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The current pandemic has necessitated the integration of adaptive and innovative solutions, especially in the real estate industry. Open houses and individual tours are no longer possible due to social distancing and stay-at-home orders. While the way things are certainly hinder traditional methods used in real estate, technology affords some workarounds that have already helped facilitate home sales.

Before the pandemic, virtual home tours were very much a reality. Many individuals still prefer to visit the physical location to see the areas they are most interested in. Yet, for those with busy schedules as well as individuals looking to relocate to a new city, virtual tours have already enabled more potential buyers to view a property and bypass obstacles such as time or commute. Before the pandemic, virtual tours were not as popular as in-person meetings, but there certainly was a market for them. 

Now, virtual home tours have proven to be an especially useful tool. In Canada, the number of requests for virtual home tours since the pandemic’s start has increased by nearly 500%. The health and safety of prospective buyers, home sellers, and real estate professionals is a top priority; at the same time, the stagnation of the real estate market is bound to have lasting detrimental effects, at least in the short term. Virtual home tours offer a solution to individuals who are still looking to buy a home during this pandemic. There has been a significant rise in virtual home tours in Canada since the pandemic started, and the role of digital communication continues to grow as the social distancing orders persist.

The new norm in real estate will be more technological and remote as the result of this pandemic. Some individuals may find that virtual tours are more convenient, while others may retain some reservations about meeting in person, even after the pandemic has been contained. Because of the current climate in real estate and the practices that are growing in popularity, real estate professionals must be willing and able to adopt virtual tours, video listings, and 3D models to appeal to future prospective buyers.

If you are looking to buy or sell a property in the GTA, please contact Mehran Redjvani of Re/Max West.