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How The Post-COVID World Will Change Real Estate

        

An interesting new study came out from Zillow recently that talked about what people's attitudes are related to working from home versus working in an office after COVID ends.

What's interesting is that 95% of the American population would prefer to work partly at home and partly at the office after COVID ends.

So big, big differences in how people want to work going forward. But even deeper than that — 36% of the population now prefers to work at home. So basically one third of Americans say they don't want to go back to an office after COVID ends. They just stay working remotely.

What does that mean for housing and real estate? Well, a couple of things:

It means that our trend, which has been trending towards smaller houses for a long time pre-COVID has reversed. Now we're trending towards larger homes where people can work from home, go to school from home, and really have multi-generational families in some cases where people are staying in their homes longer.

So we're seeing bigger homes in general.

And then the second thing with this is that people are much more able to shift where they're living. So we're seeing this urban flight trend continue.

Maybe not to the degree it was. But still, a third of Americans saying that they'd prefer to work remotely is going to start pushing people out to suburbs and what's called "Zoom Towns" or "Zoom States" where people are able to work remotely more effectively. And they prefer it.

So what does this mean for you? A couple of things:

You want to really be communicating to your clients that you are a "Relocation Specialist."

You're able to help them find a home that meets their needs — whether that's for housing school, working remotely, or whatever that looks like for them, you're here to help.

You're also here to help them relocate. So if they've got their eye on another state, tell them you can help them sell their home here so they can move on to the next state where they want to live. Because a lot of people are looking at making a change.

Another study from USA Today says that one third of Americans are planning on making a move after COVID ends. Well, guess what? COVID is coming to an end.

So it is all interesting news. All things you should be looking at as you start to anticipate what's next in the marketplace as COVID starts to wind down.

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