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The COVID-19 pandemic has turned the world upside-down, causing countless tragedies and a major economic recession. As we begin to look into the future of the economy, one industry continues to thrive—real estate.

The real estate market that was flourishing at the beginning of 2020 has of course taken a hit, as less sellers decided to list homes, opting instead to stay rooted and ride out the pandemic. Many others were concerned about the collapsing market and a potential mortgage crisis, like the 2008 housing crisis.

But that real estate market collapse never came, and as the economy begins to flutter its eyes open again, local real estate agents note that now can actually be a great time to buy or sell.

Robb Cohen of Engel & Völkers saw an initial downturn in the market during the first six weeks of the pandemic. But after that first hump, they’ve started to see much more interest in the market by both buyers and sellers.

Engel & Völkers has also been implementing tons of safety measures for their clients. “We’ve done showings remotely by video tour if requested. When an in-person tour was requested, we only allowed two people plus the agent in the property at a time,” said Cohen. “We provided new gloves, masks, and booties to clients to make sure we weren’t using contaminated PPE. We have all documents signed remotely with electronic signatures.”

They’ve also set up 3D Matterport tours for all their properties, turning the property imagery into immersive, 3D experiences. Cohen also noted that since they’ve been conducting more efficient meetings through Zoom and Google Chats, they’ve been left with more time to attend webinars and consult as a team to get a global perspective.

“In many ways the COVID-19 pandemic has highlighted what we do best,” said LandVest’s Maya Elisayeff. “Analyzing the market and providing the advice needed to maximize results.”

LandVest has also done as many virtual tours and electronic signatures as possible. “Anything that can help our clients, and everyone, stay safe and move the process along,” said Lanse Robb.

Nest Real Estate’s Syndi Zaiger emphasized the importance of helping her clients and her community now more than ever. She’s reached out to clients to see what they need to get through this tough time, whether or not it’s real estate related. “We have this thing, I constantly say, that if you help people all day long, the money’ll come,” said Zaiger. “Our goal is to help people.”

Cohen noted that real estate is an essential business and expects the current resurgence to continue. 

“It’s a great time to be a seller as there are less homes currently for sale at this snapshot in time and prices remain stable or rising,” said Cohen. “It’s also a remarkable time to be a buyer as the ability to finance a home has never been better.”

“I think many of us have learned the importance of loving where we live,” said LandVest’s Elisayeff. “This may not be the last reason to quarantine, so love your home, and make sure you’re good with staring at the same walls for months on end. If not, give us a call!”