The real estate industry, for all its newfound tech savvy, still relies on handshakes across mahogany tables. The coronavirus pandemic has exposed that weakness: Real estate is a cheek-by-jowl business, methodical by design, lumbering until the final, crowded contract signing. And practically overnight, it has been forced to rethink the entire model. New York State’s stay-at-home order, and similar restrictions elsewhere, have complicated every part of the months long home-buying process, for buyers and sellers but also the movers, appraisers, back-office workers and lawyers who handle the physical stacks of paperwork still required by law to close a deal.
Read more via NY Times here.