09 Jun Real Estate’s “New Normal”

As states begin to reopen and new protective measures are determined, there’s quite a bit of conversation going on around the concept of the “new normal.” While every industry has to figure out what this looks like for their particular situation, real estate will certainly have its own set of “new normal” practices. Many of you may already be putting these into place, but here are a few of the ideas we’re seeing take place in the market.

Housing Redesign

Houses, apartments, and townhomes were already beginning to see shifts in design. As tech advancements made work from home more accessible, 1-click shopping simpler, and digital classes readily available, new builds offered features that paralleled these behaviors. Now, Covid-19 has amplified the need for elements like:

-High-end Wi-Fi infrastructure

-Flex spaces that could be the home office, home gym, etc.

-Better air quality and cleaning capabilities

-New garage configurations due to decreased cars per person. Some ideas discussed about this space is that it could be used for new entertainment zones, storage, or secured package delivery

Whatever redesign due to coronavirus looks like, homes will need to offer a new level of flexibility, especially as housing density continues to increase and people spend less time out.

New Marketing and Sales Efforts

Builders and developers also are figuring out updated digital strategies for making their marketing and sales frictionless for buyers who are still hesitant to engage in the traditional buying experience. This will mean pushing into newer technology that limits exposure, but also just makes the overall process simpler for the buyer. How sellers are doing this is through things like:

-Virtual or 3D walk-through tours. Making these easily accessible can be incredibly helpful in bringing a buyer through the evaluation process by the time they speak to an agent.

-Applying online and executing leases online

-Improving digital platforms for management

The Bottom Line

It’s always hard to say what trends will stick before there is another disruption or advancement. But as builders and developers begin to work on new projects, following these trends are sure to help you stay ahead of the curve. What do you think? Share your thoughts with us via our FacebookTwitterInstagram, or LinkedIn.

Bruce Freides