The Value of Resilience: 5 Ways Real Estate Businesses Can Bounce Back and Remain Competitive in the COVID-19 Era

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As COVID-19 struck the world, businesses closed their doors, and people flocked to their couches instead of their favorite restaurants. However, now that 2021 is in full swing and case numbers are slowly but surely shrinking, consumers are itching to return to normalcy, and industries are adapting to the new world.

One particular business making a comeback is the real estate sector. Safety measures are in full swing, and physicians administer vaccines by the thousands, causing many who put house buying and selling on hold to jump into action. As real estate agents get back to the office and executives work to keep their business afloat, resiliency will be essential. Business owners in the real estate sector should focus on transparency to build trust, implement strict safety measures, and embrace adversity in the name of hope.

To remain competitive during the COVID-19 era, estate agencies need to focus on time management, client satisfaction, and supportive networks to keep doors open and sales flowing.

Real estate business strategies

To be a successful real estate company, your agents need to manage their time wisely to streamline processes. Prioritize effective scheduling and delegating, and implement new-and-improved safety measures to ensure staff members are safe and content. While it may take some time to refine these skills, one of the best ways to improve your business strategy is by investing in a virtual office.

Virtual offices became a staple during the peak of COVID-19 as businesses scrambled to keep day-to-day happenings organized, regulated, and manageable. Because of the numerous rewards virtual offices provided remote workers, many executives have elected to maintain remote positions and offices after cases subside. Virtual offices enable employees to stay on top of deadlines and stay in close contact with clients without compromising health.

Improve organization

Disorganization is a productivity killer businesses should avoid at all costs. Each of your agents should strive to input leads and clients’ contact information digitally immediately after receiving documentation. In addition, your agency should have an efficient filing system to ensure records are safe and easily accessible.

Keep scheduling up to date

To increase productivity, real estate agents need to keep a detailed list of tasks and log their progress daily to stay on top of important deadlines and client communications. Double booking a showing is embarrassing enough on its own, but during COVID-19, it’s also a safety hazard. Sidestep mishaps by utilizing interactive calendar tools for quick, easy access to important dates and meetings.

Avoid pairing agents up

Unless an agent is training, agents should work alone to increase productivity and decrease germ spread. When agents are allowed to work independently, they tend to find more clients and generate increased revenue for your business. Pairing up agents can lead to constant distraction, increased risk of viral transmission, and decreased productivity.

Designate a social media agent

Social media is a relatively new, innovative tool useful for marketing your business and bringing in new clients— but it can also be a productivity killer. To evade time wasted scrolling through various socials, assign an agent the social media manager’s title and ask them to keep track of online ventures. Give them tasks to complete each day to ensure they remain productive and distraction-free.

Choose your clients wisely

While increased clientele may seem like an indicator of success, taking on massive amounts of new clients often leads to an overwhelmed task force and troublesome patrons. Vet house hunters before agreeing to work with them to sidestep any particularly picky or difficult to manage clients and keep face-to-face contact to a minimum.

The bottom line

COVID-19 caused a landslide of changes for industries globally, including the real estate sector. However, employers have bounced back, showing resilience through adaptation and new-found transparency. As businesses begin to pick back up, they must implement new-and-improved business strategies to keep their doors open and clientele happy.