As broker-owners during a pandemic, I think it’s important that we share notes and discuss what’s happening in each of our markets.
In Texas, real estate has been deemed an essential service. Real estate is still moving, but not as fast as in the past few years. We’re still technically short of inventory, but we’re also short of people moving here due to factors that are out of our control. March posted historic numbers across the board, and April is doing relatively well. But I’m anticipating a very slow start to the late spring and early summer.
Most agents are still relying on the processes that have worked for them for a number of years—with an extra infusion of technology. Virtual tours are now non-negotiable, and wise agents are building out new systems for them to use this technology long after the pandemic passes.
Handling four or five clients a month is fairly standard for the agents at my company, but I anticipate a pent-up demand on the buyers’ side, so I’ll be focused on helping agents scale their business later this year.
I am concerned, however, that some real estate professionals in my area haven’t been putting the safety of others first by wearing masks and taking other precautions while showing properties. That’s why Dallas County recently mandated real estate safety procedures. I’ve been encouraging all of my agents to make safety their number one priority. Our focus always needs to be on our people and not on our bank accounts.
Many of today’s real estate professionals haven’t gone through a tough season. My advice is to be honest with them. There might be hard times ahead depending on your market, but business will continue even if we find ourselves in a “new normal” of social distancing for a while. I’m excited about the opportunities that will arise while we continue helping clients buy and sell real estate safely and efficiently.
I’d love to hear what you’re experiencing in your market and how you’re handling new challenges. Leave a comment below and let’s start a conversation.