Coronavirus Will Change the Real Estate World Permanently. Here’s How
For many people right now, the scale of the coronavirus crisis calls to mind previous crises that reshaped society in lasting ways, from how we travel, to the level of security and surveillance we’re accustomed to.
But crisis moments also present opportunity: more sophisticated and flexible use of technology. COVID-19 will sweep away many of the artificial barriers to moving more of our lives online, and is going to force many brokers to go virtual.
The paradox of online communication will be ratcheted up: It creates more distance, yes, but also more connection, as we communicate more often with people who are physically farther away.
Here are a few ways and challenges that Real Estate will face:
— Real estate is a personalized and relational service business, where buyers or sellers prefer dealing with a human, that is accountable, instead of a computer.
Because of Covid 19, we know now that touching things, being with other people and breathing the air in an enclosed space can be risky. How quickly that awareness recedes will be different for different people, but it can never vanish completely. It could become second nature to recoil from shaking hands with clients
– The comfort of being in the presence of others might be replaced by a greater comfort with absence, especially with those we don’t know intimately. We could be asking, “Is there any good reason to do this in person?”
– Telecommuting – while not every job can be done remotely, real estate brokers learned long ago that the difference between getting dressed for the office and commute or flexible hours and being able to work efficiently at home was always just the ability to download one or two apps.
– Real Estate Technology – Investments over the past few years have made us better prepared for virus fears, so that buyers can tour the home virtually without having to congregate in an open house with new technology such as 3D scans of every home, as well as drones, to photograph properties. “I’m letting home buyers ask me to conduct the tour virtually via Zoom video chat says Kenny Langburt of ReMax Ambiance. Also, customers can nowadays complete every part of a contract virtually.
“Plus, I create online marketing campaigns for nearly every listing on Facebook and other sites, says Kenny Langburt of ReMax Ambiance. ” Perhaps alone among brokers, I believe we can sell homes just as effectively without an open house.”
If you need a hand navigating through real estate during this crazy time, feel free to reach out to me at email@example.com and in setting aside some time to talk.
Stay healthy. Stay safe.