What Real Estate Agents Should Know Before Heading Into 2021

Housing expert Ivy Zelman and tech strategist Mike DelPrete have the inside scoop for agents, homebuyers and sellers curious about real estate in 2021.

Zelman, the founder of Zelman & Associates, is a top real estate industry analyst. DelPrete is an acclaimed real estate technology strategist renowned for his data-backed research. They each joined RE/MAX Chief Customer Officer Nick Bailey on “Good Morning RE/MAX” to share what agents should know as they end 2020 and head into 2021.

“Now is a great time to buy” – Ivy Zelman, founder of Zelman & Associates

According to Zelman, right now is a great time to buy – and agents should help their networks realize it. She says an effective COVID-19 vaccine in 2021 may cause interest rates to tick upward and potentially slow what’s been a hot housing market.

“You haven’t missed [your chance],” Zelman says, regarding current low interest rates. “When people get stuck on the [upfront costs], they need to think about the monthly payment and take advantage of these ridiculously low rates.”

Record-low interest rates are providing significant purchasing power to interested buyers. They’re also helping current homeowners, too.

“People that are refinancing [are] benefiting from the lower-rate environment to reduce their monthly payment. So, it’s really helped the struggling homeowners today, allowing them to reduce their overall expenses,” she says.

“Technology is an enabler, not a disrupter” – Mike DelPrete, global real estate technology strategist

“The reason technology hasn’t replaced [real estate agents] at all is because real estate is still very much a person-to-person experience no matter where you are in the world,” DelPrete says.

Despite the presence of iBuyers, DelPrete explains that people remain at the center of the transaction – and that technology is a tremendous asset to real estate agents.

“I think technology is an enabler, not a disrupter… technology can enable agents to be more efficient,” he explains.

“[Technology] can enable companies like Zillow to get all this data and present it to people. Technology is not a great disrupter in real estate – you can’t use it to replace existing processes. It’s all about creating efficiencies moving things faster and enabling agents or consultants [or] anyone to be more productive in that whole process.”

And while iBuyers are likely here to stay in the industry, they will continue to lack the personal communication needed to build lasting client relationships.

“iBuyer market share is down and if you look at the recovery, it’s really, really slow. So, I think the consumer proposition right now for an instant offer on your home is at an all-time low,” says DelPrete.

Tune into “Good Morning RE/MAX” and hear more wisdom from Zelman and DelPrete for agents and brokers conducting business in 2021.

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