We had such a positive response to last week’s Tarrant County Tuesday where a local agent shared insight on the recent COVID-19 situation in the real estate world that we wanted to hear more perspectives and stories.
Greg Potts, Social Realty
Greg Potts is the founder and owner of Social Realty in the Fort Worth area. The brokerage was founded to help families and individuals not only find the home that fits their needs, but with every sale, Social Realty donates to various causes and foundations to give back the community and help change lives.
What was real estate like before and during COVID-19?
Greg: “Like previous years, 2020 looked like it was going to be a strong year for my personal business and Social Realty. In fact, I was on track to have one of my best years … then COVID-19 came about and everyone was in a holding pattern. There was such a state of confusion personally and professionally that it seemed we were all frozen and without direction.
“After two weeks of being in that state I decided that I wasn’t going to let this pandemic knock me or my business out. While many businesses — even real estate — were still shell shocked, I decided to get busy.
“I reached out to my clients and gave them the choice of going forward or waiting in regards to looking at or listing their home. Many were eager to move ahead and so we did. I have listed more homes in April and May of 2020 than any other year during those months.”
Thoughts on the real estate market going forward?
Greg: “There are two ways I see this. From a national standpoint, I think we are going to see a high number of foreclosures and listings. There are some areas of the United States that are going to have a difficult time bouncing back from lay-offs, businesses closing, and economic hardships.
“From a Texas perspective, this is going to be an amazing opportunity. We are already seeing listings increase and buyers are taking advantage of the ridiculously low interest rates to purchase a home.
“Texas is seen as a ‘safe state’ in regards to COVID-19 and more and more people are going to continue to move here. The next five years are going to be hectic for sure.”
Anything you’ve seen or done differently in your business?
Greg: “Like so many others, I have used FaceTime, Zoom, and other forms of electronic media to assist my clients. I think those options will be used more and more, but nothing will replace the face-to-face interaction between Realtor, client, and property. Digital photos and screen time can only show so much of a home.”
Interesting stories or tidbits you’d like to share?
Greg: “When this all first went down I went out and bought a real Hazmat suit. I honestly didn’t know if I would need it or have to use it or what … that was the state of confusion where everyone seemed to be at the start.
“I don’t think the suit will become my normal state of attire, but it makes for good photos.”
