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Old 08-11-2020, 02:39 PM   #1
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How is Coronavirus Affecting Real Estate?
Corona virus has been affecting businesses all over the world. The chaos of lockdowns, quarantines, and uncertainty happens everywhere. And the real estate market is not an exception. To keep going in this industry, the move to an online environment is offering for both home buyers and sellers.

What Is Coronavirus / COVID-19?

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus. It was first reported in China on the last day of 2019 and has quickly spread across the globe in the first few months of 2020. With its high contagiousness, more than 8,1 million people have been infected. Coronavirus has been declared a pandemic by the World Health Organization.

Many businesses have been on lockdown, people are implementing social distancing measures to slow the spread of the coronavirus

Impact of COVID-19 on the Real Estate Market

Coronavirus has made things quickly change with 2.6 billion across the world now living under some sort of lockdown quarantine. People stay home, offices and shops closed, production stalls and over 30 million Americans had filed for unemployment.

In this uncertain situation, different real estate markets have different responses. For example, in New York, the market seems to be a complete standstill while in the southwest, real estate continues to press on in many places. However, most real estate agents are trending to move into online selling instead of offline such as open houses or auctions.

How Can Real Estate Agents Combat COVID-19?

In the concept of lockdown quarantine, people can not go out doing in-person visit, real estate agents should understand this and make use of technology to approach clients. It means they should drive their business in a virtual way. For example, they can offer virtual staging, 3D property tours, walking through videos,...

We work in real estate photo editing services and we offer virtual staging service and video editing service. We realize that the orders for virtual staging and video editing have been increased a lot. It proves that many real estate agents are going in the right direction to approve their potential clients.
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