The real estate industry is turning to technology for solutions amid COVID-19
Trend - As in-person property viewings are a cause of concern during the health pandemic, real estate agents are increasingly turning to technology to continue servicing their clients. Through virtual reality, 3D tech, and social media live streams, realtors are able to continue showing properties for sale.
Insight - Consumers are pushing to continue with business as usual while adhering to the governments' safety directives. As consumers' lives across North America remain on hold and their everyday has drastically changed, postponing large milestones and investments that they've planned for some time can be a source of additional stress. Moving forward with plans and making important life decisions allow individuals to experience some sense of normalcy as they navigate a changed world.
Insight - Consumers are pushing to continue with business as usual while adhering to the governments' safety directives. As consumers' lives across North America remain on hold and their everyday has drastically changed, postponing large milestones and investments that they've planned for some time can be a source of additional stress. Moving forward with plans and making important life decisions allow individuals to experience some sense of normalcy as they navigate a changed world.
Workshop Question - How might you adopt an in-person service to the virtual environment?
Trend Themes
1. Virtual Home Tours - Virtual home tours are booming in popularity as physical distancing rules persist during the COVID-19 pandemic.
2. Augmented Reality Communication Platforms - A new augmented reality communication platform is debuted by Frontdoor, a leading provider of home service plans, to provide remote service during and potentially after the COVID-19 pandemic.
3. Livestream Virtual Reality Tours - Real estate businesses are tapping into livestream virtual reality tours to allow clients to continue exploring their dream homes from the safety and comfort of their couch.
Industry Implications
1. Real Estate - The real estate industry is heavily impacted by the COVID-19 pandemic and is turning to technology for solutions such as virtual home tours and augmented reality communication platforms.
2. Home Services - Home services companies are utilizing augmented reality communication platforms to provide remote services to customers during the pandemic.
3. Technology - The boom in virtual home tours and augmented reality communication platforms demonstrate opportunities for innovative technology to disrupt the traditional real estate industry.
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Date Range:
May 20 — May 20
Trending:
Warm
Consumer Insight Topics:
