How are real estate offices dealing with the pandemic around the world? We did a survey to find out. At PropTech Solutions, we serve real estate professionals in over 60 countries with technology solutions to grow their businesses. We connect with clients around the world daily and, as you can imagine, these days we have more discussions about the coronavirus than anything else. The scope of impact that the pandemic is having across the industry seems to be wide-ranging and ever-changing. We wanted to learn more.
In August 2020, we conducted an international survey of brokers and office managers to ask about the impact that the pandemic is having on local business. Our objective was to gain further insight into international trends related to key areas of business, including:
– Their investments in new technology in order to adapt
– The impact on property prices
– The impact on their ability to recruit and retain agents
– The impact on office revenue and expenses this year compared to last
– The impact on domestic and international buyer demand
– How much longer they expect the pandemic to impact their business
We had over 155 responses from brokers and office managers across 35 countries. While some of the findings may have been expected, others may not have been in terms of their magnitude, correlations and variances.
Given our industry’s resiliency, we’re confident that we will all get through this pandemic and emerge stronger—together. In the meantime, we all need to work together to do the best we can in this difficult situation. Below are a few ideas to help you with these very real challenges.
Here are four ways you can help your clients cope:
1. Send positive messages often. Our lead-to-close technology offers the ability to assemble comprehensive marketing communications. While you normally would use these to present homes or promote yourself to new clients, you can also use them to communicate with your clients and prospects on a different level. People in the buying or selling process today may be quite concerned about what all this means long-term. Help them understand that life will go on and properties will continue to be bought and sold.
2. Put together a list of simple things that your clients can do to improve their homes. We all have to maintain some degree of social distancing, which means we likely have more time at home than normal. Cleaning, uncluttering, painting and trying different furniture arrangements are just a few examples of activities that require little or no money and don’t need the help of professionals.
3. Assemble a list of available local professionals. Typical home repair services may be more difficult to arrange or perhaps impossible in some cases. Collect trusted local service providers, such as plumbers, landscapers and electricians, that are still available, and share that information with your network.
4. Turn your marketing technology into a community bulletin board. Real estate agents know hundreds, sometimes thousands of people. Connect people in your network and communicate local information in ways that no one else can. Not only will you help people in this very real time of need, but you will also develop relationships that will last long after the crisis. Visit local Facebook community pages, highlight businesses giving back and celebrate the dedicated professionals working every day to save lives.
The Real Estate Platform (REP) is powered by Phoenix Software, a PropTech Solutions company. REP is an enterprise global technology platform empowering real estate companies around the world to manage and grow their business. From lead to close, REP offers tools to empower every level of your organization, such as lead generating, websites, CRM, listings management, transaction management, teams management, marketing, lead qualification and nurture, reporting, business intelligence, and more. REP is currently used by global real estate brands worldwide, including Keller Williams, EXP, Coldwell Banker, ERA, and others. Request a demo to see how REP can help you grow your business.