Larry Flick V, CEO at Berkshire Hathaway HomeServices Fox & Roach REALTORS (foxroach.com) and The Trident Group, talks trends, technology and 2021 predictions.
What role did technology play in real estate because of the pandemic?
We launched virtual open house extravaganzas and hosted live social media tours—a number of buyers purchased homes without ever stepping foot inside.
Will that continue?
Technology will play an important, but supporting, role in real estate. It will never fully replace the importance of personal relationships.
Tell us about some trends for 2021.
Amenities that enhance your everyday living experience are the top priority: upscale, custom kitchens and baths as well as plenty of open space, high ceilings and natural light plus home gyms, home offices and outdoor space.
What about the trend of trading the city for the suburbs?
The real estate market is currently more robust in the suburbs than in the city, but I believe the city will rebound exponentially once the pandemic is behind us and in-office work resumes.
What is your best piece of advice for buyers?
The real estate industry is facing significant demand and a shortage of inventory—make sure you’re fully prepared to purchase quickly and pay full price or above.
Photography by: TERRY HIRST FOR BERKSHIRE HATHAWAY HOMESERVICES FOX & ROACH REALTORS