Whether you’re looking to sell some real estate to shift around your investments, or you’re a business that’s predicated on the sales of homes, this is a tough time for sellers and buyers in the market of properties. With everything uncertain, and a recession or depression apparently on the horizon, there are good reasons why mortgage lenders are being careful with the loans the give out. But, if you’re a real estate agent with a business to uphold, you’re going to need to shift properties regardless of the global situation and that’s where the tips below come in.
Be Aware of COVID
One of the first tips you should onboard for the next few months is the fact that COVID has made the idea of moving into a new home a little frightening for many consumers. Why? Because a new space is seen as an unclean space, and bacteria and viruses are very much on people’s minds at the moment. To help put consumers at ease, you can:
- Make sure you conduct a very thorough clean of the property you’re selling
- Give constant assurances that you have a COVID-19 protection process for viewings
- Offer video viewings and tailor the experience of your buyer around their comfort
- Buy PPE for yourself and for any of your representatives
By being professional and ensuring that you’re putting consumers at ease, you’ll be more likely to see them part with their cash in exchange for a new home.
Meanwhile, there is likely to be a general decline in home ownership as a result of the COVID-19 pandemic. Why is this the case? Well, as with any moment of job loss and insecurity, a depression is likely to create conditions in which people default on their loans and mortgages and find themselves moved out of their homes.
All this means that all businesses in the home buying space should consider their options for the future. A great way to keep afloat and to reinvest in new options is to get out small business loans for real estate agents – the kind of loan that you can use to pay staff, cover overheads, and form a new strategy for the future of your firm.
Finally, if you’re selling on behalf of others in the market, this is likely to be a time when you need to talk about market prices and have a close eye on how the market is fluctuating and shrinking as a result of the pandemic. Talk to your clients and see if you can persuade them to drop their listing price a little to accommodate the new normal of economic uncertainty.
As your business thrives on the quick turnaround of real estate, it’s likely that you’re going to suffer when prices are set too high by your clients. As such, carefully persuading your partners to reduce their prices – in order to guarantee a sale – is a good option for real estate agents in 2020.