COVID-19: Real Estate Trends That Are Here To Stay

The COVID-19 pandemic has changed a lot about how life once functioned. An unexpected outcome is the acceptance of new ways to approach a variety of daily activities that have proven to be effective and efficient. As a result, many are likely to stay long after the health crisis is over.

For real estate, our “new normal” has introduced a variety of new listing and purchasing resources that have streamlined the home hunting process. With the recent weeks showing positive trends in both listings and sales, the following revised approaches to real estate are likely to remain in-demand for years to come.

Virtual Tours
Virtual Tours have become the new norm by introducing properties online first, buyers and sellers are finding great efficiencies of time.

For Buyers, they can narrow down homes of interest from the comfort of their current residence. Technology for 3D Matterport tours have become a must Gone are the endless hours of driving from home to home with surprises that disappoint and waste time. For sellers, online walk-throughs help narrow home visits to potential buyers who have a legitimate interest. The disruption of showing a home is safer and more rewarding by streamlining the need for physical walk-throughs.

Live Broadcast Open Houses
Open houses will continue to use technologies such as Google Meetings, YouTube Live, Facebook Live, and Zoom. Interested buyers can set up private calls with the showing agent and can guide the viewing with a focus on areas of interest, all in the comfort of pajamas.

Safety Boundaries
Buyers, sellers, and agents will all have different levels of tolerance for face-to-face interactions. Moving forward, understood boundaries that respect safety concerns will become the norm. They include:

• Agent and client riding in separate cars
• Following state and local guidelines for distancing
• Accepting some sellers or buyers will only want to interact virtually
• Wearing masks, gloves and shoe covers during property showings

CLOSING ONLINE
Even the “closing table” has become a virtual experience. The behind-the-scenes work of title searches all the way up to the tradition of physically sitting together at the closing table has shifted. Our company’s settlement agents now offer closing services through online services either in office, at the client’s home, or virtually. The entire experience models a traditional closing with the safety and security of an online environment.

Realtor Relationship
Now more than ever, a Realtor that understands your goals is key to your home sales success. Your agent will use the above benefits to streamline opportunities and make the most of one’s time. Building a trusting relationship with your agent will be critical. One’s agent must truly understand their taste and goals for the process to prove both rewarding and enjoyable. When interviewing agents, ask about their success in this market and the technology they can provide to give you the edge.

Successful real estate tools and trends continue to unfold. Join one of my free webinars to understand more about the impact of COVID-19 on your market and help you relate it to your situation. I, along with a team of experts, discuss short and long-term expectations. Visit https://lisa-molinari.weichert.com/resources/workshopsevents to sign up for an upcoming webinar for an upcoming webinar or contact me at lisa-molinari.weichert.com for a one-on-one regarding your real estate needs.

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