Covid-19 Pandemic is Transforming the Real estate industry in Kenya.

In every Pandemic, there is always a hidden opportunity from any pandemic since the times of Black Death, Spanish Flu etc. The current Covid-19 crisis is not an exception. The pandemic will permanently change the way business operations are conducted. The Silver lining in this dark cloud is that new habits are coming into play changing some of our behaviors and culture for the better.

Covid-19 will certainly change what we are used to as BAU as well as how we socialize with others. The pandemic will surely bring new thinking, new Innovations also creative new ways of doing things.

Real Estate

So, the Big question is on how will this affect Land business in Kenya.

How will the real estate be altered?

Real Estate

So, the Big question is on how will this affect Land business in Kenya.

Technology

The lions share of this change will be taken by the technological changes; in our research we have found out the following areas to be affected most by the shift in technological application.

Convectional Real Estate vs. Technological Change

Conventionally the Dealers have been arranging on how to take the customers to the sites using chattered tour buses, taxis or even their business client relocation vans in order to view property. This has been a daily engagement.

With the new laws coming into force vide the Kenya Gazette, restricting how many people can be in any mode of vehicle transport. Most Customers will have to do self-drive to view property.

This will be supplemented by location apps like Google maps and pins.

Advertising and Marketing:

Historically print media has been in use to make brochures, calendars, business cards etc.

But now the pandemic will set the ball rolling towards content marketing in the digital media and platforms.

With new tools like Websites, SEOs, facebook, Instagram, twitter  there will be less printing and therefore better savings, saving trees for a greener world.

Other Tools for Customer Service that will prove useful are ; HubSpot, Olark, Property Base, and many more.

Physical Working Spaces Vs Virtual/Remote working.

All along an office has been a show of authenticity that a business is real and not a “brief case company”. But we have seen that remote working is real and results can be delivered from home In the new times we will see more of business conducting meetings via interactive technology like Zoom, Google Meet, Go Meeting, Skype for Business, Cisco WebEx, BlueJeans, Slack as well as many others.

For most of the work that doesn’t require physical presence, this can be done remotely and securely through application of tools like Team Viewer, Any Desk, DWService, TigerVNC and many more.

Physical Visits Vs Virtual visits;

The   presidential order banning movement in and out of Nairobi,. Most land sellers will have to apply 3D Imagery in Google Earth to enable buyers to have a preview of the property especially for  those outside the demarcated zone.

This is likely to last post Covid 19 period, where the window shoppers of properties, they will view the property using the Google Maps Technology.

Physical Signing Vs Digital Signature

Physical Signing of documents will not be such an appealing task in this period, While the Virus is said that it can be transmitted via documents. More and more people will prefer to transmit the documents electronically  and more so, to  sign the  documents with digital signatures. The software that are likely to come in play are; Adobe PDF, SigniX, Digisigner.

Cash Payment Vs Online Payment

When it comes to cash handling, digital has been gaining traction as compared to handling liquid cash, In Kenya, Mpesa has taken the lead, Mpesa has been Kenya’s flagship innovation and in this period they have instituted some lovely terms that are encouraging non cash usage.

The banks and the pesalink, by the Kenya Bankers Association, all these will bring the safe cashless habit to the people.

This will also affect the usage of cheques as a mode of payment in the future.

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