Why Is Real Estate An Essential Service?

Minnesota and Wisconsin Governors declared real estate an essential service when they declared their Safe At Home orders. Life’s basic needs are food, water, and shelter. Since real estate is providing shelter, it seems logical real estate should be an essential service.

First of all, real estate services are far more than Realtors listing and selling homes. They encompass title companies, mortgage services, appraisers, home inspections, photographers, property management, and the building industry. All these services together not only provide people with shelter, they are a huge part of the economy!

People need to move despite the pandemic. Divorce happens, people lose their jobs and need to sell their homes, some people had already started the selling and buying process prior to the stay at home orders. It’s a Realtor’s job to help people who are in need of buying or selling at home, even at this time.

How is all this working with the Stay At Home order, social distancing, and recommendations from the CDC for COVID-19?

Realtors have had to get their creative video juices flowing as virtual open houses, and virtual showings are what is being done right now. Buyers are only going to an actual showing after doing a virtual showing or tour and deciding the home is one they probably want to buy. Open houses are not allowed right now, making virtual open houses very popular, especially on social media. Realtors are able to do all the buying and selling paperwork over the phone and online, so there is really no need for any person to person contact, which is perfect social distancing.

Mortgage bankers are also able to do most of their business online, with many of them working from home.

Appraisers are still doing some traditional appraisals, but many banks are allowing drive by appraisals on some properties. In a drive by appraisal, the appraiser doesn’t need to even enter a home.

Home inspectors are still inspecting, in person, but they are doing their inspections alone, and following CDC guidelines such as gloves, face masks, hand sanitizer, and disinfecting areas that must be touched during an inspection.

Photographers are hired by Realtors to shoot photos and videos for listings. Now more than ever, being able to “tour” a home virtually is important, making good photography a must.

Property managers also need to be working to help those who are renting or need to rent a place.

New construction is a huge business along with their supply chain. If this system collapses, it will bring huge devastation to the economy.

Some buyers and sellers are deciding to hold on their real estate activities, while others are moving forward. Realtors are here to help in any way we safely can.

RE/MAX RESULTS