Technological advancements made and utilized during the initial year of the Covid-19 pandemic have continued to be embraced throughout multiple industries. The real estate industry has taken advantage of digital tools that have allowed them to communicate with clients and even provide tours of prospective properties online. While in person business has resumed in most of the country, advancements like virtual tours have found a lasting spot in the modern world of business.
Contactless technology has skyrocketed in recent years. While the Covid-19 pandemic made the implementation of these virtual advancements necessary, as time has gone on many industries have recognized and utilized these advancements to continue to find success for their business, and their clients.
In the real estate industry, virtual tours of prospective properties have made it easy for agents and their clients to view and discuss future transactions.
Beyond the obvious health and safety benefits of this technology, virtual tours have made it easy for clients located in different states or parts of the country/world to continue their real estate dreams from the comfort of their own home.
Real estate agent Mark Richter of the New York City brokerage Elegran recently spoke to Forbes Magazine about the benefits of this technology and its impact on the industry.
“Technology is not a hindrance but rather a necessary tool used to best serve clients. I think it’s important to evolve with technology that helps our clients achieve their goal of buying or selling a home.”
While this technology has been amazing for the industry, Richter and other major figures in the real estate sphere believe that in-person touring and meetings is still integral, and a necessary piece of any businesses success.
“Being with our client to see property gives buyers the extra level of confidence as they navigate inventory and when the time comes to bid. Every client is different with their needs depending on where they are with their search, but it’s vital that we don’t lose touch with our core values as a company and that’s the human element to the business and process,” Richter explained.
Justin Cohen, the vice president and broker at Barry Cohen Homes in Toronto also told Forbes about the importance of maintaining in-person touring and transactions within the real estate industry.
“Being at every showing has likely been our single biggest key to success. It’s our company’s policy to always have an agent meet the buyer and their agent because next to the seller the agent knows the house best. Most importantly, we are there to handle any objections or concerns they may have,” Cohen explained.
There’s also the element of real life human connection that is so important for so many industries. Paul Salazar of Hilton & Hyland emphasized this as well to Forbes.
“Once the buyer arrives, I always greet them by their name, so they feel welcomed and give them a complete tour of the house showcasing all the best features and details that only I know about. Not only that, but I am able to answer any questions and handle any objections the buyer may have to make them more comfortable, therefore increasing the chances they will write an offer.”
Location, location, location is the key rule to real estate investment, so being able to emphasize the details of a prospective community and what it has to offer is important when it comes to touring properties.
“During my tour, I always discuss the community, school district, shopping areas and any other relevant information about the location that a buyer would want to know. Being the neighborhood expert is an integral part of building trust between you and the buyer,” says Salazar.
Erica Chen of Elegran, agreed with this ideology, especially when it comes to real estate in major metropolitans such as NYC.
“New York real estate is so much more than what exists inside four walls. The success of my client’s real estate objectives is dependent on my ability to provide deeply researched knowledge of everything from the neighborhood to a building’s legacy to the materials,” Chen stated.
“While this information can be relayed over the phone or email, physically seeing the property can help turn what are merely specifications into a real connection. Why do millions of people insist on seeing the ‘Mona Lisa’ in person when it is far more available and accessible online at our fingertips? For some, it’s the feeling of its presence―the gravity and, for others, the nuances, perfections and flaws.”
While this technology has made so many industries and businesses advance in certain ways, it’s important to remember and continue to embrace the traditional ways in which we all not only do business, but live our lives.
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at eric.mastrota@thenationaldigest.com.
