Stay Active in the Real Estate Market during COVID-19Realtors can keep working by adjusting how they do business during the COVID-19 Pandemic. Richard Uzelac of RealtyTech Inc. has compiled a list of ten changes real estate agents and agencies need to make right now to stay active in the real estate market during this unprecedented time. With face-to-face meetings limited, or at times forbidden by authorities, pivoting to the ‘Virtual’ world in many interactions and communications are essential for Realtors, Real Estate Companies. Beyond Virtual technologies, employing tried and true communications and empathy skills will help us all get through this.
“Here are 10 simple tactics to get through the COVID-19 crisis.”– Richard Uzelac, CEO of RealtyTech Inc.
1 Website:First things first. Clean up your website to reflect the current situation. Update your website to show you are working through the Pandemic and you are there to help them. You will still be marketing their properties. You are still able to find them their dream home. State what you are doing to mitigate issues with Buyers and Sellers during this time. Post a simple video on your website describing some of the aspects of this blog that you will be incorporating during this time.
2 Prospect all Contacts:Contact Old Buyers, Sellers, and Prospects and let them know you are still working. Sign them up for Listing Alerts from your website so that they can track the live market themselves through the Pandemic. Build focused neighborhood listing pages they will be interested in seeing quickly. Keep in contact with them through calls, emails, listing alerts and Self-made phone videos.
3 Market to Your Farm:Let them know you are still active. Tell them what’s happening in their neighborhood. Again, keep in contact with them through calls, emails, listing alerts from your website and IDX and Self-made phone videos.
4 Show the Property Virtually First:Introduce the properties online first. Offer more interaction during this phase of the process. Try to develop a great interest in one to three homes you wish to show to a prospect. Tell them due to the situation, you want them to see a home online that the are really excited about and seriously interested in buying BEFORE you show these ‘Pre-Approved’ properties. To help move this forward it is suggested you use some of the following tools to present the properties if possible:
5 Utilize the Current Virtual Technologies:Utilize the Current Virtual Technologies for introducing Prospects to their Dream homes. These technologies get Buyers to ‘see’ the property better without actually stepping through the threshold of the home:
- IDX Property pages on your website with Images, Maps, Descriptions
- Virtual Tours
- Virtual Reality
- 3D interactive Property scans
- Agent or Owner created videos of walk-throughs of a property.
“Viewers are shown to be 400% more engaged with a 3D virtual tour of homes than they are with 2D imagery. 75% of real estate agents say that 3D virtual tour of homes helps them win more listings. ”
6 Open Houses Broadcast Live:
Google Meetings, YouTube Live, Facebook Live, Zoom. Plan your open house and set a date and time the Open house will be shown. Be available to answer questions of the viewers and walk around showing them the home and answer any questions they have by showing the home while you do it. Setup private calls with interested parties to discuss offers.
7 Set Your Physical and Interaction Boundaries for Property Showings or Listing Appointments:
You and your prospects and clients have different levels of tolerance for face-to-face interactions. Make sure all parties are aware of your restrictions and get buy-in from them before you interact.
- First, establish your boundaries:
- Follow the distancing guidelines required by law and by your Broker as a minimum.
- Are you willing to interact with Clients at a minimum distance of six feet?
- Or do you only want to interact virtually by phone or video chat?
- Are you willing to follow a Buyer through a property at six feet, or will you [with Seller’s permission] allow them to walk through the property unattended?
- Let them know you will be taking separate cars to the properties and then how the showing will be done.
- You should also always wear an N95 mask and gloves during the walkthrough, for the Buyers, Sellers and YOUR safety and peace of mind.
8 Showing Only ‘Pre-Approved Properties’:
- Get strong signs of interest in a property from Prospects before you show it to them.
- Driving in separate cars, maintain distance from prospects during a showing.
- Wearing Gloves and a mask.
- Providing gloves and a mask for prospects should they request one.
- Putting offers online for approvals from the Buyers and Sellers
- Maybe creating offers with an addendum that makes the offer contingent upon an initial physical walkthrough, if they, or you, are not comfortable in the show the home in person at the time of the offer.
9 Virtual Escrow:
Work with an Escrow company that can process all the ‘paperwork’ virtually online and by electronic documents without any party needing to go to an Escrow office or anywhere. Each party reviews and signs documents in their own location.
10 Virtual Mortgage:
Work with a Mortgage Company that can process all the ‘paperwork’ virtually online and by electronic documents.
As with any real estate or human transaction for that matter, having the other party like you and trust you, will make to process much smoother and agreeable. Work with Buyers and Sellers on transactions in this COVID-19 real estate market with the goal of making them as comfortable as possible with your knowledge of real estate, of the COVID-19 safety precautions, and of your expertise in closing deals in these stressful times.
Keep the faith, stay safe, and remember, this too shall pass.
Richard Uzelac’s RealtyTech Inc was created in 2002. Since that time RealtyTech has helped thousands of Agents and Offices to build strong brands and online presence to enhance their real estate businesses. RealtyTech specializes is Websites, IDX, and Internet Marketing and Advertising for the Real Estate Industry. Contact Richard Uzelac directly at RealtyTech Inc. at 805-413-7888 for more information.
About Richard Uzelac:
Richard Uzelac has been in the real estate business for over thirty years. He started as an agent in New Jersey then office owner in California to a real estate technology leader. Richard Uzelac was the Senior Director of Realtor.com before starting RealtyTech Inc. in 2002. Richard has given thousands of presentations and talks on real estate technology. Richard Uzelac is available as a Speaker and Consultant for Franchises, Offices, and Agents. Contact Richard Uzelac at 805.413.7888