The firm added that the property market is also on the brink of a crisis, unless it embraces change.
Due to the government’s guidelines on self-isolation, the property portal believes that many bricks and mortar high street agents could suffer significant losses.
In order to avoid increased losses, Residential People believes that agents should embrace technology.
It outlines video conferencing and virtual tours in order to give interested parties a more detailed look at a home as opposed to static imagery, as an alternative approach.
Lucy Pendleton, Co-Founder and Director of James Pendleton said that the impact of the virus has already begun to have very real implications for the property market.
“Coronavirus impacted our business for the first time a few days ago, stealing away a sale that was just days from exchanging.”
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