The impact of COVID-19 on the real estate industry may have initially been negative as strict lockdown measures swept the country, but real estate agents showed their strengths and ability to adapt.
While most industries had to cut back, and some shut down altogether, real estate found new ways to leverage remote business operations in traditionally a ‘people business’.
As a result of their willingness to and speed of adaptation, Australian real estate agents have recently returned to somewhat normal operations, bringing with them the strategies and tools that helped them survive throughout 2020.
Taking Auctions Online
For many, the hurdle of remote work was a challenge to conquer. In real estate, historically a face-to-face business, you’d assume that would be the case. But agents were quick to prove that assumption wrong. Online auction platforms were actively adopted, allowing auctioneers to continue their craft with great success. At the same time, digital signatures allowed for the exchange of vital documentation so people could complete their property transaction.
Better Client Experiences
Agents didn’t hold back in their creativity, finding ways to help clients buy and sell their homes – even if it meant changing everything about the client experience.
They quickly pivoted to digital processes, replacing the paper ones that had required them to meet with clients to sign offers. eSignature tools helped agents and their clients’ sign offers and contracts quickly without meeting in person. Suddenly, they could process deals just as quickly as (if not more so than) they did when they had to pop into the office to drop off forms. In many cases, they began closing more deals than ever, even showing significant improvements year over year.
Clients benefitted from being presented with additional ways to make a move better without risking their health and safety. Virtual tour and 3D image tools gave agents a way to help clients tour a property from the safety of their own home.
Empathy Gained Priority
Consumer fear and uncertainty was one of the biggest challenges for real estate agents. Buyers and sellers were afraid to enter the market, unsure of what awaited them. But real estate agents were able to draw those consumers back into the market by adapting quickly to technology that helped address their concerns.
Marketing management tools helped agents communicate clearly with their clients exactly what to expect, how they were adapting their business, and why it wasn’t something they needed to fear. And because so many of those tools are free, agents didn’t need to worry that they were taking on extra expenses. This all set the stage for what’s to come in real estate.
Now is the Perfect Time to Get Your Real Estate License
Under unprecedented pressures, real estate agents adapted and evolved, by being on the front foot, trialling new technologies and creating new solutions.
With the industry changing, it’s the perfect time to get your real estate career going. Not only will you be trained in the most up-to-date and effective solutions for selling real estate in the ‘new normal’, but you’ll also be positioned to hit the ground running as soon as the market starts to rebound.
Global Real Estate Training offers affordable, high-impact online training courses that help you improve your real estate career anywhere in Australia. Our courses can equip you with the expertise, professional network and skills you need to succeed in this competitive environment. To learn more, contact us now.