In the recent past, people in almost all industries have had to get used to working remotely, and this is certainly true of those who make a living from real estate.
From agents and brokers to marketers and investors, the era of visiting the office and meeting clients and clients in person is over, and a brave new world awaits you.
So how has teleworking culture and technology impacted the real estate industry, and what lasting changes have occurred as a result?
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Had to deal with data fragmentation
One of the first things that the rise of teleworking fueled by the pandemic drew attention to was that real estate professionals could no longer ignore the benefits. centralization and unification of data…
It used to be all too easy to fall into bad habits and end up with critical information scattered all over the place, whether it’s stored on personal devices, downloaded to a non-standard cloud service, or stored on a memory stick.
Aside from the inconvenience associated with this, the safety implications were dire as well. As teleworking makes employees more dependent on fast and consistent file access, a consistent approach to data storage has become critical to ensure productivity and encourage collaboration.
Online real estate marketing platforms have been around for many years, but the global pandemic has meant that they have truly proven themselves in enabling realtors to better cope with changes and constraints in their daily activities, as well as overcome the challenges that would otherwise exist in their business. remotely.
Most importantly, being able to use online tools to conduct virtual views and provide excellent multimedia coverage of properties meant that even potential buyers who were unable to come to personally view the property prior to the deal could make a decision without prior notice. too risky game.
Combination these strategies and the need to be familiar with technologies that are suitable for effectively representing ownership of them will undoubtedly determine the working practices and responsibilities of realtors in the future, even if the industry returns to a semblance of normality.
Demand varies widely, uncertainty persists
The telecommuting effect, more widely applied across all employment sectors, meant that real estate saw a dramatic shift in priorities for both domestic and commercial clients.
Suddenly, with offices vacated and people sitting at home for weeks or months in a row, businesses of all sizes no longer needed the large office space they needed to access. The impact on the retail and hospitality sectors has also caused disruption and unrest in urbanized areas, and it is unclear if the situation will calm when workers return to offices in 2021 and beyond.
In addition, there is the fact that many homeworkers have come to terms with the shortcomings of their current property, whether due to a lack of indoor or outdoor space, which has led to an increase in the number of those looking to raise sticks and move to less built-up areas where they can work remotely, while getting more for your money.
House prices continue to spike, suggesting that the real estate industry is being forced to cope with the indirect impacts of COVID-19 and the teleworking trends it is fueling, as well as the direct impacts.
As with any major global turmoil, there are winners and losers in real estate, and you’ll need a crystal ball to see what happens next.