Consumers May Rely on Agents Even More Post-Pandemic
June 5, 2020
The COVID-19 pandemic has changed the ways people have conducted business, and some housing experts predict it will forever change real estate’s processes. Consumers likely will depend more on their real estate agent than ever before, Jennifer Anderson, a real estate pro in the San Diego area and an honoree in the National Association of REALTORS®’ “30 Under 30” class of 2014, wrote in a recent column for Forbes.com.
Before the pandemic, many real estate processes still required printed documentation. A digital transformation has occurred in the housing market as real estate professionals rushed to adapt how they showed and closed on homes while the coronavirus outbreak placed cities in lockdown.
“Even though most buyers will always prefer in-person walk-throughs, virtual showings offer a beneficial intermediary step for both buyers and sellers,” Anderson notes. “Technologies like augmented and virtual reality were a lifeline for the real estate industry during strict social distancing regulations.”
Anderson predicts more real estate professionals will adopt technology to digitize sales moving forward. With health and safety now at the forefront, buyers also will likely look to their agents for more information, such as in weighing environmental considerations or even more financial impacts since the pandemic.
Anderson predicts a move from high-density areas of the country to the suburbs and exurbs as consumers prefer more distance among neighbors. She also foresees an increase in second homes, as some find greater comfort in owning a home in a less populated location for domestic vacationing and security.
“COVID-19 won’t stop us from buying and selling homes, but it will change how, where, when, and why we buy,” Anderson writes. “By working with a forward-thinking agent and utilizing the latest technology, you can prepare for an uncertain future and make a smart investment in your long-term health and happiness.”
Updated: July 02, 2020