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McDonnell Minute: Homebuying now - How’s the WiFi??

How Fast Internet Affects Home Prices

More buyers are choosing where they live based on access to broadband according to the Wall Street Journal. While this might seem extreme, a nationwide study released on Monday by researchers at the University of Colorado and Carnegie Mellon University finds fiber-optic connections, the fastest type of high speed Internet available, can add $5,437 to the price of a $175,000 home—about as much as a fireplace, or half the value of a bathroom.

Post-Pandemic Migration from Expensive Cities Likely As 1 in 4 Newly Remote Employees Expect Work-From-Home to Continue

The coronavirus pandemic has forced many people across the country to work from home, and city dwellers are now considering leaving high rents behind if their remote jobs continue. NBC’s Jo Ling Kent reports for Weekend TODAY.

Redfin indicates the sudden shift to remote work will accelerate a major migration away from expensive coastal cities for a higher quality of life in places like Charlotte, Nashville, and Dallas.

According to a new survey of homebuyers and sellers from Redfin, 1 in 4 newly-remote workers expect to continue to work remotely once shutdowns end, and over half of respondents would move if they never had to go into an office.

Home-buying demand reaches a new peak as pent-up demand is unleashed.

“The pandemic has people re-evaluating their lifestyle and their goals. People who were considering a move two or three years down the line are pulling the trigger now.” - Redfin

Many brokers and agents have added the ability for buyers to tour a home via video-chat to help in-town buyers see homes safely while social distancing, but many out-of-town buyers are using video tours because it’s just more convenient.

Real Estate sales coach Jeff Lobb, CEO and founder of SparkTank Media and Inman News Top 100 in Real estate says the shift to Virtual is here to stay.

“by embracing the technology and tools available, and by practicing and perfecting your virtual presentation, you are setting your new value proposition.” This will not only help you succeed in the current environment, but stay top of mind when the market rebounds."

Learn sales strategies and the best tools for listing and conducting your real estate business online in our conversation with Jeff Lobb.

NAR‘s #ThatsWhoWeR Take...

Our new reality is reframing what it means to be together. Our home is everything now. It's our office. It's our gym. It's our children's classroom and their playground. Our new restaurant is our kitchen. 

We've had to invent new ways to love, and new ways to spend time together. We've had to rethink how we do business, and what is essential, and remake our space out of pixels, so we can still create something new when every day feels the same.

That's Who We R. 

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