Coronavirus: How COVID-19 will impact Real Estate

From the start of my real estate career, I believed that this business should move in the direction that negates the need for a shop front or an office for agents to work out of, especially as agents spend most of their day in someone’s home either discussing coming to the market or with buyers selling it.

So when I started my own real estate business in 2013 it was created and still operates remotely without the need for a shop front!  And, because of this, I have not had to worry about implementing remote work procedures in response to the current Covid-19 pandemic other than implementing work practices to ensure the health safety of all involved.   These include increased sanitation, maintaining social distancing, cancelling all open homes and auctions and limiting the number of people allowed at an inspection at any given time.

Since One Agency Pinkerton Properties is a full-service real estate company, and that I have been operating remotely from day one, my business is one of the better-placed agencies to respond to the current crisis.

My business already provides a video on every property that is marketed for sale and has always offered private inspections.  Worth noting, is that I have successful sold to interstate buyers who have never seen the home in person until after settlement and likewise to interstate tenants who are unable to view personally.

Working from a remote workspace has other hidden benefits too – the biggest one being productivity.  A boost in efficiency has been credited with not having to attend numerous meetings that consume around 7-8 hours in any given week.

Despite widespread closures and restrictions now severely impacting the way businesses can be run, I’m not fazed, as I can literally do virtual inspections,  appraisals and negotiations over the phone.  The exchange of contracts and documents via online programs like PEXA means you can buy or sell a home without having to visit a  ‘bricks & mortar’ office.

And so with the majority of real estate services able to be accessed and carried out online, I believe that Covid-19 might just be the one thing that wakes up traditional agencies and gets them thinking about how they are positioned to respond in a way that won’t impact upon the services they provide for their clients!

But it can’t happen over night for these larger agencies.  It will require training and changing some facets of work culture “to efficiently carry out change industry-wide”.

A reminder that “bigger is not always better”!!!