Social distancing and impact of COVID-19 on real estate

While some wonder “What’s next?” during the COVID-19 outbreak, there are those who are beginning to look at what the world will be like following the pandemic. Will we bounce back and return to “normal” or will the effects of the virus create a “new” normal for us in our business and social lives? There is good reason to believe, for example, that the social distancing impact of COVID-19 could become the standard for conducting our lives. Here are our thoughts on the impact of social distancing andCOVID-19 on real estate.

What Is Social Distancing And Where Did It Originate?

Social distancing is the physical separation from others in an effort to control contagious diseases like theCOVID-19. It is designed to keep those who are infected from interacting with those who are not. Mathematically, social distancing is an effective way to flatten the curve of a pandemic.  It is generally accepted that by when 25% of the population reduces their social contacts by 50%, it provides an effective reproduction number of about 81%.

Social distancing is not new. It was used in 1918 during what was known as the Spanish flu. Today social distancing measures closing schools, canceling large events, working from home, keeping a distance of 6-feet between others and other steps. 

To some degree, social distancing habits were already becoming more commonplace even prior to this latest outbreak. Social media was still creating more platforms and ways in which we could stay connected without being in the same place. Grocery shoppers were already embracing pick-up services from stores and even grocery delivery services were expanding ahead of the virus. Families were discovering the convenience of having their favorite meals brought to their homes via restaurant delivery services. History may attempt to giveCOVID-19 credit for the establishment of these services, but these services were already growing rapidly before the outbreak. There already was a built-in desire for more convenient and efficient online services to make our lives better. Especially if they could save us money. 

The virus will probably be credited with expanding the work from the home model as well. But that too had been increasing in popularity before the pandemic. What many companies will realize, however, is that it is more efficient to have employees work from home, minimizing office space and overhead. Working from home can lead to leaner management and increased job satisfaction levels. Overall, it can lead to less traffic, accidents, fuel expense, and pollution. Working from home will help make social distancing more of the norm moving forward.

The Impact of Social Distancing because of COVID-19 on the Real Estate Market

So, if, in fact, social distancing does become more a part of our daily routine, how will that impact other businesses where human interaction has been critical? What about the real estate industry where open houses and walking through stranger’s homes and having them walk through yours was commonplace? What impact will this have on real estate agents?

Again, the fact is, it was already happening.

People were already screening for their own homes and getting pre-qualified for loans before contacting a real estate agent. Like in other areas of our lives, this social distancing will become even more of the norm moving forward. Homebuyers and sellers will have fewer issues with taking greater control of the home buying and selling process. Like working from home, they will realize paying a high commission for real estate agents to serve as a guide will become less critical. They will, and are, realizing that there is a better, more efficient, and cost-effective way to buy and sell real estate. 

For many in the Miami-Dade, Broward, and Palm Beach County, Florida area, that way is through Richr.com. This innovative real estate sales and purchase platform offers buyers and sellers all the services, tools, knowledge, and hand-holding they need to guide them through a real estate purchase and sale while minimizing social interaction. It puts more control in the consumer’s hands. 

Richr was created under the concept that individuals should have the power to take more control of the home real estate buying and selling process. By empowering FSBOs, for sale by owners, Richr can help relieve them of the heavy financial burden of expensive real estate services, while still facilitating all their needs. Whether consumers are considering involvement in a real estate sale or purchase due to changing jobs, downsizing, upgrading, a growing family or a divorce, Richr can help. 

Along with ensuring a home gets listed on the Miami-Dade MLS, Richr gets houses exposure on over 750 websites including Trulia, Zillow, Redfin, and Realtor.com. This gets properties in front of thousands of people interested in buying. These, too, are people who are looking for a streamlined way to conduct their real estate transactions. 

Among other things,COVID-19 is making social distancing the new norm. It will affect how we work, where we work, and who we work with. It will increasingly impact our vendor choices and how we conduct business. It impacts everything from buying lunch to buying a home. The impact of social distancing and coronavirus on real estate is going to be significant.

Selling a home through Richr can be empowering. It is a rewarding experience to realize you can take control of such a financially important part of your life without giving away hard-earned equity. Whether this is your first or last real estate experience, Richr can make it more profitable. We invite you to learn more and see for yourself. 

If you are interested in buying or selling real estate in the Miami-Dade, Broward, and Palm Beach County area and are concerned about social distancing, connect with Richr.com. We are rapidly becoming the new normal in real estate in South Florida.