As the states begin lifting stay-at-home orders, how will prices from the Pre-COVID-19 market compare to those Post-COVID-19 market? More importantly, how can you determine exactly how much prices are changing in your local market? On this week’s show, Bernice and Greg outline what is required to price properties when there are virtually no accurate comparable sales due to COVID-19. Here’s what they will be covering:
- Factors that could drive your market into a full-blown downturn.
- Expect a mixed market with continued high demand in the entry-level and a possible inventory glut due to the lack of financing in the luxury sector.
- The step-by-step process for determining how much your market is increasing or decreasing.
- Why the amount of inventory (supply) determines where your market is heading 6-12 months from now.
- How to discuss changing prices with your clients.
- Best scripts for handling price declines.