With the current global pandemic there are many businesses which have been affected by COVID-19. The real estate industry has had to quickly adapt to ever changing restrictions and regulations whilst having to maintain the appropriate balancing act with the property market and their clients.
The industry has responded to the changes amazingly well. We have seen many real estate businesses not only continue to operate but thrive with the new changes in their business and ways of working. We discuss a few of the positive changes the pandemic has had on our industry.
A number of agencies have taken up virtual home opens of properties. Especially when the industry was restricted to showing one person through a home open. There are some incredible software options out there which allow you to conduct your own virtual tours, or you can engage a third party to do these for you.
Virtual tours are a fantastic tool for real estate agents and business owners. They allow you to show genuinely interested parties through. It also opens up your market to more prospective tenants and buyers.
Some agencies have chosen to temporarily close their physical offices. Moving their offices and staff to a remote set-up. If your property software wasn’t cloud based before, many agencies decided to switch to cloud based software such as Property Me and Property Tree.
Another interesting change was the rise in paperless offices, with the use of software like Inspection Express which allows you to send paperless leases (NSW only), paperless condition reports and remote routine inspections. Inspection Express had over 15,000 remote inspections scheduled with over 7,000 routines returned and completed by tenants.
The pandemic saw the rise of live streamed auctions. Some of the agencies we saw switching to online auctions were Mcgrath Estate Agents, The Agency and Ray White. Who ramped up their existing online auction service for sellers. Some of the digital platforms being used by the industry include “GAVL” “Facebook Live” and “Auction Now.”
Remote Routine Inspections
An exciting change was the introduction of remote routine inspections for the property management industry. Due to the restrictions or agencies simply deciding the risk was too great for their tenants and staff. Agencies and tenants embraced using remote routine inspections such as those offered by Inspection Express.
Remote routine inspections have been a resounding success with many agencies. With some thinking about continuing them after the pandemic, due to the amount of time they saved and the quality of the reports being returned.
Inspection Express its the ultimate solution if you are looking to get your office paperless. To book a demo head to https://ipropertyexpress.com/book-a-demo/
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