The New Reality of Real Estate

Let me start by saying that I hope you and yours are safe, healthy and sound during these trying times.  As of the writing of this post, my family and I have been in virtual isolation for over a month now.  I am the only person with our company who has been to our offices in the past 5-6 weeks and in spite of real estate being deemed an essential service, our business has ground to a virtual halt for obvious reasons.

Seeing as how I’ve had more time than usual to ponder things, I have used a disproportionate amount of my time wondering what my next step should be.  Real estate agents and brokers are no different from everybody else, and like you, we are scared, worried and afraid that all the time, energy and resources we have invested in our business and careers is being washed away and we will be left with nothing.

The reality is that things only appear so dark because we cannot yet see the light at the end of the tunnel.  We all wonder how long it will take for things to get back to normal and what will that normal look like?  Having experienced the terrible trials and tribulations of what happened during and after housing market collapse in 2008, all I can say with certainty that this too shall pass.

In addition to my time spent pondering the fate of humanity, I am taking advantage of this opportunity to enroll in a few different online classes, I’ve knocked the dust off several books I’ve been putting off reading for some time now and I’m completely revamping my website and social media footprints.  Another big part of my personal improvement and marketing revitalization plan is the purchase of new camera equipment and the software needed to expand my abilities to better interact with customers, market and show properties in the virtual world.  The good news is that my teenager is now stuck at home due to her school being closed, which means I have an in house expert to help figure out how to use all of this newfangled technology.

And this brings us to the heart of my post today:  Is our new reality a virtual reality?  My definitive answer is maybe yes, maybe no.  I realize that answer may not seem definitive to you, but it’s actually very much so.  Virtual tours, virtual meetings and virtual closings have been around a while now and are nothing new to the real estate industry.  The main difference now compared to a decade ago is the superb level of interactivity available in a high-end virtual tour, along with the much-improved overall quality of the virtual experience as a whole. 

But in spite of the increased role virtual reality will continue to play throughout the real estate industry, it still has a long way to go before it can replace the hands on, face to face and very personal nature of selling and buying homes.  The real reality is that Virtual Reality will never fully facilitate the emotions and the feelings that are an inherit part of the customer’s decision-making process when purchasing a home.  Another reality is that Virtual Reality will never serve as a substitute for the professionalism, etiquette, diligence, organizational and communication skills necessary for real estate agents who wish to provide their clients with the highest level of customer care. 

So, when things settle into what we’ll all soon be referring to as the new normal, I think it’s important that I, along with my fellow agents and customers remember that not everything in this world can and should be strictly virtual, especially not when it comes to how we interact each other.  Stay healthy, stay happy and I hope to see you in both the virtual and the real world soon!

For more information on selling your house, buying your new home or investing in Central Florida’s amazing real estate market, please contact me - Brian Hayes, Realtor®