There is no doubt that the pandemic continues to affect our way of living. We can also be sure that after the economy reopens, we won’t be as eager to meet with a customer in a face-to-face scenario and we can forget about handshakes and other friendly greetings.
So, how will the real estate industry manage to survive?
After all, a real estate agent’s job is to be the liaison between sellers and buyers. This is a job that has required some form of physical contact, from organizing open house presentations to negotiating and signing the contract.
As it turns out, there are two ways to look at the current situation: as the end of the real estate industry as we know it, or as the chance to improve your technique and get creative. Your choice here, will influence your future in real estate. Check out these remote working tips for real estate agents for help.
If you decided to stay strong and press on, first of all, good for you! It’s people like you who take a difficult situation and turn it into an opportunity to make things better. We’re improving and creating, too! In this spirit, we analyzed the market and identified the top three trends that can keep your business going.
Virtual House Tours
Real estate agents are no strangers to 360-degrees pictures or virtual house tours! Nowadays we have even more apps that can be used by homeowners to create a 3D tour of their house with their phone.
People are more than happy to use such an app. In fact, one of the most popular apps reported an unprecedented spike in the number of users in March and April. The same app reported that people who are interested in buying prefer listings that offer a 3D tour. This way, they can select only the properties that are truly interesting and save the time they would have spent visiting multiple properties.
Of course, with the proper technology, real estate agents can do a lot more than a 3D tour. For instance, a drone with a powerful camera is the perfect tool to take an aerial view of the property or even conduct a virtual tour of the house. Also, some realtors got very creative and organized open house meetings using videoconferencing software (such as Zoom or Google Hangouts).
People Want Out of the Cities
There are a few naysayers who predicted a crash of the housing market when the pandemic was just in its incipient stages. However, after almost a month of lockdown and restrictions, there are no signs of weakness.
People continue buying and selling and the market is quickly embracing the new technologies. Also, the trends point strongly to properties just outside the city. And, the pandemic turned out to be a kick in the right direction for many apartment dwellers who were not sure if they wanted to take the step.
Online Listings & International Customers
Many realtors were already using online platforms to promote their listings, to some extent. Of course, the current socio-economic scenario changed this approach and now more than ever, the housing industry is mostly online.
What’s more important, specialists expect it to stay that way even after the lockdown is lifted. Buyers find it easier to do a Google search when they start looking and realtors can use a wide array of channels to reach a larger audience.
For instance, we see an increase in international buyers - people who want to own property in a different country. The promotion of properties in a global scale is possible through listing hubs like ListGlobally, a trustworthy online platform that connects clients and agents in over 60 countries.
Wrap Up
According to a recent Gallup report, the housing market is not as strong as it was last year, but it didn’t crash. Many buyers are waiting for the lockdown to end and the economy to bounce back in order to make a move.
As such, while the market may be stagnant, it’s also a fantastic opportunity to do more Follow Up; identify new niches and expand your business to an international audience. While the real estate industry recovers and rebounds, you can get a jump on listing your properties and securing your leads. You’ll be ready for the ‘new’ face of international real estate in the weeks to come.
About the Author
Dave Lawrence is Head of Marketing at GrowthHouse by Follow Up Boss. Dave spends his days ‘under the hood’ of some of the top real estate teams in the world, helping them achieve their outlier sales results through a focus on simplifying their processes and tools.
ListGlobally operates the largest global network of property portals in the world, advertising across +100 property portals in over 60 countries, reaching a monthly consumer audience of over 200 Million potential buyers.
If you’re a Real Estate Professional or property seller and you’d like to expand your international network, to advertise, or to engage with international property buyers contact us at ListGlobally to learn more.
