Sixty-seven percent of agents believe that sales will increase in 2011
Chicago, IL – December 22, 2010 – (RealEstateRama) — This wasn’t an easy year to be a real estate agent, even if 2010 turned out to be a better year than 2009. However, according to a new survey by Chicago Agent magazine, things might be looking up for 2011. In the magazine’s most recent issue, readers responded positively to a survey designed to gauge industry predications for 2011.
Overall, real estate agents believe that they will garner more sales in 2011 than they did in 2010. When asked how sales would change compared to 2011, 67 percent said they feel that sales will increase in the next year. Only 9 percent thought sales would decrease, and 24 percent said they would remain the same.
In the same survey, which was sent to agents via e-mail from Oct. 20- Nov. 23, 2010, agents were asked how they feel about home prices and whether they would increase or decrease in 2011. The industry was much less optimistic in this regard, with 54 percent reporting that they believe prices will remain the same. Thirty-one percent believe that prices will decrease, and only 15 percent said that prices might increase.
One anonymous agent commented that the bottom might not be anywhere in sight. “We may still have a way to go before the bottom of the price valley has been reached,” said the agent. “Prices will be flat if not dropping again this year.” Vera Pergl-Butkovich of Coldwell Banker Libertyville commented that housing prices vary by location. “Changes in house prices will depend on the area, and then the subdivision,” says Pergl-Butkovich. “Libertyville is starting to see a slight increase from 2009; however, the Round Lake areas are still in the decline.”
Lastly, the survey questioned if the change in the balance of power in the U.S. Congress and Senate after the November elections would have any affect on the industry. Almost half of the respondents (42 percent) are predicting that the Republicans taking over the government will have no affect on the housing market. Thirty-seven percent feel that the change in government will have a positive impact, while just 21 percent think that the government change will have a negative affect on the industry.
“With the elections behind us, hopefully the banks will loosen up the credit and move forward on short sales/foreclosures in a more timely fashion,” said one respondent who wished to remain anonymous. “Everybody’s been saying this hasn’t happened yet because of the political uncertainty, and I hope that’s behind us now.”
To view the full results of the survey, you can pick up the most recent issue of Chicago Agent magazine entitled 2010 Predictions From Industry Experts, which was released on December 20.
About Chicago Agent Magazine
Chicago Agent magazine and ChicagoAgentMagazine.com is a subsidiary of Agent Publishing, the only media company that unites the residential housing industry in local markets across the U.S. Realtors, developers, lenders and industry affiliates look to Chicago Agent for news, information, advice and important data relevant to the Chicagoland area. The only company that addresses the business and personal needs of the real estate professional, Chicago Agent magazine is delivered to thousands of agents in hundreds of realty offices in the Chicagoland area. For more information, visit ChicagoAgentMagazine.com.