In a matter of a few months, the lives of everyone on the planet have been impacted. The coronavirus pandemic has left a trail of destruction in its wake. This comes in the form of not only a public health crisis but an economic one as well. While all industries have felt the sting of this virus, the real estate market has been hit exceptionally hard. There are a number of ways that the market has been impacted and leading industry expert, Shane Roybal, is here to discuss some of the impacts.

Shane Roybal Discusses The Immediate Challenge Facing the Real Estate Industry

The real estate industry was already facing a number of challenges given the unprecedented circumstances the entire world is experiencing. In many ways, the coronavirus pandemic has simply accelerated this shift. Real estate professionals, including Shane Roybal, are looking at the health risks and how they play a role in the real estate industry. There are some realtors who are struggling to mitigate some of the health risks that have been posed to their employees and customers. Furthermore, some real estate developers are unable to obtain permits. They face construction delays, stoppages, and falling rates of return as their supply chains and timelines get disrupted. In the meantime, many asset owners and operators are dealing with reduced resources when it comes to their operations. Many landlords are struggling, wondering if their tenants are going to be able to make their rent payments, as this impacts their mortgages. Shane Roybal has also noticed some behavioral changes that are impacting the market.

Shane Roybal Discusses Behavioral Changes Taking Place in the Market

Due to the pandemic, there are also a number of major behavioral changes that are taking place. Shane Roybal has noticed that one of the biggest shifts involves how people are shopping for commercial and residential properties. In the past, it was almost unheard of for someone to purchase property without visiting it in person. While most people would still prefer to do this, the pandemic has made this nearly impossible. As a result, there are shifts in how people are evaluating potential purchases. Virtual tours, drones, and advanced real estate software is playing a role. Real estate agents who are looking to survive in this era need to adapt to meet the changing expectations of potential buyers and sellers.

Shane Roybal Discusses the Future of Real Estate

The pandemic is going to be with us until we have a vaccine. Shane Roybal is one of the leading industry experts, helping buyers, sellers, and industry professionals navigate the challenges of real estate in this environment. It will be interesting to see what happens next.