There’s no denying that the current Coronavirus pandemic has affected everyone and everything around the world, with most of the global populations spending more time at home to curb the spread of the dreaded virus.
The slowdown in activity has affected economies worldwide and people are prompted to go back to the basics.
This has also affected the real estate industry, where it has experienced a slump in market activity, stalled listings, and more. However, it did bring out some surprising developments, such as the sudden increase in online search activities.
Consumer behaviours are shifting differently as homebuyers continue to scout the internet for property options, they are not just doing it for the simple process of discovery, rather they are leveraging on the capabilities of technology to streamline the homebuying journey process such as instant communication, remote or virtual property inspections, community lifestyle and vicinity research, and close deals- all done in the comfort of their own homes.
The role of technology in real estate
Thanks to technology, people can use online platforms and channels to get their desired information and shop for goods and services online. This is also the ideal time for businesses, including real estate agents, to boost their online presence if they need to tap into this new market structure.
Having an online presence makes you accessible and relevant in the new normal and can propel you further beyond. It may feel a bit overwhelming at first, what with all the technical factors and changes from the usual processes, still it does give businesses as a means to stay relevant in the changing market environment.
Set your goals and develop your strategies
Re-assess your business goals and start aligning your strategies to understand how you could interact with your audience. You must understand and know how to navigate these tools to your advantage.
Build an online presence
If your real estate business relies on a traditional meet and greets methods in dealing with your clients, now is the best time to weigh in your capabilities into one that will adapt to the new market forces by establishing your online presence.
If you already have a website, try to review and evaluate your content. Are your listings up to date? Is your page linked to your social media pages? Is your interface easily navigable and enticing?
It is important to make your website reflect your brand, show that you have a solution to their problems and that you have an intention to help them. This will help build their confidence and create more positive results for your real estate business.
For instance, you can use multimedia software and apps to develop compelling content and virtual property tours, as these can improve your SEO capabilities to drive more traffic to your real estate website.
If you have money to spend on advertising, you can boost your online advertising campaigns to make your presence felt online. Communicate in a way that you provide them with the means to present your listings without them having to be physically present and make it convenient for them to inspect a property online.
Review your calls to action (CTA) and see if it is relevant such as “Click Now To Inspect” or “Register For A Live Stream Experience.” You can also see if your agent profile is updated.
Never give up and stay strong
Rest assured that the real estate industry is doing its innovative and creative best to ensure that the industry will continue to thrive in the face of this global pandemic.
Technology companies and providers are racing to offer solutions to support the real estate stakeholders to stay afloat and abreast of the latest trends in the market.
As a real estate agent, you are empowered to adapt to these changes and ensure that you take advantage of these new technologies to continue serving your clients and help you succeed no matter what.