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Big IPOs, Skipping Inspection, iBuyers, and What Agents Should Be Advising Right Now

Compass ๐Ÿงญ, a real estate brokerage firm with more than 19,000 agents across the country ๐Ÿ—บ, filed to go public on Monday, and told prospective investors ๐Ÿ’ณ that revenue jumped 56% last year as housing prices soared โ†—๏ธ. Founded in 2012, the New York-based ๐Ÿ—ฝ company has sought to bring advanced technology ๐Ÿ’ป to real estate agents, giving them better data ๐Ÿ”ข, marketing tools and customer relationship software ๐Ÿ’พ than they can get from a typical brick-and-mortar brokerage.

Shopping ๐Ÿ› for their first home in New Jersey, Alyse Storzieri and her boyfriend ๐Ÿ‘ฉโ€โค๏ธโ€๐Ÿ’‹โ€๐Ÿ‘จ Robert Engel faced a tough ๐Ÿ’ช market. So when they found ๐Ÿ•ต๏ธ a house they loved last June, the couple followed their real estate agent's advice to make their offer stand out ๐Ÿšจ. They went over the asking price, tripled their down payment amount and agreed to waive the home inspection ๐Ÿ”ฌ.

The real estate industry has seen plenty of technological ๐Ÿค– upheavals since the pandemic ๐Ÿฆ  began. As agents faced the unprecedented uncertainty of the past year, they quickly โฑadopted tools to keep sales ๐Ÿค‘ moving, from video ๐ŸŽฅ tours to 3D ๐Ÿ•ถ walkthroughs to FaceTime ๐Ÿ“ฑ showings.

What buyers need to know right now: 1. โ€œMoney ๐Ÿ’ฐ has not been this cheap to borrow ๐Ÿ’ณ in a very long time ๐Ÿ“…,โ€ says Graham Ross, manager of Just Property Blouberg. โ€œIf you are going to buy, now โฒ is the time. You may find you are able to afford ๐Ÿ’ธ a bigger bond, which could put you in an area where a year ago you could not afford to buy.โ€

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