Seeing how more companies are ending or reducing the “work from home” opportunities could and should be a reason for adjusting your marketing of properties and opportunities. As the below linked article shows, there are some markets with a higher concentration of hybrid work situations. Workers that need to go into the office full-time or more frequently than the previous five years may be facing concerns about their commute and commuting time. Some have moved since before the pandemic forced these changes.
Many people that could work majority or exclusively from home had moved to a home where there was less or no worries about commuting. They no longer had to be near the train station, bus stop, or freeway. Now that things are changing, there may be people open to selling or buying with regard to their “new” or more frequent commute.
Some of these decisions may come without regard to mortgage rates and other financial challenges. For example, one hour less of daily commuting time could save an hour a day of day care costs and gas money. Suppose that totals $200 per month. Meanwhile, a “new” mortgage that costs $150 per month more may not seem appealing as a stand alone. However, using the just described situation, a $150 per month additional mortgage increase becomes money SAVED. Saving $50 per month amounts to $600 a year, while adding convenience.
Chances are your client hasn’t thought about that, and may be hesitant to sell and buy because they don’t see the “savings” it would bring. However, you need to know how your farm area shapes up in terms of “working from home” or “returning to the office” status. It’s still another reason why and how you could benefit from having a research person or team on your side. You could be “first in” on helping your clients to save money on housing. My team and I do market research and can help you create client-specific presentations!
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