“When the going gets tough , tough gets going . “
Real Estate markets across the globe are facing challenges with the uncertainties around due to COVID -19 pandemic . It is noticed that there are three major problems in this sector around our country:
First time buyers are delaying the decision to purchase a property, even though they are aware that mortgage is available at lowest interest rate at the moment
Buyers who are keen on purchasing a property to invest are not sure of its appreciation
Sellers are not keen to do a distress sale
These problems in the real estate domain are due to genuine economic conditions , job insecurity and current demand situation.
What should a full time Professional Real Estate Advisor do during these times?
Be a hunter – research , search and hunt. There will be opportunists in the market who are looking to have a bargain during these tough times. They have a clear understanding of their targeted location, approximate budget and mortgage approval. Just like you are looking for them , they also need a mature Advisor with a number of inventories to sell.
Have you spread the word that you are active during Pandemic times ? Are you telling your friends and old customers that you have some great options ? Are you sharing photographs across your community? A hunter needs information which is latent in mind and he has to bring it in open . Hunting is an activity that involves tracking and chasing , You need to look for prospects every time and bring them out for a transaction. Hunter does not mind experimenting and reaching out to people for a discussion for their current real estate need and requirement.
Be a Farmer – This is meant to focus on your long term relationships. You need to understand that seeds of your relationships planted today would give excellent results when the market opens up . Always remember housing follows a basic need and demand cycle . In Covid times , you work like a Farmer ploughing your field by educating your investor community with the help of educational blogs, social media , emails and newsletters .
Just how a Farmer would water the fields, you also should prove optimistic news of reducing interest , attractive bargains , new move ins and outs and other information which adds to your credibility to your potential customers.. Just like a Farmer would focus on long time gains you too should offer help and guidance to your community looking at long term perspective . Every morning , a real estate farmer would explore ways for community service so that investors remember him when the need arises. Farmers believe in long term relationships and focus their energy on developing them with time.
Even though Covid times are tough, Whether you are a farmer or hunter but you need to explore possibilities in the Real Estate Market . Job market may look gloomy and the economic scenario may become scary but Real Estate market continues to thrive worldwide irrespective of whether there are good times or times of crisis. Demand does not change but the price of your inventory and commission associated with it may change . As an example The cycle would continue, People will still get married , people will look for new houses . Some would like to upgrade and others may sell their property to move into a smaller House . Real Estate Brokers have business opportunities at both places all the time. It is just the matter of finding your lead, identifying their needs and suggesting an inventory which fits their requirement perfectly.
If you still feel uncertain about career opportunities in front of you during these times of crises and looking out for opportunities which promise you a prosperous future,then it is the right time for you to reach out to us and start looking at various courses we have to offer at Inland Real Estate School.
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