Episode 110: STAY CALM, ADAPT AND CARRY ON | Pondering Wandering

In Episode 110 of the Wandering But Not Lost Podcast, co-hosts Matt Emerson and Jan O’Brien discuss why it is so important that you remain calm, adapt, and evolve in uncertain times.  The spread of COVID-19 across the globe has been the topic of conversation for weeks and now that it is quickly advancing in the US, anxiety is high.  We’ll talk about what you can start doing to ensure that you stay in business for the long haul.  In Wandering Zen, we look at how the pandemic will be changing travel and entertainment in the near future.

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ADAPT TO CHANGE NOW!

• “Change before you have to.” —Jack Welch
• “Change is the only constant in life.  One’s ability to adapt to those changes will determine your success in life.” – Benjamin Franklin
• “When we are no longer able to change a situation, we are challenged to change ourselves.” —Victor Frankl
• “Every success story is a tale of constant adaptation, revisions, and change.”  Sir Richard Branson
• “A bend in the road is not the end of the road…unless you fail to make the turn.”  – Helen Keller
• “Those who recognize and adapt to change early will survive and thrive in any market.”  – Jan O’Brien

 

Let’s address the obvious:

• Mortgage rates are at all-time, record lows
• Everyone still needs a place to live
• Some buyers and sellers may adopt a “wait and see” attitude
• Most people will still need or want to buy and sell homes
• The stock market plunge will impact decisions to buy and sell homes
• The Luxury Real Estate Market may be impacted more
• The economic impact is already happening – Recession is looming. Experts have been talking about an impending recession for months.  COVID-19 may well accelerate that reality especially if it is prolonged
• We do not know exactly how long this will last and thus how long to recover and get back on track
• Stay calm. Follow best practices.  Adapt your business!

 

Be the Trusted Advisor

Stay informed & educated about Latest info on COVID-19

CDC https://www.cdc.gov/coronavirus/2019-ncov/index.html
WHO https://www.who.int/emergencies/diseases/novel-coronavirus-2019

• About the Housing Market
  • Housing Wire https://www.housingwire.com
    https://www.housingwire.com/articles/can-the-housing-market-withstand-the-coronavirus/
  • Market Watch https://www.marketwatch.com/
  • com https://www.realtor.com/news/real-estate-news/
• Know Your Local Market – Be the Expert
  • Market stats and trends from your local Association of RELATORS or MLS
  • What price points are most impacted?
  • What price points are moving faster?
• Learn or sharpen your skills as necessary for you!

 

Multiple Lead Generation Sources

Your Database!

Investors – iBuyers

Rental Market & Property Management

What is Your Niche?

 

Open Houses

NAR Guidelines – Should I still conduct open houses on my listed properties?
https://www.theguardian.com/books/2020/mar/05/theres-something-out-there-spread-of-disease

Speak openly and honestly with your seller about the pros and cons of holding an open house. Assess the risk based on your specific location, and direct your clients to local and state health authorities for specific information about the severity of the risk in your area. You could also propose alternative marketing opportunities for your seller’s consideration, such as video tours and other methods to virtually tour a property. If you do hold an open house, consider requiring all visitors to disinfect their hands upon entering the home, and provide alcohol-based hand sanitizers at the entryway, as well as soap and disposable towels in bathrooms. If you decide to do any cleaning at your client’s home, be sure to check with your client in advance about any products you plan to use. After the open house, recommend that your client clean and disinfect their home, especially commonly touched areas like doorknobs and faucet handles.

• Have a discussion with Sellers about safety –preventive measures
• Offer hand sanitizer (If you can find it – giveaway small bottles)
• Clean common surfaces and door handles

 

Leverage Technology and Video

Don’t stop marketing – in fact, do more marketing!

Innovate!  Adapt!  Be Bold!

Your Listings – Virtual Open House – Showing On Demand

• Sign in the yard with info on:
  • Video Tour
  • 3D Tour
    • Matterport – work with a videographer or company that has this camera/technology
    • Zillow 3D Home https://www.zillow.com/marketing/3d-home-faq/
  • Call for Personal Showings
  • Facetime – video chat (Skype) live tour of the home

Buyers

• Video Walkthrough
• Virtual Showings

Master Your CRM and Use it Daily

• Specific types of contacts with specific messaging for that group
• SOI, Investors, Renters, Buyers, Sellers
• Agent Network
• Text, emails, calls, video texts
• Bombomb for video email messaging
• Hyperlocal newsletter

Video Marketing

• Facebook and FB Stories
• Instagram & IG Stories
• Linkedin
• LIVE on Facebook, IG and/or YouTube
• Create a Video Show
• Optimize a YouTube Channel
• Video Home Tour of the Day – new homes, listings (with permission of listing agent/seller)
• Create a page on your website or Blog for your Videos/ Video home tours
• Create Playlists on Facebook, YouTube

Social Media Marketing

• Repurpose your videos
• Boost your video posts
• Do more paid advertising

Paperless Transactions & Electronic Signatures – transactions have been done in the past and can certainly be done virtually!

Video Conferencing with clients

• Facetime
• Skype
• Zoom – screen sharing

 

Always Follow Safe & Best Practices

NAR Guidelines

https://www.theguardian.com/books/2020/mar/05/theres-something-out-there-spread-of-disease

Be mindful of Fair Housing Guidelines – treat everyone fairly and the same!

REALTORS® must be mindful of their obligations under the Fair Housing Act, and be sure not to discriminate against any particular segment of the population. While the coronavirus outbreak began in Wuhan, China, that does not provide a basis for treating Chinese persons or persons of Asian descent differently.

I typically drive my clients to showings. May I refuse to drive potential clients to see homes?

Yes. However, be sure that any change to your business practices is applied equally to all clients. You may refuse to drive clients who show signs of illness or reveal recent travel to areas of increased risk of coronavirus, or you may instead decide to stop driving clients in your car altogether, and simply arrange to meet clients at a property. If you do continue to drive clients in your car, it is a good idea to frequently clean and disinfect surfaces like door handles and seat belt latches, and to ask clients to use hand sanitizer when getting in and out of the car.

May I ask clients or others I interact with in my real estate business if they have traveled recently, or have any signs of respiratory illness?

Yes, you may ask clients or others about their recent travel, particularly to areas identified as having an increased risk of coronavirus. To avoid potential fair housing issues, be sure to ask all clients the same screening questions based on current, factual information from public health authorities.

 

CDC Guidelines for Prevention of Illness

https://www.cdc.gov/coronavirus/2019-ncov/index.html

• Staying home if you have a fever, cough, shortness of breath or any other cold or flu-like symptom.
• Washing your hands frequently with soap and water for at least 20 seconds. If soap and water aren’t available, use an alcohol-based hand sanitizer.
• Avoiding touching your eyes, nose, and mouth with unwashed hands.
• Avoiding close contact with anyone who is sick.
• Cleaning and disinfecting frequently touched objects and surfaces.
• Covering your mouth and nose with a tissue when you cough or sneeze, or cough or sneeze into your sleeve.

Be safe. Stay Calm. Adapt. Carry On.

In today’s Zen we chat about wandering during the COVID-19 pandemic and share some ideas on what to do if you do end up staying in for a while.

 

 

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