5 Ways Top Real Estate Agents Are Adapting To COVID-19
As COVID-19 continues to wreak havoc on the nation, countless industries are suffering. More than 100,000 small businesses have closed their doors forever as a result. Even big companies like Brooks Brothers, Chuck E. Cheese, and Gold’s Gym aren’t immune to the devastation that the pandemic causes. Yet, real estate manages to thrive – thanks to savvy real estate agents who are embracing technology.
According to insights from top agents who participated in HomeLight’s second-quarter survey, they’re confident that these adaptations will continue long into the future. So, let’s take a look at the top ways real estate agents are adapting.
1. Tours go virtual
Real estate agents are using virtual tours, virtual open houses, and 3D tours as a safer way to show houses to their clients. As guidelines change regarding social distancing, virtual tours and the like are likely to continue, simply because it’s easier. The agent walks through the home, showing potential clients the property. At the end of the tour, the agent can upload the recording to the property’s listing for others to view.
2. Video conferences
Throughout the process of buying a house, clients and agents meet face to face to conduct business. Even at closing, those who are facilitating and participating in the transaction all come together to seal the deal. However, due to social distancing guidelines, this practice isn’t necessarily the safest option. Yet, agents are relying on video conferencing technologies like Facetime or Zoom to hold meetings. These programs are advantageous because there’s no traveling involved and the meeting can happen when it’s most convenient for everyone.
Throughout the home buying and selling process, there are going to be a lot of documents to sign. Again, with social distancing playing a big role in how business is conducted, agents are using eSignatures more frequently to do this. The agent can send their client the necessary documents through a program like DotLoop and then the client can sign on the virtual dotted line.
4. Digital floor plans and staging
Agents are using virtual showings and 3D tours, but they’re also using digital staging programs and virtual floor plans to help clients envision themselves and belongings in the house they’re interested in. As an example, buyers can figure out if their large bedroom set will fit into the master bedroom in the new house. Some programs can even allow the user to do a mock renovation just in case the buyer wants to change the floor plan.
5. Online listing sites
Sometimes it feels like browsing through those property listing sites is part of the house-hunting processes. Well, 54% of homebuyers are actually buying homes from these sites – some of which are sign unseen. Real estate agents are picking up on this and have started listing their clients’ properties on these sites to get leads. Pretty smart, right?
Are you ready for a different real estate industry?
Technology is changing almost every facet of our lives, so it shouldn’t be surprising that real estate agents are relying on tech to conduct business. Truthfully, it’s pretty much a guarantee that you’ll see more technological ways that agents are adapting to COVID-19. But, how?
Although we can’t say for sure just how technology is going to shape the future of real estate, we can say that these innovations are making it easier to carry out real estate transactions. It doesn’t matter if it’s finding an agent, browsing available listings, or signing closing documents, savvy agents are learning the ins and outs of these programs so that you, the client, can have a pleasant house buying (or selling) experience.
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