Anxiety or Covid-19: What is the Real Danger to Your Business?

By
Education & Training with The Lones Group, Inc.

The Lones Group, Inc.

Anxiety or Covid-19: What is the Real Danger to Your Business?

There are many ways to react about the virus breakout. It doesn't seem to matter where you go - the news is talking about it everywhere. It is completely normal to feel concerned, unsure, nervous, worried, and more.

However, the reality is that there is not a lot that any of us can do about the virus other than be informed and be aware of the things that we can do to keep ourselves and our families safe. From a business perspective it may seem like there is a lot of doom and gloom out there, but there are many things you could be doing to keep yourself busy and productive.

If you find yourself more home bound than usual, there are some things that you can do to make that time productive. You can:

  • Catch up on your client connections by sending out a mailer or cards,
  • Work on your Annual Client Reviews which often get put off because you are too busy,
  • Do custom research for each of your potential clients and send it to them now, while they too may be home bound and have extra time.

While it may feel like the world is slowing down and that real estate may come to a screeching halt, that is just not realistic, and it is not worth worrying about. Stop panicking and start taking action to catch up on projects or to help your potential buyers and sellers plan to do the things that they haven't had time to do. How many times does a seller tell you that they can't put their home on the market until they paint a room or put away their belongings or do a deep cleaning? This could be the perfect time for them to complete this project that never seems to make it into their regular schedule.

While the rest of the world may be focusing on only the negative try to keep your mind focused on something more positive and productive. Sit down and make a list of all the projects you would love to complete and then start tackling them.

Don't spend your time focusing on the “what ifs” of this virus. Focus on what you have control over which is making a huge dent in the things you have been putting off. It is normal to worry, but try to put things into a more positive light. Time magazine wrote a great article about dealing with anxiety and the corona virus. It is a great read and I urge you to check the link out below.

Time Magazine: How to Manage Your Anxiety About Corona Virus

Use this quieter time in your business to do those things you just haven’t been able to catch up on. Try to look for the silver lining in this temporary dark cloud. I have personally experienced being in the real estate industry during several other viruses and one thing is for sure, life will go on and we will get back to your normal pace soon enough. Use this time wisely! Make it an opportunity to connect with your clients and catch up on projects.

 

 

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings nearly three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

The Lones Group, Inc.

Comments (15)

MaryBeth Mills Muldowney
TradeWinds Realty Group LLC - Braintree, MA
Massachusetts Broker Owner

This is a great post  to remind us that we need to keep a clear head while dealing with the outbreak.  Our Buyers and Sellers are stressing, our job is to remind them, "that this too shall pass" no matter how fearful we all are.  Maybe it will lead  us all  to being more intune with washing our hands on a regular basis, keeping a reasonable distance from those around us if at all possible, getting rest and fluids to stay healthy and appreciating all that we do have...and best of all this does create opportunity for many for low interest rate mortgages and refinancing as well as creating opportunity for both buyer and seller...sellers can experience demand with a limited inventory...buyers low interest rates and maybe a bit less competition as some buyers put off their relocation a bit.  We have to be the voice of reason - "Keep Calm and Buy and Sell!"  

Mar 09, 2020 07:56 PM
Denise Lones

Thank you MaryBeth. Today's historically good rates do create enormous opportunity for buyers.

Mar 10, 2020 10:01 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Great post.
I’ve been saying for a month now; the most I ever hear of it is in ActiveRain. It’s not part of my day to day. Too busy at work and with family matters to dwell on what I can control.

Mar 09, 2020 08:02 PM
Denise Lones

Good to see you Thomas, been a while. 

Mar 10, 2020 10:02 AM
Anna Hatridge
R Gilliam Real Estate LLC - Farmington, MO
Missouri Realtor with R Gilliam Real Estate LLC

great reminder there is always more to do 

Mar 09, 2020 08:27 PM
Lore Lingner
Monterey Coast Realty - Carmel, CA
Personal Care And High-Tech Tools

Living in California, 100 miles south of San Francisco, I feel fairly secure but will be cautious.  At my open house, this weekend, my attendees and I giggled as we did elbow bumps or the Wuhan "handshake" of touching opposite feet.    It made for a good ice breaker.

On the whole, I think we just need to remain calm, keep doing what we do and not get into big crowds.  We will survive this challenge.  

It is a great time to catch up on projects and a great time to reach out to buyers and sellers with outstanding mortgage rates.

Mar 09, 2020 09:04 PM
Denise Lones

Thanks Lore - Reminds me of this bit from the Late Show https://www.youtube.com/watch?v=-yd2CKH31Hg

Mar 10, 2020 10:06 AM
Carol Tunis
Florida Homes Realty & Mortgage - Saint Augustine, FL
Carol Tunis...a "HouseSold" name!

Common sense and keep those hands washed! 😘

Mar 10, 2020 05:09 AM
TIM GRISSETT
Chapman Hall Premier Realtors - Atlanta, GA

Thanks for the remninder,  great article!

Mar 10, 2020 05:32 AM
Mike McCann - Nebraska Farm Land Broker
Mike McCann - Broker, Mach1 Realty Farmland Broker-Auctioneer Serving Rural Nebraska - Kearney, NE
Farm Land For Sale 308-627-3700 or 800-241-3940

I am sure I am on the other side of the fence from many folks, but I want to be clear here...my buyers and sellers are not stressing about the coronavirus.  Just yesterday 3-9-20, I was with a 95 year old WWII vet who is not worried about it. We closed on one of his farms last Monday. 

I believe it is a new strain of man-made flu and that is all it is. 

The whole situation is blown so far out of proportion that I will not even argue with those that think it isn't.

