That rotten virus threw a major kink in your real estate business when all of a sudden you either couldn’t list or show homes at all, or could do so only when using extensive precautionary measures.
How have you and your real estate business reacted to the crisis?
Some agents went into hiding – and quit marketing entirely. They let their real estate business go to sleep.
Others continued to do whatever marketing they were doing when this whole nightmare started. Depending upon what’s been allowed due to State and local restrictions, they’ve also been showing homes whenever possible – even with all the precautionary measures.
Some began using my “This too shall pass” and my COVID-19 Postcard sized prospecting letters. And of course some have written their own. They’re using them alone, or in conjunction with niche-specific prospecting letters.
Some who live where they’re allowed to list and show homes decided to pursue homeowners who need to sell immediately. They’ve been using my “Notice of Trustee’s Sale” letters to offer help to homeowners who must sell quickly or lose all their equity through foreclosure.
Why are some agents hiding while others are marketing?
I don’t know for sure, but my guess is that the agents who aren’t doing any marketing right now think it would be a waste of time and money. Perhaps they’re depressed and don’t see an end to this any time soon.
Three reasons why some agents have continued to market their services.
Not giving in or giving up is in their DNA. In difficult times, strong competitors increase marketing activity, looking to take market share from weaker competitors. Those who have never stopped marketing are strong competitors.
They believe as I do – that there will be a pent-up demand from both buyers and sellers when you’re given the “all clear” to go back to work.
They want to be the agent those buyers and sellers think of – and call- when the time is right.
But what about the high unemployment rate? Where will buyers come from?
Focusing on the millions who are unemployed ignores the millions who are still working – and who may be earning even more right now. It also ignores those who are technically unemployed but have started a small business or gone freelance.
I know of one such woman. She started an online business and is now earning more than she did at her “real job.”
In other words, there are still plenty of people who will have the funds or the income and credit to purchase homes.
As for sellers…
There will be some who are anxious to sell because they’ve either fallen behind on payments or agreed to an unfavorable forbearance plan.
Others will want to sell for the same variety of reasons they’ve always had:
- They want to move to a different city to be near family or friends.
- They want to live in a different climate.
- They want to move up.
- They want to downsize.
- They’ve been transferred to a new city.
- They’re divorcing.
- They’re going into an assisted living facility.
- They have a house in probate to sell.
Your real estate business will look different for a while – perhaps for a long while.
The fear instilled by the daily death reports will have many people being exceptionally cautious – who knows for how long. I read an article yesterday that said grandchildren in 2050 will think their grandparents are a bit strange because they’re obsessed with hand washing. That could be.
With that in mind, open houses may become a thing of the past and wearing booties and gloves into homes may become normal. It all remains to be seen.
Some things about your real estate business will not change.
Real estate buyers and sellers will continue to need agents who will guide, advise, and protect them. They will continue to want agents who are knowledgeable and who communicate often and well. They will continue to appreciate being treated as if they and their concerns are important to you.
Hopefully, you’ve kept your real estate business awake…
You’ve stayed in touch and kept yourself top-of-mind with the people who will soon be ready to buy or sell. Yours is the first name they’ll think of as the economy opens up and they become eager to act.
But if you and your real estate business have been in hibernation, I encourage you to wake up and get back to marketing.
For the past few weeks I’ve been writing about things you can do to promote yourself. If you’ve been skipping those messages because you didn’t intend to even try to list of show a house during the crisis, it’s time to get going before it’s too late.
Click here to scroll through the post titles and start reading.
Remember those top competitors. They’re there, and they would love to take your market share.
One more thing…
In case you missed my email on Monday, Marketing expert Graham McGregor has just released a wonderful new marketing guide called “The Plan B Sales Solution.” It contains more than 49 helpful strategies to grow your business in times of massive change.
It’s yours for the asking. All you have to do is register your name and email address at: www.simplemarketinganswers.com
I’ve been on Graham’s email list for a few months now, and I can tell you that he sends out hugely valuable daily sales and marketing tips. You won’t be sorry if you join his list.
Sleeping agent Image courtesy of artur84 at FreeDigitalPhotos.net
top agent Image courtesy of supakitmod at FreeDigitalPhotos.net
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