COVID-19 changed how we buy and sell homes

The pandemic has changed the way in which many industry sectors operate, and real estate is no different. In a very short period, the process of buying and selling a home changed. Face-to-face interactions and in-person open houses that were once the norm, were replaced with virtual tours and live streams. The show had to go on. People were still buying and selling, and real estate agents had to change the way they did business. We all had to learn to navigate the real estate market. This has given rise to an adoption of the latest technology which has changed the real estate market from here forward.

Many of the real estate practices introduced or accelerated during the pandemic have led to greater efficiencies and better customer experiences for agents, and home buyers and sellers. There was an industry shift towards adaption and innovative approaches. Much of this change was already in motion, but the pandemic accelerated the process.

Digital platforms became a rising trend — agents moved towards innovative approaches to connect with buyers and sellers, including optimizing 3D virtual tours, home searching tools and online contract signing. While Covid-19 had evidently changed the way the world operates, Nobul responded with services that enhance the customer experience, even as restrictions ease. Nobul is an industry leader providing new and exciting methods when buying and selling real estate including 3D virtual tours, video tours and professional photography.

Moving onto Digital Platforms

At the start of the pandemic, in-person open houses were suspended. Home buyers were hesitant to enter someone else’s home, while home sellers were hesitant for strangers to enter their home and put their health at risk. Buyers, instead of touring in-person, attended virtual tours which allowed agents to show listings and allowed buyers to walk-through each room virtually. Essentially buyers were able to visit open houses online and sellers could show their home safely. Agents were able to resume their business, but they had to come out of their comfort zone — quickly adapting to virtual platforms and learning 3D tour software like Matterport.

Making the Right Impression Online

Buyers are now searching for property online without even leaving the couch, the same way consumers flock to online shopping. Digital platforms, including Nobul, allow home shoppers to view real estate listings and assess important information about the properties. Even when open houses resumed, buyers continued this practice.

There is an advantage to being able to view more properties online in one day than you can visit in person. Virtual tours, and high-quality professional photographs and videos bring homes to life online. This helps to narrow down the listings before deciding which are worth touring in person. Sellers get maximum exposure and visibility, giving them the best chance at selling their home for top dollar.

Streamlining Transactions

The paperwork that comes along with selling and buying real estate has also become more efficient. Signing documents was mostly done in person, but electronic signatures, which have been used in real estate before the pandemic, are now the new norm. Virtual e-signing companies like DocuSign allow buyers, sellers and agents to review offers, allow changes and sign. Electronic signatures are simple and expeditious. Agents are now proving that socially distance real estate is achievable.