We have more suicides per hour than what the Corona virus is doing...imagine if we committed the resources to solving that issue.

But...with adversity comes opportunity.  I have been wanting to buy a bunch of certain stocks and they are almost to the buy number I want. 

I want real estate values on farm land to soften to allow more young farmers the opportunity to buy and that is coming.  There are great opportunities in Multi-family. Residential has been too high for a long time.

What makes no sense to me is that oil prices are down and yet people think that is bad and are panicking.  That makes no sense to me. 

 

 

Mar 10, 2020 06:22 AM
Denise Lones

Thank you Mike for the refreshing perspective. It will be interesting to see what the result of this on the market once it is over. In the meantime, here in Washington State, with schools, universities, events, public functions and other closings, everyone is affected - whether they believe it is warranted or not - it takes a mental toll. But agents still need to be able to operate and people still need to buy and sell. - Denise

Mar 10, 2020 10:19 AM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I am not panicking ... but we all need to be aware.

Mar 10, 2020 06:45 AM
Denise Lones

Here in Washington State there are definitely brokers that are more than concerned. Hysteria or no, it is having a daily impact on everyone who lives here, but brokers still need to find a way to operate successfully in every market.

Mar 10, 2020 10:14 AM
Diana Dahlberg

I totally agree.  Hoping this blows over quickly so everyone can get back to "normal" business -- whatever NORMAL is! Denise Lones 


 

Mar 10, 2020 12:27 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I think this is a panic promoted by someone who has something to gain by its affect on the stock market.

If you look at it realistically, this virus is affecting FAR fewer people than the "ordinary" flu - which kills from 12,000 to 60,000 people annually.

Yep - I did some research, and that's what I found.

The bottom line is that we should be careful all the time - hand washing, staying home when you're sick (and keeping kids home from school), and avoiding other people who are sick are all smart moves. Not just now, but all of the time.

Mar 10, 2020 12:04 PM
Denise Lones

Here's a scientific journal that does a decent job of putting the seasonal flu and the Covid-19 in comparison: https://www.livescience.com/new-coronavirus-compare-with-flu.html

Mar 10, 2020 02:15 PM
Richard V. Foster, Esq.
Nevada Perfect Homes - Henderson, NV
Broker (58356) - ABR/M, CREN, CRS, GRI, RRG, SFR

My market (Las Vegas) is controlled overwhelmingly by the tourist industry . . . If the cancellations of trips continue, as it looks like it will, then thousands will become un/under employed.  This will force the sale of homes and drive prices down. Based on the markers I am already seeing, especially in the canceled conventions,  I would not be surprised to see a near repeat of the 2006 price drops... Oh, and I was in Knotts Berry Farm this weekend, and the wait for roller coasters was 5 minutes... Normally 90 minutes or more. People are scared, and scared people do not make smart choices.

Mar 10, 2020 12:20 PM
Brian DeYoung

we wentto the movies this wek. we were alone.


However, next week, we rented the entire theatre, and we are giving away tickets as a client appreciation.


So far half the tickets are gone!


hopefully people come to their senss, and do ordinary things, but, remember to stay home, IF sick.

Mar 10, 2020 01:42 PM
Denise Lones

We have staff going to Vegas this April and they have no intention of altering their plans - just being smart about traveling safely. 


Here in the Pacific Northwest we are speculating how this might affect sales too. One possibility - some of these hundreds of thousands of people who are being forced to telecommute may realize that they don't like their hour commutes and this in turn prompts them to move closer to work - or maybe closer to schools so that their children can be more independent, or maybe take advantage of the market for that bigger home instead of the one they have been crowded in with their family for however long this takes. I'll be watching this closely.


Time will tell and this is a great example of why agents should be carefully tracking their market numbers. Not just so they can be experts for their clients, but so that they can keep their business fed no matter the market.


A shout-out to Brian DeYoung for doing client appreciation events. Good work!

Mar 10, 2020 02:10 PM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

I am not concerned about the virus itself, although I sincerely feel badly for those affected.   

I am more concerned about people's reactions to it, i.e. the stock market, people becoming more cautious of recession, and using that concern for not taking advantage of opportunities to buy or sell.

Can you please give us the link you mentioned to the article in Time magazine?   

Mar 10, 2020 12:34 PM
Denise Lones

Great catch MC. How did I miss that. I updated the post above and here again is that link:


Time Magazine: How to Manage Your Anxiety About Corona Virus

Mar 10, 2020 02:02 PM
M.C. Dwyer

Denise Lones thank you!    I needed that but couldn't find it with a quick search...

Mar 11, 2020 08:02 AM
Brian DeYoung
also affiliated with Howard Hanna - Ithaca, NY
The Realtor with personal investment background

Market is active here, we cannot keep up with the buyers that want to buy!

The virus is real, but so far not as deadly as drunk driving or drug addiction...

Mar 10, 2020 01:40 PM
Sharon Kowitz
CRS-SRES-ABR-GRI-E-Pro-CREN Fonville Morisey Cary, NC - Cary, NC
Cary, NC Relocation Specialist ~ Buying or Selling

Great post and feedback from other wonderful agents.

We do have to keep our heads and be professional.

I have out of town clients who desperately need a home as theirs is sold ~ "homeless"! So pull it together and lets show homes and list! 

Mar 10, 2020 02:43 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I'm not that anxious about it at this time as I believe there is only one confirmed case in the MO/KS area.  But I see what's happening in other parts of the US, and feel it's only a matter of time before it hits hard here.  We are experiencing many travel and event cancellations.

Mar 11, 2020 08:49 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Excellent ideas. Thankfully I"m busy and I hope that continues.  Working from home makes my office a safe place to be! 

Mar 17, 2020 09:42 AM