On Wednesday, March 11, the World Health Organization (WHO) declared the coronavirus as a global pandemic. To mitigate the risk of spreading the infection, several precautionary measures are in effect across the United States. With schools and public spaces closing, multiple states have also banned large gatherings. Many businesses are requiring employees to work from home, while others are shutting down operations entirely. The effects of coronavirus on businesses within the United States poses the question of how the coronavirus will impact homebuyers, sellers, and real estate agents of the industry at this time.
Impacts and Implications of COVID-19 Precautions
While many homebuyers and sellers in the U.S are rethinking their real estate plans due to the coronavirus, rates are at historical levels, and there is still a demand for buying and selling homes. Real estate agents may simply need to change their approach to accommodate these precautions and assist homebuyers and sellers remotely. According to guidelines issued by the National Association of Realtors (NAR), real estate agents are now encouraged to propose alternative marketing opportunities for their sellers, such as videos, Facetime meetings, and virtual tours.
What does this mean for real estate agents?
The coronavirus has recently changed the way that real estate agents are both interacting with clients and obtaining leads. As it stands, online leads are the safest route right now. The vast majority of homebuyers are not going to be showing up for open houses to avoid being around groups of people. One major appeal of online leads today is that they significantly reduce or eliminate face-to-face interaction in the first few weeks you are working with them. What makes this strategy incredibly successful is that it allows real estate agents to coordinate with 10 to 20 buyers at a time. This method, when compared to agents who show home listings to one client at a time, provides a more efficient way to generate leads.
Even during this period of social distancing, real estate professionals can continue to grow their online presence and build their pipeline. With current precautionary measures in place, real estate agents can continue to send buyers a list of properties over email. They can also pull buyer information via email and send it over to a lender, allowing them to be qualified and prepared.
Get in touch with Livebuyers
Livebuyers can assist you in building your pipelines of homebuyers while our nation is recovering from this unfortunate situation. The variety of options for virtual interactions is critical for preventing this temporary issue from affecting you in the long term.
Submit a support ticket, chat with us, give us a call or email. Whatever your preferred method of contact may be, we are here to help!