Business in 2020 was unpredictable. The team was off like a cannon at the beginning of the year. We were on a great pace for a record-shattering year, and then with the pandemic, there was a pretty significant interruption to our second quarter. Ultimately, people were home long enough to decide that their house was too big, too small, they needed more yard, less yard, etc., and that caused the housing market to be strong.
A different trend we saw this past year was a Spring market shift to the Fall due to the stay-at-home order. Typically, the Spring market is a fiercely competitive market because you have two subsets of buyers competing for limited inventory. The Spring is the perfect storm for selling, where you have carryover buyers from winter that didn’t find their home, went dormant during the holidays, and then you have this new subset of buyers that decided during the holidays that they want to move.
There is an influx of buyers that come to me in mid-February and are ready to hit the ground running. However, many sellers are thinking, ‘I’m not going to put my home on the market until Spring.’ In reality, February or March is probably the best time of the year to list.
We saw this same thing happen after the stay-at-home order. That period was almost a “false winter” where people were forced inside and put their searches on hold. Though we still had a strong market because another subset of people decided that they need more room or less room. It may have been unpredictable, but the team was prepared to handle all aspects of the change.Â
In the end, I’m proud of our team and how we handled business during the pandemic. As a business owner, you’re faced with many challenging decisions. At the end of the day, we knew where our priorities were, and that was taking care of our team and keeping our clients safe.
One way we plan on changing up our business this year is by bringing back the newsletter. The newsletter is a great way to stay in touch with our clients. We consider our clients to be friends, and it can be hard to keep in touch and give them regular updates on the company.
In 2021, I generally hope for health and happiness in our community. As for business, I hope to grow the team. As we begin this new year, we hope to strengthen our relationships with current clients while also building new relationships with the friends and neighbors they refer to us.Â
2020 was a challenging year all around. However, the best thing about 2020 was the arrival of our second son, Charlie. He’s a great joy, and I love watching Stanley, our two and a half-year-old, be a big brother. That is just something that I wasn’t anticipating, and it’s so fun to see how Stanley treats Charlie and interacts with him.
With two kids and running a business, it can be a challenge to balance both. However, my wife, Johnna, is so supportive of the demands of this business. Because our clients become friends, she wants the best outcome for them. She selflessly carries a lot of the parenting weight, allowing me to devote as much time as I do to our clients and their goals.Â
Take care,
Rob Riddle
robr@thomasriddle.com
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