Published Apr 01, 2020

3 Ways Tech Will Help the Real Estate Industry During the COVID-19 Crisis

man reviews chart that shows how rently protects renters against covid-19

For years now, technology has been a major force within real estate, propelling the industry further than ever before imagined. Revolutionary tech tools are shaping both commercial and residential real estate sectors to create an entirely new paradigm. 

As PropTech takes major strides to transition from a luxury to a necessity, the global business market faces an unprecedented tragedy. COVID-19, a particularly menacing strain of the coronavirus, has hurled the world into a global pandemic. It has evolved into a situation unlike anything modern society has faced thus far. The COVID-19 pandemic is a major disruption to industries all around the world as populations adapt to reduce the number of those negatively affected by the virus. Quarantines, stay-home orders, teleworking teams, and social distancing have become today’s norm as the world attempts to flatten the curve. 

While these changes in behavior impact the way work gets done, professionals are still hustling thanks to technology. Professionals in every industry are enabled to get work done with cutting-edge technologies. They can stay true to their social responsibilities by avoiding unnecessary contact with others. The entire world is feeling the weight of COVID-19 bearing down on everyone’s spirits, but even the worst situations have a bright side. Staying positive is key. We will beat this. But, in the meantime, technology is acting as the muscle behind maintaining the remote infrastructure of business. 

Check out these 3 ways tech is helping the real estate industry stand strong against the COVID-19 crisis.

Enhance Market Listings with Virtual Tours

Combining the powers of VR and advanced 3D modeling, virtual tours are spearheading digital property marketing. Pioneering companies like Matterport and Asteroom are helping bring this supreme technology to a larger audience, but some have still been slow to adopt the growing trend of digital tours.

However, we are in times where traditional in-person showings are not recommended. In lieu of the President’s official guidelines, even the NAR is advising real estate professionals to seek alternatives to walkthrough tours

In a situation like this, virtual tours are helping real estate professionals close more deals without unnecessary exposure to others; this helps to keep listing representatives and the new residents safe and secure. 

Property Showings Amid Social Distancing 

For those of us who look beyond virtual touring without endangering the well-being of others, Rently’s patented technology offers the perfect solution. 

Whether it’s in a bustling multifamily building or a quiet neighborhood, Rently’s premier self-touring technology is re-imagining how real estate sales play out. In both the residential and commercial scenes, Rently’s safe, innovative, and advanced self-showing process allows prospective residents to explore a property while respecting social distancing. Active in both residential and commercial markets, Rently has recently partnered up with Pegasus Residential to bring their specialty patented product to a larger audience. The Vice President of Operations at Pegasus Residential, Wendy Dorchester, states when touching on how Rently’s technology is essential in helping propel all areas of real estate forward during the current global pandemic, : 

“(Rently) provided a fast solution to get self-touring activated in our communities after the COVID-19 pandemic took off. We knew we needed to help in any way possible, and through less human interaction, flatten and slow the curve of the virus”, says Dorchester. 

“We wanted to give customers and owners peace of mind about the screening and touring of prospects. The 6-layer screening process was key to selling us on self-touring. We wanted a way to continue closing leads and touring our great apartment homes. Rently is that solution for us.”

Streamline the Deal’s Paperwork 

Even in a time of uncertainty, one thing remains true – real estate deals present many logistical challenges, particularly for touring. Thankfully, there’s a tech tool for that, too. 

Skip out on the signing meetings and opt for a safer solution with online messaging and scheduling technologies. Nearly every aspect of a prospective renters’ touring can be digitized with real estate’s army of dedicated tech providers. 

Rently provides free basic agent scheduling tools with its scheduler platform. For those agents that want to streamline messaging, scheduling and integrate with a Rently self-tour, Knock presents a fantastic end-to-end experience. Knock is a CRM designed specifically to streamline automated marketing and logistics operators face when trying to  attract, convert & retain residents. The list goes on, demonstrating the possibilities of a fully web-powered transaction. The current state of the world won’t go on forever. As always, there’s a light at the end of the tunnel. We’re all in this together, and, fortunately, technology is here for us too. Real estate will move on, but will never forget the lessons learned during this calamity. 

While it’s undoubtedly a tragedy, this pandemic may just be the biggest push towards real estate’s widespread tech integration. The superhero tools assisting the industry during this time of need will become the baselines of business tomorrow. This prepares us all, if need be, to operate at full throttle if ever faced with a similar threat. 

To learn more about Rently’s dedication to the well being of our users, leasing representatives, and house hunters, visit our website. Feel free to get in touch with our team to address any questions, comments, or concerns – we stand with you through it all, tough times included. 

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