Issuu for Real Estate - COVID-19 Impact

At first, there was uncertainty. Few people listed their homes during the first wave of lockdowns. And even as time went on, it became clear that tried-and-true buyer sources like open houses and office walk-ins would need to radically (and quickly) change. We masked up, the proverbial and literal gloves came out, and we set out bootie baskets as the first tentative sellers reached out.

The buyers also changed. People looked for homes that would fit their lifestyle as the world tried to define the new normal. And they wanted space - yards for the kids and pets to play and spare bedrooms they could transform into work- and -school from home space.

Despite an uncertain economy, home sales began to skyrocket.

According to a study by the National Association of Realtors (NAR), in April 2020, 36 percent of homebuyers were first-time buyers with a median age of 34. The tech-savvy generation represents the largest group of home buyers in the US today.

Even as the economy opens back up and traditional marketing tactics return, this new buyer cohort appreciates digital publishing more than real estate marketing flyers, and is often willing to purchase houses online even without seeing them in person. Instead, they rely on virtual tours, Google Street View, satellite photography, Facetime tours with their Realtors, and information found over the internet to decide on the most significant investment of their lives.

At the same time, inventory dried up. So real estate professionals have had challenges on many fronts - lots of anxious and tech-savvy buyers in bidding wars, and a need to heavily market to prospective sellers who, in many cases, simply don’t want to move right now.

If you own a real estate agency or if you are working as a real estate agent, you need to catch the attention of the digitally-driven home sellers and buyers to get your share of the sales pie. Building your brand so they will see you as a trustable and reliable authority in home buying and selling while providing them with an excellent customer experience every step of the way.

Digital tools and real estate tech are not only in focus because of the pandemic. Millennials and Gen Zs are embracing real estate technologies and the digital home buying process.

Roughly 39 percent of millennials are comfortable buying a home online. Fifty-nine percent of those aged 27 to 41 are somewhat, very, or extremely confident about making an offer even without seeing the property personally. They are also extremely confident using tech tools such as 3D virtual tours, viewing digital floor plans, and unlocking properties using their smartphones to tour houses on their own time.

Gen Zs, those aged 18 to 26, have similar sentiments regarding the home buying process using digital tools.

Issuu will help tell your stories and enrich the lives of your customers through meaningful content. Sell more houses with Issuu – find the best digital publishing plan that’s right for you!