That’s why we reached out to real estate agents to get their honest takes on what’s really happening in the housing market in the time of COVID-19, how buyers

As a real estate agent, what are the most important details about the housing market you want your clients to know?

As a real estate agent, what are the most important details about the housing market you want your clients to know?

Nothing. I don’t think it’s important for an agent’s clients to know anything about the housing market.

I don’t mind if they do. But that information is pretty much irrelevant for their needs.

What’s relevant to a buyer is finding a house that meets their needs. That includes a wide range of issues—from size of house and location to affordability. It might include being in a good school district. It might include proximity to the buyers’ work. It might include a swimming pool or a roof-top deck.

All of those are important.

What’s not important is the housing market. That’s an important concern for real estate agents, builders, lenders, construction workers, and so on. But it doesn’t make any difference to a buyer if new home sales are up 1% or sales of existing homes are down 2%.

That’s not to say that the effects of the housing market aren’t important to buyers. If days on market (DOM) has fallen from 35 to 25, it’s important that buyers are aware that houses are selling faster so that, if they see a property the like, it might make sense to quickly put in an offer on it. But, unless the client is interested, I’m not going to force-feed a lot of market-related statistics.

Another example: There are changing trends in the housing market. People are buying houses with more bedrooms because, increasingly, they’re using at least one as a home-office, hobby room, home gym, etc. I may mention this to buyers, but if the buyers have determined that they want a 3-bedroom, 2-bath house, that’s what’s important to them and, thus, to me.