Haute Residence continued its industry-leading real estate webinar series with a chat featuring a trio of leading real estate agents in New York City (Vickey Barron), South Florida (Josh Dotoli) and Canada (Faith Wilson).
The spoke with host Erik Haase of Haute Living about their respective markets and how each has adapted to changes to the industry in the last eight to 10 weeks. Watch the webinar below.
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Vickey Barron: "We have a trend in the family where we buy when everyone else says you shouldn't be... In New York, for our contracts that got signed last week, the negotiation was between 7-10% off of the asking price... I have numerous conversations with clients of different price points, and the conversation is that New York will take a little longer to come back around. It doesn't mean deals will not get done. I have a client who is relocating to New York for their job, and they're in contract to purchase something they have not seen but trusted in me and my team to identify the property... People look for those brokers that have the expertise, knowledge, and trust. Trust is going to win all day long... You want to be able to pause and direct and drive your business in the direction you want it to go. Think strategically about how you can come up with better ways to service the people and take care of them."
Josh Dotoli: "Compass has done a tremendous job of putting out a ton skill-building trainings for our team members so that, although they may not be as busy during this time, they are still able to sharpen their skills and reach out to clients... I think we will continue to see discounts. Like any tough time, the US bounces back very strongly, so I'm hoping by 2021 that we return to some sort of normalcy in our markets... This is an excellent time to regroup and to be in a position that when we really pull out of this, that you are fully optimized."
Faith Wilson: "(In Vancouver), our office is closed to the public. My small team is here, but basically it is just us... We have a policy in place on our MLS where it's documented on what has to happen if you want to see a property and then what we do over there to show it. There are masks, gloves, and only a couple of people that are showing at a time. We have been fortunate that a few of our properties are new and vacant, so that's helpful as well... For someone from the US to have a second or third home, it is a great lifestyle. There are great outdoors, amenities, shopping, and restaurants... It is a good time to buy. There is potential for good purchases... For al of us, our clients want to hear from us to hear what's going on. It's key that we stay in touch with them and give good advice."