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SELLERS and buyers are not the only jittery players in today’s housing market. Real estate offices along Main Streets throughout the country are struggling to stay in business during one of the worst markets in decades, and at the same time shift away from their traditional job description to become more competitive players on the Internet.

Reflecting the grave state of the market, Redfin real estate company dating announced that it was laying off 10 percent of its employees — although not its sales agents, who work as independent contractors.

Beacon Hill Condo/Apartment Landlords

Along with downtown Boston real estate offices, another group being impacted is Beacon Hill apartment landlords. With the news that Suffolk University students won’t be coming back in full force, it’s leaving a large void in the Beacon Hill apartment market.

As of today MLS is reporting over 300 apartments still avail for September 1, 2020 

Not Just Real Estate Offices

Three months ago, New York City’s major employers thought only 10 percent of their workers would be back in the office by now.

It turns out that things are not as bad as expected. They’re worse.

Only 8 percent of their employees have returned to workplaces, according to a follow-up to a late-May survey by the Partnership for New York City, a leading business group.

Moreover, just 26 percent of them are expected back by the end of the year, and 54 percent by July 2021, the survey found.

One exception was the real estate industry, where 53 percent of workers are already at their desks and 94 percent are anticipated to return sometime this year.

Boston Real Estate and the Bottom Line

So what are your thoughts, will we see Boston real estate offices closing in the near future?

Boston Real Estate Search

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