Real estate activity has picked up across the country. The predicted pent-up demand is being unleashed and creating what appears to be a spring-summer super season. Summer is passing, but the typical “summer season” activity is still heating up, and for those not experiencing it yet, it’s on the way. As Lawrence Yun, the National Association of REALTORS’Â® chief economist explained, “Look for the peak of the housing market’s annual cycle to be delayed, not canceled.”
We’re in constant communication with our clients, and they are busy. With the pandemic still gripping our world, and spikes threatening many states, we’re not dealing with “business as usual.” There is still volatility, and new challenges and regulations to adapt to and work around, in addition to the pressing demands of clients and transactions. Time and focus are scarce.
But transactions are not going to slow, and you need to be positioned to help your prospects and seize opportunities. Yes, inventory is low, but movement is inevitable. Some are looking to relocate to suburban areas, some need that playroom/home office/additional square footage, and some are simply desperate for a change of scenery.
The data is there, too. Chip Collins, owner and broker-in-charge of Collins Group Realty, generated 1,100 leads in May aloneâ€”twice the number as May of last year. Every market is unique, but trends across the board show surges in search activity and average session times, clear indicators of prospects getting serious about transacting.
On average, our visitor traffic is up 15 percent compared to the same week in 2019, with form submissions up 15 percent from January. Prospects generated from these submissions, directly requesting a virtual showing or inquiring about a property, increased 40 percent from May to January, and 50 percent in June.
Opportunity is still building, but you have to get out of the overwhelm to capture itâ€”and, most importantly, convert it. Lean into tools that keep you agile and adapting. Take busywork off your plate and focus on what moves you forward.
Virtual tools and teams are critical to ensure you can confidently service clients and protect lead generation investments. Leverage them to build certainty into your systems and prioritize time. Virtual tours, virtual open houses and video chatting will only become more necessary for success as we navigate this environment and cater to varying restrictions and comfort levels.
Virtual teams can handle your lead response and nurturing and alleviate time-consuming qualifying. They let teams focus on action-ready prospects and deliver peace of mind.
Many clients leverage our lead concierge service, Success Assurance, to do just that. Even those using an ISA model have seen incredible results. Doug Gieck, VP of Production at 8z Real Estate, explained that in the crush of to-dos, this is something he’s offloaded.
“It took a lot of trust, but the results have been monumental. Not only did conversion rates double, but I don’t have to worry that things are slipping through the cracks.”
Many things are out of our control right now, but there are solutions to bring control and confidence into your business and help you scale to meet demand without sacrificing service or sanity.
Grier Allen is CEO of BoomTown. For more information, please visit boomtownroi.com.