WARREN – Whether for a job change, marriage, divorce or addition of a child, real estate agents remained in high demand throughout 2020, says Yvonne Smith, broker and partner at Real Living Brokers Realty Group in Warren.
Through the efforts of the Realtors Political Action Committee, Brokers Realty Group was deemed an essential business during the COVID-19 shutdowns, Smith notes.
And, as families found themselves at home for work, school, social activities and hobbies, Real Living Brokers Realty Group found the coronavirus pandemic “was actually an accelerator that moved our technology and efficiency factors fivefold,” Smith says, and forced her agency to adjust immediately.
“This made our company better, stronger and faster, which allowed us to make quick decisions in the crisis,” Smith says. “Luckily, necessity is the mother of invention, and that made us perfectly positioned to perform at our best. Sellers were getting multiple offers within hours of going live.”
In 2020, Brokers Realty Group sold 1,292 homes, up from 1,112 in 2019. Total sales volume increased 16% to $92.3 million, up from $77.6 million in 2019, according to Smith.
The agency’s strategies in guiding clients “did a total 180” as agents helped clients deal with multiple offers, bidding wars and low inventory, says partner Mary Sims.
This year, the company hopes to increase sales volume to $100 million, Sims says.
Inventory remains low, adds partner Dan Alvarez, which forced the company to look into inventory procurement, “which also meant building houses on our own to sell.”
The company and its clients built eight new houses in 2020. “We typically do two a year,” notes Marcus Smith, director of operations.