Pandemic Revelations: Where to Next?
The last 18 months have taught us all so much about ourselves, about what is important, and about what changes maybe in order personally. As real estate professionals, we are witnessing that first-hand. We are meeting people with new places to be, many of whom are shedding old systems and beliefs when it comes to housing and lifestyle. Everything we didn’t expect happened, we are hearing things from clients that we have never heard before, and our roles are shifting, too.
The phenomenon is not relegated to the real estate industry by any means. But after many, many years as a Realtor, this job seems new in many ways, which keeps it interesting!
We witnessed much sadness, of course – death, divorce, mental health challenges, fear. So, patience, empathy and understanding have become more critical for more clients.
We are also seeing people yearn for more space. Freedom from the office opens up lots of possibilities! This has shifted some new home searches from city to country. A shortage of contractors and supplies has more people focused on properties that do not need much work.
People want to be close to family. Family members are moving to be closer to one another. Some are moving elderly parents to ensure they can be cared for more easily; others are keeping older children home. And now that travel is permitted across the country, people are using the summer months to travel and connect.
In so many cases, a move is a result of shifting priorities this year, and that’s the most interesting thing to watch. Everyone has their own idea of what is important now and those ideas seem more clear than ever. We are finding many clients more certain of what they want and need. On the flip side, first time buyers are less confident and more wary jumping into the market. Even in our own industry, agents are working differently and many have made changes.
The investment property community has flipped on its head. So many investors have decided to sell, pushing tenants to find new places or buy themselves, sometimes under duress. While other investors who wanted to add to their portfolios are feeling the heat of higher prices and numbers that just don’t make sense.
What the Future Holds
What will the next months and years bring for us? It’s unknown. But for these last months, it has for sure been a wild, interesting ride.