Navigating the Real Estate Industry in the Wake of Covid-19 Simon Kafati FirstBank Assistant Vice President, Mortgage & Consumer Lending
When, and how, will people get back to buying and selling houses? That’s one of the questions keeping many of us awake at night. A number of real estate transactions have been put on hold as our communities confront the health effects of the COVID-19 pandemic. As the “new normal” begins to take shape, there is an opportunity for real estate agents to strengthen their services.
of REALTORS®’ dedicated portal in order to conduct business activities, like showings, safely. 2. Serve, don’t sell – Right now, people across the country are facing multiple crises that are affecting their health, families, jobs, and finances. This is not the time to be sending out glossy sales listings or strong marketing messages. Instead, focus on how you can be of service to the members of your community. Ask your neighbors, clients and colleagues how they’re doing. What do they need? What do their neighbors or family members need? Let people in your online social circles know, in a low-key way, that you’re available to help.
As we begin to navigate the next phase of restrictions, here are four essential tips and easy-to-implement tactics that will help you strengthen your business and fortify client relationships. 1. Know the facts – Ever since the coronavirus first emerged in the news, the story has been changing and developing with breathtaking speed. In order to understand the issues and regulations as they relate to the real estate industry, including social distancing regulations, you have to tap into reputable trade sources. Since each state has different laws regulating real estate transactions, it’s important to follow the national industry news as well as the latest developments for Colorado.
Tactics: Tap into NextDoor to see what your neighbors and community may need help with or reach out to clients, friends, and your network with a simple phone call or email to check in. Also consider creating care packages for clients, neighbors or prospective clients and drop them off on the front porch. Include comfort snacks, coffee and tea, recipe cards, and tips for stress relief with a personalized note. Looking for ways to help, not sell, people during this time will help you build relationships and make connections that can lead to business in the future.
Tactics: Resources like the National Association of REALTORS® website provide helpful industry information at a national scale. For Colorado-specific information, stay tuned into the Colorado Association
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