Throughout the spring selling season, the real estate industry was plagued by panic, fear, hesitation and fear. Now that markets have stabilized, it is time for the summer selling.
1. Technology is here to stay
Real estate has struggled for years to adopt the technology. If there is one thing the pandemic has had on all industries, it’s the acceleration in technology adoption.
Post-pandemic, technology will continue to be a driving force in the real estate sector. The market was already being accessed digitally by consumers, who rely on agents to facilitate transactions. Agents who have struggled to adapt (and adopt) technology can now be an integral part of the consumer experience.
Agents are responsible for making digital transactions faster than their competitors and finding new ways to add value to clients.
2. The consumer of today is not the same as yesterday, but it is different
For decades, consumer behaviour has changed. Although many agents believed that real estate was a belly-totally industry before the pandemic, this is no longer true.
Consumers preferred digital experiences before the pandemic. They can search for homes online and do their research. We believe that agents who are slow to adjust to changing consumer expectations will be able to do a better job today.
Contact, text, and email new leads. Let them have the opportunity to interact on their terms. Offer them options and let your supporters know that you are there for them. It is important to not put pressure on them. It’s about giving them choices and openings to explore.
3. You lose when you make it all about you
Do not let your insecurity ruin a deal. Give resources and value.
Although you cannot force someone to enter the market, you can give them the information and resources to help them make informed decisions. Even if they don’t work with you, they will remember you as someone who provided value. This applies regardless of whether they have a new situation or meet someone looking to sell or buy. You can reap the benefits of what you sow now for many years.
4. Let the numbers tell you the story
What’s driving the market? What drives your market? People care about how these things affect them. It’s not all about the market; it’s about THEIR marketplace.
Be a local economist and get market data that relates to you. Are you a buyer’s agent? What do the statistics in your area say about mortgage rates and new listings? Are you a real estate agent in Delray beach? What data does it reveal about buyer activity? How are record-low mortgage rates creating increased demand?
You can use data to tell your market’s story as it relates to your audience. Make the numbers understandable and easy to comprehend. You must understand the data before you can share it. Take the time to get comfortable with it.
5. The new world is focusing on rural areas
One of the most significant effects of the pandemic in the country was that people didn’t want to live in densely populated areas.
People with compromised immune systems and underlying health issues are moving entirely. Many people in urban areas now live far away and can work or live anywhere they like. People with options will take advantage of them.