This article offers help for real estate agents. I share my predictions for the back end of 2021 along with ways to continue prospecting during Covid-19 lockdowns.
It’s been said that there is nothing certain but death and taxes. But the other thing we can be sure of is change.
If history has taught us anything it’s that things never stay the same. And in the world of real estate, as in life itself, there are those who anticipate change, prepare for it, and embrace it, long before it arrives.
And then there’s everyone else – people who bury their heads in the sand hoping that whatever has got them worried will go away on its own, without any effort or action on their part.
As I see it, we are about to hit a perfect storm. Like all storms, when you know it’s coming, you can prepare. And those who are prepared will come out way ahead of those who just sit there and let it creep up on them.
What's in store for real estate agents
in the second half of 2021?
At the time of writing, New South Wales has over 70% of the population in lockdown and other states throughout Australia are now following. This gives agents the perfect opportunity to take advantage of what many will be predicting as doom and gloom for the industry.
The pandemic has been a game changer for anyone in the business of selling anything.
Yet despite Covid-19’s best efforts, incredible prices have been achieved and there has been no shortage of street and suburb records broken. Let’s face it. The real estate market has been buoyant for a long time now and the pandemic has down nothing to slow it down.
My predictions for the real estate market
If you’ve been in the industry during one or two previous market cycles, you’ll know that as inevitably as the sun coming up every morning, things will eventually turn again.
I believe that before the end of 2021, in Australia at least, quality listings will become tighter and momentum is likely to swing to a balanced market or even a buyer’s market.
Agents will then be faced with buyers who have the upper hand. Vendor expectations may take time to align with new market conditions, days on market will blow out and there will be no sense of urgency from sellers or buyers.
The time to adapt is now.
Don’t be reactionary. Be brave enough to face reality head-on. These past 12 months have been great for agents. But you can’t ride on a strong market forever. The tide will turn. It always does. And when it does you’ll have nowhere to hide.
If you’ve been coasting along without any thought to your future pipeline, when things slow down you are going to feel as exposed as a nudist at Sydney’s Darling Harbour.
Start putting strategies in place now to really connect with your local community. By doing this before the market changes you will have a huge advantage over your competition. And that’s always a good thing in my book. 😀
Help for real estate agents
What can you be doing now to
succeed in real estate in 2021 and beyond?
Stop doing what everyone else is doing. You won’t get noticed or stand out from the pack by following all the other agents in your area.
There are now more people at home than ever before . The vast majority of them are online. This makes it the perfect time to start forming connections with your ideal client.
By connecting with your community in a genuine and authentic way, you are setting the foundation for a solid future relationship.
Unfortunately, many agents have a short term view and are always looking for the now seller. This is detrimental to your long term success.
Take the time to nurture relationships with potential sellers and buyers. It takes less time to do than traditional prospecting strategies and it costs way less.
Content marketing and digital real estate are the best ways of connecting with your ideal customer.
The best way to do this is via your own website. If you don’t have your own agent website yet, don’t panic. All is not lost.
You can build an audience on social media for now. It’s not perfect but it’s a lot better than cold calling or walking the streets everyday. And it provides far better results.
But you must be strategic with it. If you don’t have a social media marketing plan you’re wasting your precious time, and your hard-earned money.
Social media help
for real estate agents
Start by helping your followers solve problems. Do so in a way that is all about helping them. Give your information freely. You could start by educating your ideal client on the changing market conditions.
Really start to connect by sharing online content that is NOT real estate related. Yes, that’s right. Share content with your followers that is not about real estate.
Conclusion: I first got into real estate sales in 1996. If this pandemic had of been around back then, many agents would have lost their livelihood. Despite Covid-19 having a big impact on the way that agents do business now, many are still reaching out to potential sellers and buyers like they did two decades ago.
Thanks to modern day technology we can access information faster than ever before, communicate our knowledge to the masses and make friends far and wide, from anywhere that we choose, as long as we have a mobile phone.
It’s time to take a deep breath, embrace change and be thankful that we are living in the age of the internet!