Robert Williamson, a real estate agent with Residential Properties Ltd. in Cumberland, recently was named president of the Northern Rhode Island Board of Realtors.
A graduate of Rhode Island College, Williamson previously held a number of leadership positions with the organization. He is also a board member on the Rhode Island Association of Realtors.
PBN: What has surprised you the most about this year’s single-family and condo market?
WILLIAMSON: Low inventory, increased demand and record-low interest rates continue to keep the housing market strong. The biggest surprise coming out of this year has been the amount of multiple offer situations buyers have been dealing with. Working with a Realtor has never been more important. He or she will be able to advise you how to place a competitive offer in order to put you in the best position to purchase the property.
PBN: Can you describe the northern Rhode Island market, in general, and has it become more popular this year for families or individuals looking for homes?
WILLIAMSON: The northern Rhode Island housing market has been very hot. This year, we have seen an influx of buyers who had been looking in the Massachusetts market. Northern Rhode Island can sometimes offer a more affordable option than our neighboring Massachusetts towns. In fact, per the Rhode Island Association of Realtors, second- and third-quarter sales from 2019 to 2020 have shown an increase of 16% of buyers who are coming from Massachusetts.
PBN: What do you foresee in 2021? If homeowners are waiting, should they sell and move up or downsize? Have people been sitting this out seeing what will happen with the market?
WILLIAMSON: I envision 2021 to be very similar to 2020 when it comes to the housing market. Many sellers are choosing to refinance instead of selling their home. This has resulted in pent-up demand, as well.
We have also seen an increase in many consumers looking to move up into a larger home. While the workforce continues to allow more employees the ability to work from home, many buyers are looking for homes with additional office space potential.
PBN: What impact will a change in presidential administration have on the housing market? Will it cause any immediate changes, and do you see that coming in 2021?
WILLIAMSON: Every four years the presidential election creates some uncertainty with the housing market along with the financial market. While the Fed [Federal Reserve] continues to keep interest rates low, the housing market should remain stable throughout 2021 and beyond.
PBN: What are some of the challenges of selling and showing homes in the COVID-19 pandemic and how have you responded?
WILLIAMSON: The key to adapting to the challenges that the pandemic has brought is to make the consumer as comfortable as possible. This now entails fewer people in the house at the same time, mandatory mask wearing, sign-in sheets for contact-tracing purposes, and health screening questions. It is our job to create a safe environment for the public.
Mary MacDonald is a staff writer for the PBN. Contact her at MacDonald@PBN.com.
