With many Americans remain in quarantine as a result of COVID-19, most homebuyers and sellers are choosing to wait out the pandemic for their next move. Because most homeowners are unaccustomed to staying at home for extended periods, cabin fever is quickly setting in for many individuals.
As a result of this collective onset of cabin fever, we can expect this eagerness for a change of scenery to bring an ever bigger influx of buyers once this pandemic comes to an end. In other words, people who were on the fence about buying or selling may end up being more inclined to make a move. This period following the pandemic may even draw people to the market who otherwise had no plans of buying or selling before the COVID-19 outbreak in the U.S.
Due to this expectation for an increase of buyers and sellers in the market, now is an excellent time for real estate agents to ramp up their marketing efforts by increasing their online presence while social distancing. Agents who have put marketing campaigns on hold during the COVID-19 pandemic may miss out on important opportunities to connect with prospective clients through avenues such as paid ad campaigns and social media.
We are currently living in a time of overwhelming uncertainty. Nobody knows for sure how the pandemic will last in the U.S. However, real estate agents should reevaluate their approach to these conditions and adjust their current operations accordingly. Although it can be challenging to see the light at the end of the tunnel, history has shown us that the industry will eventually stabilize and potentially thrive in the future.