The Impact The COVID -19 Pandemic May Have On How The Real Estate Industry Functions In The Future.

May 15, 2020

Don’t Let The COVID-19 Pandemic Prevent You From Selling Your Home – Here Are Some Useful Selling Tips. 

The real estate industry in Canada has come to a screeching halt in many regions as the COVID -19 pandemic takes its toll on every aspect of our lives. With social distancing firmly in place, real estate companies have been forced re-think and re-engineer the way they successfully conduct business. 

We are typically in the busiest time of year for home sales. The future is unknown. No one knows when we will recover from this unprecedented shock. While it may prove more difficult to buy and sell your home, it is not impossible – thanks to technology and our ability as an industry to adapt. 

Here are some useful tips on selling your home: 

Create a 3 D Home Tour to replace in person showing 

With open houses being shunned and homeowners skittish to let would-be buyers in, real estate professionals are turning to technology to give buyers a look inside properties by recording or streaming virtual tours, and holding open houses where buyers jump on a video conference to walk through the home. Many are using technology to turn 360-degree panoramic photos of properties into 3D virtual tours. 

In these “virtual tours,” agents act as narrator and walk through homes with their smartphone's video camera capturing a home's key selling points while buyers watch virtually from home. 

Stage a Virtual Open house event to replace a conventional open house 

With social distancing limitations, it is difficult to hold an in-person open house. The alternative is to hold a virtual open house, where a virtual tour of the home is uploaded and a digital walk through is performed for everyone tuned on line. Typically, a Facebook page can be set up for the home and a virtual open house event can be created. The real estate professional walks the viewers through the home as if he/she were touring with the buyer in person. 

Be prepared to be patient and flexible 

Actions that once could have taken, a few minutes or a few hours to complete, may take much longer. This is due to the fact that many of the people involved in the sale may be working under different circumstances – limited hours, home office, affected by travel restrictions, may be infected by the virus, etc. Be prepared to wait longer for documents to be completed and reschedule of tasks. 

You may have to close your deal with a “drive through closing”, where by you meet the concerned parties at a parking lot, and handing documents through a car window using gloves.  

In these trying times, a real estate company that is tech and video savvy and has successfully sold homes using virtual marketing is important – that describes us perfectly. Contact us if you want to sell or buy a home. 

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