Real estate industry uses technology to maintain relationships

Years before coronavirus came on the scene, the real estate industry had embraced the virtues of technology to expand its reach for potential clients.

So with this latest shock to the market delivering a blow to realtors and clients alike, the established reliance on technology for things like virtual tours is expected to help the industry cope.

But realtors recognize that high-tech gimmicks can’t replace the all-important face-to-face that helps forge relationships. Like with other industries, realtors and their clients know they will just have to hold on tight and ride out the turbulence.

As the calendar turned to April, Contra Costa Health Services eased restrictions and recognized the real estate industry as an “essential” business – a positive development to help all involved going forward.

Moving during the crisis

Realtors contacted by the Pioneer agreed that there has been a slowdown since mid-March, when the shelter in place order took effect. The widespread shutdown of the economy left workers feeling uncertain.

“Some are concerned about their ability to purchase because they are unsure of their job stability,’’ said Leigh Klock, a realtor with Coldwell Banker.

She noted that no matter what is going on in the world, there are certain factors that still motivate a need for people to move – individual circumstances like a job change, a death, a birth, health status change, a marriage, a divorce or retirement.

“It’s still our responsibility to help those who need to move,” said Klock, a nine-year veteran of the industry who previously was a nurse working and teaching in a hospital setting.

One of Klock’s clients reflects the urgency that requires a move sooner rather than later. She is in a two-story home and has difficulty climbing the stairs, making her at risk for falls.

Bringing hope

Both Klock and Cathy Baigent, with the Dudum Real Estate Group, see all segments of the process coming together and working to keep transactions moving forward. Baigent noted that lenders and mortgage are doing their part to lessen the apprehension that clients are experiencing, as loan approval is changing by the day.

From the broker’s perspective, virtual tours are an important tool taking on even greater significance to ensure properties are continuing to get visits by potential buyers, even from a distance. Baigent sees established technological tools as key for enabling the real estate market to weather the current economic hardships better than other industries.

But real estate at its core remains all about relationships. No text, phone call or visit via Zoom can replace the live exchange, the handshake or the hug that can give a client hope during uncertain times.

So for the time being, the real estate community is doing what it can with all the means at its disposal to serve clients.

“Provide a sense of calm and optimism in this time, that is what is going on,” said Baigent, who has seen her share of market upheaval since she became a licensed realtor in 1985.

“Hoping they have a sense of feeling safe and staying well. That is what is most important thing over anything else,” she said.