Redfin’s 2021 Housing Market Predictions: 14.5 Million Americans Will Move Out of Town, Fueling 10% Sales Growth

“These days, video tours have generally become an accepted form of a home tour,” said Cleveland Redfin agent Danielle Parent. “I used to receive pushback from listing agents who were concerned that my buyer didn’t see the home in person before making an offer. But these concerns have waned during the pandemic.”

Prediction #9: 2021 will usher in a new era of price competition for real estate agents

In 2021, homebuyers and sellers searching on websites like Redfin.com will see the buyers’ agent fee next to every home for sale. Redfin already displayed the buyers’ agent fee for its own listings, but in 2021, all listings will show the buyers’ agent fee as a consequence of a settlement between the Department of Justice and the National Association of Realtors.

Fees won’t drop overnight, but increased transparency will usher in a new era of price competition. A buyer, able to see what her agent will earn on a sale, may negotiate a refund or work out a fee-for-service arrangement. Sellers, now able to see the commissions their neighbors are offering, will factor this in when deciding what commission to offer on their own homes.

Prediction #10: Everything associated with buying or selling a home will be offered at one-stop-shops

The competitive battle in the industry will heat up, as the biggest real estate companies work to become a one-stop shop for customers, integrating home trade-in and cash offers, concierge listing prep, mortgage, title, insurance, home warranty and moving services. With access to billions in capital from Wall Street, these companies will invest in talent, technology and acquisitions in 2021.

Consumers want their real estate agents to provide the on-demand service they’ve come to expect in other industries from ride-hailing to grocery delivery. Agents will look to join real estate companies that help them deliver that service. More agents will see the benefits and career opportunities in joining a national real estate company that offers technology, support staff and an integrated service offering.

To view the full report, please visit: https://www.redfin.com/news/Housing-Market-Predictions-2021/[4]

About Redfin
Redfin (www.redfin.com[5]) is a technology-powered residential real estate company, redefining real estate in the consumer’s favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country’s #1 real estate brokerage search site, offering a host of online tools to consumers, including the Redfin Estimate[6]. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we’ve helped them buy or sell more than 235,000 homes worth more than $115 billion.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com[7]. To learn about housing market trends and download data, visit the Redfin Data Center[8]. To be added to Redfin’s press release distribution list, email [email protected][9]. To view Redfin’s press center, click here[10].

SOURCE Redfin

Related Links

https://www.redfin.com
[11]

References

  1. ^ RDFN (www.prnewswire.com)
  2. ^ report (c212.net)
  3. ^ redfin.com (c212.net)
  4. ^ https://www.redfin.com/news/Housing-Market-Predictions-2021/ (c212.net)
  5. ^ www.redfin.com (c212.net)
  6. ^ Redfin Estimate (c212.net)
  7. ^ www.redfin.com (c212.net)
  8. ^ Redfin Data Center (c212.net)
  9. ^ [email protected] (www.prnewswire.com)
  10. ^ click here (c212.net)
  11. ^ Link to https://www.redfin.com (www.redfin.com)

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