Many of us are getting used to this "new normal" of working at home, but how is it affecting Real Estate, a business is based upon personal connection and will it be here to stay?
One of the biggest changes within Real Estate has been the cancellation of ALL Open Houses. This is a large portion of our business and we've adapted to new means of showing interested parties the homes - AKA "virtual" Open Houses. This is a word that we've used a lot within the past 2 months - virtual. Now that Minnesota is beginning to reopen, we are able to host Open Houses in homes as long as CDC guidelines are followed. Our opinion is that Open Houses will forever be changed. While we can host them in either vacant or occupied homes, many sellers are uncomfortable with open houses in their home at this time. We believe that open houses will only be available for vacant homes moving forward.
Another big change would be showing and closing on a house. Let's be honest, every realtor has clients who like to "window shop". Meaning, they may not be serious about a home, but would like to see it anyway. Showing restrictions have eliminated that clientele within homes because they are only taking very serious buyers. As for closings, only those that are signing the documents are allowed to attend. Generally, both the realtor and lender will be there to deal with any issues that may arise at closing. While we believe it can be reassuring, we normally don't have any need to be there! (Meaning we've done our jobs!) We believe this change will remain in our business, but we will be one call away if any issues arise.
Lastly, the largest change within Real Estate would be added technology. There has been A LOT of adapting within our business in regards to technology, not all new, but now necessary! With personal connections being such an important and impactful portion of real estate - video has become huge! It's a great way to connect with people and show them who you are, while still following CDC guidelines ;). Our team has had a lot of fun learning to do video and communicate with our clients through it. Other technology adaptions have been teaching through webinars, creating property videos for our listings, and virtual tours for our buyers! These changes are here to stay and to hopefully better serve you!