How COVID has Changed Us and the Industry

buyside | March 26, 2021

This month marks the one-year anniversary of the coronavirus outbreak that turned our world upside down. When I think about that time, I think of barren grocery shelves, empty streets, and uncertainty. Looking back, the adjustment of working from home and changing the way we do our jobs caused monumental changes within ourselves and the entire industry.

One of the biggest changes was moving all communication to a virtual setting. Instead of traveling to see clients for trainings or conferences, virtual meetings and calls became our new normal. Everyone had to adapt and think of creative ideas to keep businesses afloat. In the real estate industry, agents started walking through open houses on their cell phones, giving clients an opportunity to see potential homes in a pandemic-friendly way. The unexpected downtime that quarantine gave us allowed agents to build their online brand, organize their database, and find new ways to generate business.

With everyone working from home, the real estate market shifted demand from metropolitan areas to more rural areas since most industries moved to a digital model and where it is easier to social distance. The result of how Americans adjust to the “new normal” will ultimately play a huge factor in which areas will experience greater demand and growth in the next few years, and which areas will stagnate. Several cities and counties that were once perceived to be too small, too hot, or lacking in amenities, are now more desirable as Americans seek warmer, less dense places that offer more access to the outdoors and open space. The pandemic has helped many Americans come to the realization that they should live where they want to live, not where their job is.

Instead of dwelling on how the industry was pre-pandemic, embrace the changes and use it to your advantage. Homeowners that are currently planning to buy or sell are uncertain about the current market. Learn as much as you can about the current market trends and research particular neighborhoods that your clients are now interested in. They will be relieved that you are taking their new interests into account and offering them valuable knowledge. Embracing the change the pandemic has brought will only work in your favor.