Real estate agents, like many professionals, are feeling the effect of COVID-19 in their own unique way. Real estate is a business of in-person interactions, and social distancing drives a wedge into the routine face-to-face nature of transactions. It makes clients wary about buying and selling. This has a big impact on agents, who rely on commission checks – not a steady salary.
But there are coronavirus resources for real estate agents who need help navigating the uncertainties of this moment, and we’ve highlighted some important articles that we hope will offer clarity and tangible advice. Here are our big takeaways:
- Virtual tours are incredibly valuable tools for showing homes
- Don’t stop investing in digital marketing – in fact, you should invest more
- Be honest with clients and offer tangible advice
- Prepare for a demand surge by optimizing your pipeline and tools right now
- Take care to follow proper precautions if you supervise an office
Forbes: “When A Recession Comes, Don’t Stop Advertising”
Agents can benefit a lot from this powerful piece, which details the silver linings of times like these: lower advertising costs and more opportunity to claim market share.
Inman: “How to stay ahead of coronavirus market fluctuations”
Calculate two valuations when doing comps, follow your MLS data closely, and start preparing now for the post-market surge of activity.
MNI: “How Advertising During a Recession Can Preserve Your Brand”
“The worst thing you can do from a marketing perspective is go dark.” Maintain and even increase your marketing spends while closely monitoring data and ROI.
Inman: “How to keep your business running when you can’t meet face to face”
We discuss Homesnap Stories, a free Homesnap Pro feature that allows agents to add a virtual tour to any listing as a substitute for an open house.
RISMedia: “How to Showcase Your Property With a Virtual Open House”
Tips and tricks for creating the best virtual tour possible, including the best tools to use and how to promote it online.
Inman: “Homesnap’s latest update is the prospecting tool agents need right now”
Inman explains Homesnap Pro’s newest prospecting tools and why “Leaning into lead generation and providing accurate information to clients digitally is especially important now that we’re practicing social distancing”
Business Insider: “The coronavirus pandemic is pushing real estate agents around the country to show homes over video chat”
Agents and brokers find creative ways to show homes, from livestreaming open houses to using video chat apps for showings.
Writing Real Estate: “How to Talk to Your Clients and Sphere About COVID-19”
Christy Murdock Edgar shares five important tips for communicating with clients, including what specifics to discuss and what advice real estate agents shouldn’t give.
Garter: “Have Your Clients Gone Quiet Because of COVID-19?”
Tad Travis details how agents can spend time examining and optimizing their sales pipeline and tools, so they are in a better place to hit the ground running when demand surges.
Target Marketing: “Guiding Clients Through COVID-19 Challenges”
Now is the time to audit your client list and identify clients who have gotten more in-person interaction, since you’ll have to adjust your approach.
CDC: “Resources for Businesses and Employers”
Interim guidance for businesses and employers, as well as recommendations for cleaning and disinfection.
U.S. Small Business Administration: “Coronavirus (COVID-19): Small Business Guidance & Loan Resources”
A comprehensive guide to the programs and loans available from the SBA.
Gusto: “An Employer’s Guide to Navigating the Coronavirus”
Everything from legal requirements to what to do if one of your team members is exposed to the coronavirus.
For more advice on using digital channels and strategies to keep your business running, listen to these recommended Snapshot podcasts: