There’s no sugar coating the status of the real estate industry right now ever since the recent outbreak of COVID-19. In such a short amount of time the real estate industry went from one being the best the market ever was, to slowing down tremendously.
Although real estate is considered an “essential business” to the government, many states have unfortunately categorized real estate as nonessential. “In either scenario, real estate agents have had to find new ways to do their jobs,” according to Whitney Coy at Realtor.Com.
While this is a hard time for any real estate agent, it’s also a time to get creative and to start thinking ahead. The market may be in a slump right now, but it is expected to bounce back quickly once all of this is over. While you may have a few interested buyers here and there during these unprecedented times, there’s no doubt work environments have changed for many agents. However, this is not the time to stop and take a break for a few months. It’s the time to get creative, jump on new opportunities and start thinking ahead.
So what can you do? We did a bit of research and have come up with a few things every real estate agent should be implementing into their business during the COVID-19 pandemic.
1. Think Ahead
While it may seem like we have a long road ahead, just like any season of life, “this too shall pass”. We’re not saying this is going to be easy, or that it will happen right away, but it will happen. And when it does, you want to be prepared and on top of your game.
We recommend taking the time to do some research on each of your current clients. How can you get through this together? What specific needs do they have? How can you help them achieve their real estate buying goals? Chris Linsell, at The Close says, “Consider using our As Soon As This Passes Plan Template and write these ideas down so they’re easily shareable with your clients.” Then schedule a zoom meeting with your clients to discuss your plan with them moving forward. Linsell says, “Every agent is sending out a “what next” email. But yours are going to be personalized so your clients know you are still working hard for them as individuals, not “clients.”
2. Take Advantage of Social Media
In case you haven’t noticed many people are bored out of their minds right now, and are scrolling social media endlessly. In fact, “Social media users are scrolling their news feed almost twice as much as before the pandemic,” according to Dustin Brohm at Housing Wire. Think of this as a really big opportunity to show your followers that you are still working and keeping them educated. We recommend using this time to really benefit from all of that traffic on social media. You can plan out resourceful interesting posts, stay active on your stories and share other accounts’ content to gain more traction to your pages.
3. Request Reviews
If you’ve been in the industry long enough you should know that great reviews are key. Since your clients most likely have a lot of free time, it wouldn’t hurt to ask for a review. Really, what excuse do they have? Why not give them something to do.
4. Update Your CRM
We find this pretty important to stay up to date with, but now you actually have the time to do it. What some do not realize is how effective a CRM can be when your client’s profile is completely filled out. “A name, phone number, and email address are great, but imagine the sort of personalized, timely communication you could plan for your clients if you had birthdays, anniversaries, closing dates, and social media profiles there?” says Chris Linsell at The Close.
This is a time consuming project. Luckily, you’ve got the time to do it.
5. Keep In Touch With Prospective Clients
Whether you are shooting them an email, text message or quick phone call, make sure they know that you are still working and that you haven’t forgotten about them. While they may not be in the market to buy at the moment, they will be eventually and you will want them to come back to you.
6. Create a Newsletter or Daily Digest Email
A newsletter or daily/weekly email can be a fun little marketing project for you to do during this time. It’s also a great way to keep your clients in the loop and help them stay informed on what’s going on in your world and the real estate industry. Also, it’s a great way to analyze your email marketing campaigns. Now is the time to sit through and see who actually opens your emails when you send marketing information out like this.
7. Listen to Podcasts
We love a good podcast. It not only puts some noise in the background, but also can provide you with fresh new ideas and inspiration. We recommend tuning into one of these while taking a break from your computer, go for a walk, run, bike ride or any other activity you can do while getting some fresh air. Chris Linsell, at The Close hosts a great podcast: Keeping It Real, it’s a good one and is very highly recommended for any real estate agent.
8. Write a Few Blog Posts
While you have the time, now is a good time to catch up on your writing. We recommend writing a few blog posts now, and also for the future. When things get back to normal the last thing you are going to have time to do is write a blog post. Get ahead of yourself now, so you have great, resourceful content in the future!
9. Get Organized
Through the hustle and bustle of the real estate world, life can get really crazy. Which means, being organized is just out of the question. Your desk can get cluttered, files can build on your computer, your inbox is a disaster, we could go on forever. During this time, take at least an hour a week to get organized whether that be on your desk or within the files on your computer. You’ll feel much more accomplished and productive after doing so.
10. Stay Positive
Lastly, try and stay positive throughout these unprecedented times. It’s easy to feel unmotivated and unsure about things, but just remember there is always a light at the end of the tunnel. It’s important to remember, your clients still need you as their agent and as a resource on what they should be doing moving forward.
So tell us, what are you doing to keep busy?