Since there are a lot of unknowns these days, it’s important to think about various scenarios and what you can do to adapt your business to them. In general, some of the things we hear real estate professionals struggling with during this crisis are a decrease in buyer demand, requests from sellers to take their homes off the market for now, and an inability to conduct showings.
These issues are already changing the way real estate business is done today, but it’s likely that these changes could influence the industry in the future. Here are six questions to consider as you look to adapt your business to the “new normal.”
1. Will you continue posting new properties as they are ready to list?
Depending on the trends you’re seeing in your local market, you might want to consider waiting to post a “fresh” listing until after demand has picked up and properties can be shown safely.
2. What will you do with your current listings?
Will you leave your listings on the market, or do your clients want to pause and wait to sell until after this situation has passed? Either way, you’ll want to consider pausing all paid marketing efforts on some listings until those properties are ready to be sold.
3. What will you tell buyers?
How are you advising potential buyers? Are you telling them to pause their search, or will you continue researching properties for them so they are ready to consider them when this situation has passed?
4. What are you doing about your lead generation efforts?
Consider pausing any general lead generation campaigns you have running until new leads are more actionable.
5. How will you respond to inquiries from potential clients during this time?
Consider formulating a response ahead of time that you can copy and paste into an email that lays out what you currently know about the real estate situation in your local market. Add a Formstack form to your website so that your prospects’ information will feed into your Constant Contact account.
6. What can you do to help support your clients?
Think about reaching out to them proactively on a regular basis, whether it be monthly or weekly, with your assessment of the local market during this situation, your recommendation on how to proceed (even if it’s just to hang tight until more is known about this crisis), and any other must-know advice your clients could use.
With the current state of the real estate market, you may now have time to strategize on how you’ll continue connecting with contacts, build up a pool of valuable content that positions you as an expert, and refine your personal brand online to be the clear choice when your market is ready. Of course, consider your unique situation and local market to gauge the most appropriate path forward—always be sensitive to the current situation and respectful of your audience and the situation they are also going through.
Ready to get started? Learn more about the Constant Contact and Formstack Integration here.
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