Covid-19 Pushes Real Estate Industry to New Heights

As uncertainty lingers amidst a global pandemic real estate professionals with an eye for opportunity look to adapt. Social distancing is altering the way we interact and technology is bridging the gap and reshaping outdated real estate methods. 

With stay at home orders being levied by city and state officials, people have been forced to work from home. Real Estate professionals are forced to rely on technology to deliver their services despite physical interaction. 

Virtual tours are a growing trend that will transform the way home buyers shop for houses long after this pandemic dissolves. Active home buyers can now take 3D virtual tours of homes with the effort of just a few clicks. 

“Prior to the pandemic, 3D virtual tours were up and coming, they were not adopted by the industry. Since the onset of Covid-19, the value of virtual tours and digital media has increased substantially. The trend is here to stay, users are now seeing its value”, says Aaron Tench, President of VR Listing. His firm is a Real Estate Digital Marketing Company based out of Toronto, Canada. They offer different types of visual media services for residential and commercial real estate. 

“Current methods are outdated, proptech can transform the industry for the better from every single angle”, according to Aaron Tench. 

No, this cannot entirely replace the need of visiting a home and receiving a feel before agreeing to place an offer. But it can expedite the process and make it simpler for all parties involved. 

The days of printing and hoarding tons of real estate documents are near extinction. Companies like Docusign are helping lead the new evolution. Imagine the comfort and 

convenience of sitting in your own home signing closing documents electronically. Turning your home office into the new closing table. 

“Real estate has been one of the slower industries to adopt technology”, Aaron states. 

As professionals are forced to be still, they have ample time to self-reflect and evaluate. This extraordinary time has something great to teach us all, if we listen. When change occurs, we must assess and adapt. 

How can I make the best out of my situation? What matters most to me? What changes can I make within and to my lifestyle to better my life, and those around me? 

Tampa Realtor, Monique Williams, believes, “Agents that can brand themselves digitally, tell their story, be creative and consistent with designs, while utilizing social media platforms will reap the greatest rewards. With all industries moving towards, “less contact” business models, savvy tech users will rise to the top of their industries”. 

Every economic downturn brings about new societal changes. We are on the cusp of settling into our new normal. Those real estate professionals who are fluid and adapt with time will find immense fortune in our evolving industry.