Residential real estate agents could be hard hit during coronavirus outbreak

One industry that could be hit hard as a result of the coronavirus is the real estate industry.

News 12 Staff

Mar 23, 2020, 6:32 PM

Updated 1,526 days ago

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One industry that could be hit hard as a result of the coronavirus is the real estate industry. 
Real estate agents have been sidelined since Gov. Andrew Cuomo mandated that all non-essential businesses close.  That means no house showings or open houses until further notice. 
It all comes at the beginning of the spring, which experts say is the hottest season for the real estate business. 
News 12 caught up with broker Doug Pollak over FaceTime from his home office.
"It's such uncharted territory. We don't know what to think like," he says.
Pollak says not being able to show homes is making brokers think outside the box.
"We're seeing more interest on virtual tours using Zoom or YouTube. That's the only way to conduct showings," he says.
While these are uncertain times for residential real estate, commercial brokers say it's a great time for business because many investors will be looking to buy up property as soon as it comes to the market. 
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