Why is Real Estate an Essential Business?admin / 0 Comments /
As the nation, and most of the world, cope with the spread of COVID-19, many have been asked to stay at home, except to perform essential business. As a result, many businesses have been required to close their doors for the time being, deemed “non-essential”. However, a number of industries have been designated “essential businesses”, and, therefore, continue to operate. One of these essential industries is real estate.
Forbes published an article written by Dima Williams. ““Life’s basic needs are food, water and a roof over your head, which makes real estate an essential service,” Florida Realtors, that state’s largest trade association, wrote late last month’, Williams writes. Many aspects of the real estate industry are deemed essential such as settlement services; staff that perform title search, notary and recording services for real estate transactions; leasing of residential properties; property management and maintenance; and construction.
Despite the fact that life seems to be “on hold” for many people and businesses, the fact is that many life changes continue to occur during the pandemic. This includes people needing to find housing due to homes being sold and landlords providing notices. Nevertheless, the method in which these aspects of real estate continue to be executed may have changed a bit. For example, appraisers may complete a “drive by” appraisal, home buyers view homes via virtual tours and when a home is sold, it may be completed via a “drive thru closing”.
Its clear that important work continues to be done by these professionals, helping bring some glimpse of normalcy to the professionals as well as the clients that need them.
Read the entire article.