How to Sustain Your Real Estate Business Amid the Pandemic
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by Nina Tambal
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Jul 08, 2020
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General
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The COVID-19 pandemic is certainly a crisis that the entire world did not expect.
What once was minor news item back in December 2019 rapidly became an epidemic that took over various nations globally by March 2020.
Approximately three months later, we were able to witness different organizations and companies across industries struggle with the effects of the quarantine and physical distancing measures.
But if you truly want to keep your business running, in the realm of real estate in particular, there is one thing that serves as a reminder: pivot.
Pivot like every other real estate entity that is greatly impacted by the global health crisis.
If you don’t know how to start, don’t fret. Here are three important tips on how to sustain your real estate business amid the pandemic.
1. Be digitally prepared and adept
Digital is the norm.
While transitioning to digital is certainly going to be a challenge for countries like the Philippines, it is imperative to understand and adapt to it.
When the quarantine happened, many real estate business decided to beef up their virtual tours or open houses.
Virtual tours are not something new, however, not every business provides them. That already gives you a competitive advantage.
Since people are encouraged to stay at home, it would be difficult to have potential clients or customers look at the property in person.
A virtual tour allows a private showing experience without the buyer leaving the safety of their house.
You may commission a professional photographer or videographer to make your envisioned virtual tour happen as long as social distancing guidelines are followed.
2. Stay active and engaging
Nurture relationships, whether it’s with your existing or potential clients. Social distancing is still being practiced, but that does not apply to social media.
Coming from the previous tip, you can utilize technology and the virtual space to build and strengthen customer relationships.
Keep your accounts across all social media active and engaged. Reach out to your audience and maintain your reputation as a trusted realtor or real estate company.
Besides interacting with your existing and potential buyers online, you can also venture into starting a blog. If you already have a blog up and running, try posting more relevant and helpful content.
That way, your presence is still known and you’re able to cover important topics with your clients.
3. Upgrade your listings
This tip may be overlooked by some, but it is just as vital as the others.
Even if it seems like the world is on a standstill because of the pandemic, there are still potential buyers out there. And it’s easier for them to access your listings if they’re online.
Showings are currently not advisable, which sparks an opportunity to maximize the virtual space.
Update the information about your property’s features. Give customers a better idea or a clearer picture of what you can offer compared to your competitors.
It would also be invaluable to attach photos of areas that clients usually see during a showing such as views from the window, closet spaces etc.
Top it all off with well-written copy and captions and you’re good to go.
Final thoughts
When it all comes down to it, we are all in this together. No matter what industry you’re in, the great impact of the pandemic is a reality that we have to deal with.
Pivoting your business for the better, especially for any future crises, will be beneficial.
But above everything else, showing compassion goes a long way. Showing compassion to your clients, showing compassion to your employees, showing compassion to your community.
So, pay it forward and provide a helping hand to whoever needs it to ensure and expand your success.
Better and bigger things await.
What once was minor news item back in December 2019 rapidly became an epidemic that took over various nations globally by March 2020.
Approximately three months later, we were able to witness different organizations and companies across industries struggle with the effects of the quarantine and physical distancing measures.
But if you truly want to keep your business running, in the realm of real estate in particular, there is one thing that serves as a reminder: pivot.
Pivot like every other real estate entity that is greatly impacted by the global health crisis.
If you don’t know how to start, don’t fret. Here are three important tips on how to sustain your real estate business amid the pandemic.
1. Be digitally prepared and adept
Digital is the norm.
While transitioning to digital is certainly going to be a challenge for countries like the Philippines, it is imperative to understand and adapt to it.
When the quarantine happened, many real estate business decided to beef up their virtual tours or open houses.
Virtual tours are not something new, however, not every business provides them. That already gives you a competitive advantage.
Since people are encouraged to stay at home, it would be difficult to have potential clients or customers look at the property in person.
A virtual tour allows a private showing experience without the buyer leaving the safety of their house.
You may commission a professional photographer or videographer to make your envisioned virtual tour happen as long as social distancing guidelines are followed.
2. Stay active and engaging
Nurture relationships, whether it’s with your existing or potential clients. Social distancing is still being practiced, but that does not apply to social media.
Coming from the previous tip, you can utilize technology and the virtual space to build and strengthen customer relationships.
Keep your accounts across all social media active and engaged. Reach out to your audience and maintain your reputation as a trusted realtor or real estate company.
Besides interacting with your existing and potential buyers online, you can also venture into starting a blog. If you already have a blog up and running, try posting more relevant and helpful content.
That way, your presence is still known and you’re able to cover important topics with your clients.
3. Upgrade your listings
This tip may be overlooked by some, but it is just as vital as the others.
Even if it seems like the world is on a standstill because of the pandemic, there are still potential buyers out there. And it’s easier for them to access your listings if they’re online.
Showings are currently not advisable, which sparks an opportunity to maximize the virtual space.
Update the information about your property’s features. Give customers a better idea or a clearer picture of what you can offer compared to your competitors.
It would also be invaluable to attach photos of areas that clients usually see during a showing such as views from the window, closet spaces etc.
Top it all off with well-written copy and captions and you’re good to go.
Final thoughts
When it all comes down to it, we are all in this together. No matter what industry you’re in, the great impact of the pandemic is a reality that we have to deal with.
Pivoting your business for the better, especially for any future crises, will be beneficial.
But above everything else, showing compassion goes a long way. Showing compassion to your clients, showing compassion to your employees, showing compassion to your community.
So, pay it forward and provide a helping hand to whoever needs it to ensure and expand your success.
Better and bigger things await.
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