During COVID-19, 360-home tours are a recommended alternative to an open house. Update on Safe Real Estate Services During COVID-19. But few more rapidly than real estate and development. Such trying times surely present unprecedented challenges, but also offer a rare opportunity to try out the innovative and untested business strategies. It cannot be predicted just yet how the market will respond when the lockdown is lifted. Eye-catching photos and video have long be… RECBC has been monitoring the evolving situation with COVID-19 and we are working to continue to serve real estate professionals and the public. We’ve put together some of the questions that we have been receiving, to help consumers navigate this rapidly changing situation. Another encouraging example of the use of Instagram-influencers is from Ekta World, a real estate firm in Mumbai, which uploads six posts every month and testifies that the exercise has led to a better recall value for their brand. The lead generation strategies discussed above are not exclusive and can be employed in combination, for they only complement one another. You can find answers to many common real estate questions in our Consumer FAQ. Ready to find qualified leads, get expert real estate marketing advice, and sell properties faster, all in one place? With the COVID-19 pandemic getting more and more serious every day, it’s important to support those who’ve been hit the hardest. Thus, a combination of printed and digital strategies can be harnessed in a cohesive way, despite the limitations we are put under in the current season. RECO has received a wide variety of questions about real estate trading in light of the COVID-19 pandemic. Furthermore, you can list the benefits of a certain neighborhood, town, or commercial estate to lure potential future buyers. Please reference the Governor’s Mandates, Alerts, and FAQs here. The code can be linked with any media, be it video or an image gallery of the property or the location of the property. And make sure you’re providing information on completed projects, as well as future sightseeing and open house events. Nothing works like taking the buyers inside the heart of the property and letting them have a realistic experience of what it feels to be inside it. Look for someone who has the experience, local knowledge, and a personality that puts you at ease. "Real estate deals are still happening, closings are happening, and multiple offers in some price points are … Further information about awareness, preparation, directives and national updates can be viewed on the Government of Canada’s COVID-19: Outbreak Update website. It has been found that bigger envelopes, with personalized brochures, receive a better response rate than the smaller ones. Masks, gloves and a waiver: Showing real estate during COVID-19. What are the impacts of COVID-19 on real estate transactions and services? When we say, “online,” we’re talking about your real estate website, but also your listings and just as importantly, your social media. The rampancy with which the virus has spread has forced many countries to put themselves under lockdown, fracturing the very backbones of most industries. Use technology to draft and execute any written service agreements, or standard forms including electronic signatures for documents. The answer lies in the simple reason that these tours are not just videos of the properties but are an extension of a live visit. If you do host an open house, take these safety precautions. The efficacy of the medium was validated somewhat by Century Real Estate, which recorded a 20 percent increase in sales after it included videos in its marketing campaign. In fact, real estate ads that included a video resulted in 403 percent more inquiries than those without. Has COVID-19 impacted your ability to earn money as a real estate agent? "The biggest challenge has been projecting and encouraging a sense of calm for our clients," she says. Sourcing a Real Estate Professional The criteria for selecting a trusted real estate agent should be no different during a time of crisis; source referrals from your family and friends, check out lists of local agents online, and read reviews. We are committed, in this challenging and quickly changing environment, to supporting real estate professionals with information to enable them to provide a high standard of service to consumers, and to protecting the public interest in real estate transactions. Social media marketing plays a vital role for a modern real estate business. British Columbia reported a record of 425 new cases of COVID-19 on Thursday, bringing the total number of cases to 16,560 across the province. Real estate agents can continue marketing their inventory properties by making use of the right channels and reaching out to the right investors. You can also supplement your own content with testimonials from previous buyers. The use of influencers, like actors and local celebrities, to promote a business has been done for a long time, and social media has exponentially increased the efficacy of this strategy. These influencers tend to have a massive or a dedicated niche following, and their followers look up to them for advice and suggestions. Remember, just having a page with a massive following may not always result in good leads and you need to ensure that you interact with your followers and engage them to ease out their apprehensions. Remember that real estate is not a get-rich-quick game. You may think the biggest challenge to selling a house during a pandemic would be getting the buyer in the house, but Amy Berglund, real estate associate with Re/Max Professionals in Denver, says that's not the case. Yet the holidays are not “happy” or “merry” for families who coped with death during the year, or who have been robbed of their usual holiday traditions and gatherings by COVID-19. Closing a deal requires a new type of virtual salesmanship. COVID-19 FAQ: Dealing with Contracts and Disclosure Requirements, COVID-19 Bulletins & Information For Strata Corporations, RECBC Recommends Temporary End to Open Houses, Strata AGMS. Thus, real estate agents and brokers have to up their marketing game to continue being able to generate leads and close deals. Many real estate agents are doing video tours instead of open houses due to COVID-19. COVID-19 and real estate: frequently asked questions. Real estate agents do not have a hand in what happens to the economy, nor can they control what public health directives are given amid COVID-19. With the situation around COVID-19 continuing to develop at a fast pace, RECBC is committed to supporting real estate professionals to provide high standards of service during these challenging times, and to protecting real estate consumers and helping them make informed decisions. Direct mail not only delivers a tangible communication material but also inculcates a sense of personalization. Real Estate. Extremely inquisitive about the contemporary developments in marketing tech, he aspires to bring the most pragmatic ones to the forefront. There are various ways through which these influencers can market a brand without making it seem like a hard sell — something that the younger generation tends to be skeptical of. The scenario: Use this template when you find yourself without … But all this is not to say that the real estate sellers should sit still and wait for the spirit of the market to revive organically. Here are seven ways to adapt your strategy as a real estate agent during the COVID-19 pandemic. Questions arose about how to sign paperwork and get documents notarized. Here are five lead-generating strategies that people in the real estate industry can use to market their properties: Buyers are found to be drawn towards videos when looking to buy or rent a property. However, according to some experts, the post-lockdown phase will be the best time for people to invest in properties, for they can be had at a price lower than usual. Seek your client’s feedback and, where applicable, budgetary approval for implementing the COVID-19 … But for people looking to get a new loan or refinance their existing loan, it’s important to understand how lending practises are changing amid COVID-19. We also understand that you have questions and we will do our best to offer answers that fall within our area of authority. Looking for more information? Have questions? Buying and selling real estate in the US housing market has been majorly affected by the COVID-19 pandemic. Real estate auctions and open-for-inspections will cease from midnight Wednesday 25 March, as part of the Federal Government’s continued crackdown on public gatherings. As the COVID-19 pandemic has changed the business environment, clients have turned to CPAs for help keeping their businesses afloat. We’ll continue to update these questions as the situation evolves. Updated November 5 - Find information to enable you to continue to provide a high standard of service to your clients, and guidance to help you and your clients make informed decisions to protect your health and safety. And the “offline” strategy of sending a brochure and postcard can easily be brought online, through the use of QR codes. Another virtual edge tours have over physical tours is their cost-effective nature. Version: bc4f44f4, Update on Safe Real Estate Services During COVID-19, Real Estate Professionals Urged to Stop Open Houses, COVID-19 Provincial Support and Information. Extension of Commercial Rent Assistance for Small Businesses. Direct mailing potential buyers still results in good ROI for … Things are changing every day and none of … To this end, real estate marketers must engage their customer base continually with news of market prospects using the digital media, instead of losing them in the general gloom that the virus has brought on. Real estate agents can make social media marketing work for them by providing relevant information and interacting with their followers regularly. Use of QR codes agents are doing video tours instead of open houses recbc! But why do a virtual tour when one can simply make a video a video upload. 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