"modified":"2025-03-13T02:36:36","modified_gmt":"2025-03-13T02:36:36","slug":"q1-2021-broker-sentiment-survey-results-finding-inventory-and-handling-multiple-offers-weigh-heavy-on-brokers-minds","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2021\/02\/11\/q1-2021-broker-sentiment-survey-results-finding-inventory-and-handling-multiple-offers-weigh-heavy-on-brokers-minds\/","title":{"rendered":"Q1 Broker Sentiment Survey: Finding Inventory & Handling Multiple Offers Weigh Heavy on Brokers’ Minds"},"content":{"rendered":"\n

Real estate brokerage owners are bullish about the housing market but continue to run a lean firm and are concerned about inventory issues.<\/p>\n\n\n\n

The real estate market is moving full speed ahead according to brokerage firm leaders who responded to the REAL Trends Q1 2021 Broker Sentiment Survey. Some 61.4% predicted that home sales will be up more than 5% in their markets, that\u2019s held steady from Q42020 when 62% of those surveyed felt the same. Another 34% felt like sales would be flat in the next three months, up from 25% in Q42020. Prices, on the other hand, are predicted to rise. Some 58% of brokers interviewed felt that home prices would rise 1% to 5% in the next three months, while 37% felt they would rise more than 5%. Both are similar to Q42020 which showed 53% and 33% respectively.<\/a> <\/p>\n\n\n\n

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Download Q1 2021 Broker Sentiment Survey<\/a><\/div>\n<\/div>\n\n\n\n

Finding Inventory<\/strong><\/p>\n\n\n\n

When it comes to challenges, the No. 1 challenge by a long shot is finding inventory. It\u2019s also what keeps brokers up at night, with about half mentioning the lack of housing inventory as a write-in answer for current challenges. “The historic record low inventory is reaching a crisis point in our markets,\u201d says Chad Ochsner, broker-owner of RE\/MAX Alliance in Denver. \u201cWe\u2019re seeing rapid, unsustainable price acceleration as a result of the inventory shortage. Multiple offers, often well over asking price, are leaving many frustrated buyers on the sidelines. I\u2019m concerned about this log jam and hope we see something break loose as we approach the spring. We need thousands of more homes to sell.”<\/p>\n\n\n\n

For David Jones, CEO of Coldwell Banker Howard Perry and Walston, \u201cWe\u2019re wondering when the lack of inventory is going to put the brakes on sales. So far, it\u2019s incredible how low inventory and days on market can go, yet year-over-year sales have been going up 20+%.\u201d<\/p>\n\n\n\n

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Challenges (ranked biggest challenge to smallest)<\/strong><\/p>\n\n\n\n

  1. Finding Inventory (ranked No. 1 challenge by 86% of those surveyed)<\/li>
  2. Pressure on net and\/or gross margins<\/li>
  3. Difficulty in recruiting<\/li>
  4. Reducing our costs<\/li>
  5. Increasing capture rate on core services<\/li>
  6. Restructuring office space<\/li>
  7. Building or implementing a new technology platform or business model<\/li>
  8. Building more diverse and inclusive brokerage<\/li>
  9. Increased regulation and rising interest rates<\/li><\/ol>\n\n\n\n

    Other challenges mentioned in write-in section were (in order of number of times mentioned highest to lowest):<\/strong><\/p>\n\n\n\n