5 Tips For Real Estate Agents To Emerge Stronger After COVID-19
It’s been many days into the Circuit Breaker (aka Lock Down). This unprecedented Covid-19 pandemic has been an challenging event and I know you are frustrated and fearful of your sudden loss of income. These disempowering emotions will lead us to poor actions and hence, produce poor results.
As you and I know, we cannot control the Event but we can adjust our Response so that we will have a better Outcome. Our response can put us into powerful emotion states that will drive positive actions and create breakthrough results for ourselves.
If you are a Real Estate Agent, the last thing you need right now is a pep talk. Instead, let’s focus on some tactics you can apply to continue to grow your business so you will emerge stronger from this challenging period.
Today I am going to share with you 5 tips that can help you to defy all odds and continue to grow your business after this crisis.
Reconnect to your old friends and clients
As all of us are isolated at home now. This is the best time to reconnect with your Circle Of Influence. Be it your friends that you have not met for a long time or the old clients that transacted through you many years ago, now is a good opportunity for you to show care and concern.
People will have more time to communicate with you; they will want to catch up with you to find out how things are. You will find opportunities if you call or send a text to them now.
So prepare a list of your old classmates, ex-colleagues, old friends, neighbours, various group chat participants and current network. Send a personal message to them to make connection and foster a good relationship.
Do not stop prospecting for new clients
NEVER EVER STOP PROSPECTING! As we all know, as a Real Estate Agent, finding brand new clients is very important. Even when the market is slow or you have many listings to sell, you should continue to look for new clients.
When you have many clients to serve, you have the choice to focus who to serve. You will be able to convert leads into sales easier and you need not feel frustrated from over demanding clients.
You have to change your prospecting methods. You will not be able to do as many face to face meetings as before. You should go more aggressive in your digital prospecting from now onwards. The cost per lead now is so much cheaper than before. Your online advertising dollar is working harder for you now. People are spending more time in social media in this period. You can reach many more people with the same amount of money.
Re-Strategize your business
Real Estate Agents do not always have to sell up the market. In this challenging time, you may also offer value to your clients by suggesting some tips for owners to tide over this period. These are some of the ways that maybe able to help them.
- Refinance their mortgage
- Stretching the loan tenure
- Apply for mortgage deferment schemes
- Take equity loans
- Downgrade to a smaller house
- Sell and temporarily rent
Learn new skills
Like I mentioned in my previous article, Learn Like A 5 Year Old, learning new skill is a big part of the success equation. With more consumers getting more savvy and the rapid rise of technology, you must pick up as many skills as possible to be able to excel.
You have to learn to conduct virtual viewings, online presentations, talk in front of camera to produce videos, edit videos, take good photographs, design nice artworks, write engaging blogs, analyse market trends, internet and social media marketing skills. These skills will help you open more doors, increase your conversions, lower your costs and accelerate your success.
The modern illiterate are not people who cannot read and write but those who cannot learn, unlearn, and relearn.
Whatsapp me and I will send you the E-book.
Adopt a new mindset
Your mindset is critical in how you cope with life's challenges. After the circuit breaker is lifted, things will not be the same as before. You will be put in a more challenging situation.
The New Normal will consists of lesser physical meetings and viewings. Many presentations and negotiations will be done over messages, calls or video conferences. Many documents will be signed digitally and deals will be transacted online.
You will be expected to work remotely and communications with relevant parties will be more difficult. You will need to adapt to these changes as quickly as possible. Real Estate Agents that can adopt the correct mindset will be able to thrive. So get ready to embrace this new experience.
Click here to see what OrangeTee Head of Research detail outlook after Covid-19
Over the last 20 years, I have been through the Dot-com bubble (2000), 911 (2001), SARs (2003), Subprime Financial Crisis (2008), H1N1 (2009) and 8 rounds of Property Cooling Measures (2010-2013).
Every time a crisis happens, the market will be panicky. Many analysts will predict the property prices will come down by a significant amount and many people will start to be fearful. But guess what? The market recovered every single time and prices move even higher than before. There will be no difference this round.
Today’s medical and technology advancement will be able to eradicate this pandemic. By then, the market will be robust again and you as a Real Estate Agent, better be prepared for the opportunities.
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If you would like to look for a proven mentor to shorten your learning curve, you can Whatsapp me. Otherwise you can schedule a 45 min consultation with me too.
To Your Success,
Gary Chua
Gary Chua is the co-founder of Navis Living Group
—A 1300 agents-strong division with Huttons real estate agency, and the fastest growing group in this competitive industry. Gary is also a mentor to many real estate agents and team builders, for two decades and counting.
Before devoting his work full-time to grooming realtors, Gary was himself a distinguished real estate salesperson. He first stepped into the industry at age 30 in Year 2000 and having been Top 50 Achievers in his 5 years of sales, he understands the hurdles and challenges facing both new and experienced agents, and is thus equipped with a wealth of knowledge to aid and teach the property agents whom he takes under his wings.
In 2005, Gary realised that his true calling was to groom and coach the next generation of real estate agents. It was also the year that he consciously diverted almost all of his time and effort into recruitment activities, putting his personal sales aside and taking a hit in his bottom line.
Through sheer grit and determination, Gary's vision took hold as his team expanded, eventually growing to become the largest division in its agency, and also one of the largest in Singapore. It cultivated numerous top producers and achievers throughout the decade—some of whom have clocked in more than S$1,000,000 in commission in a single year, broken many sales records, won many local and international awards, and helped many real estate agents achieve outstanding results and realise their financial freedom.
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