What are we doing to keep our business afloat or ensure we have business in the coming months?
With less business, we have fewer dollars coming in, so look at what your spending, and what can be eliminated right now. I know I WAS sending out postcards to potential sellers, but have since stopped since right now most homeowners do not want strangers in their homes.
With a bit more time on our hands (unless you are homeschooling) this may be the right time to take classes, get CE credit, obtain a designation, or at the very least update some of your systems to make them more efficient for you or your clients. You could update your listing presentation or buyer's presentation.
It is so rewarding to text/phone clients JUST to check-in, not to talk real estate, but to find out how they are doing, how the kids are doing. Right now so many are stressed about having so much on their plate, and whether or not it is working. I had a parent talk about how her child has possibly lost some of their skills and hoping this setback doesn't have long term effects on them. TALK to your clients....they will so appreciate it. For those current clients, you may need to check in daily with them, as the news freaks them out, whether or not the transaction will actually close is top of the mind for them. You could even send personalized cards to some clients that need that extra touch, it will mean so much to them!
For new listings - I had a great suggestion given to me - in the MLS state the showings needs to be set 2 hours prior to, and that way the listing agent can get the matterport/tours plus the Seller's Property Disclosure over to the Buyer's agent for the Buyer's review, and they need to sign off on this prior to obtaining the lockbox information. This will prevent looky-loos from going through homes unnecessarily. It has been suggested to get a pre-approval letter sent to the listing agent prior to showings, and think this is not unreasonable. I have had a few homeowners call me that lost their jobs, and are worried they may need to sell, and maybe soon. Explain what will be done to keep them safe while showings are scheduled.
The government has authorized drive-by appraisals, to minimize the number of people in a home. This is the time to ensure you have all the data to the appraiser to identify the updates/upgrades that have been done to the home. They won't be able to SEE these, other than photos, and some MLS photos are horrendous.
On a personal note - make a list daily as to what you will work on IN and FOR your business every day (at least 5 days a week) to feel like you have accomplished something every day. Do you have an accountability partner? Check-in daily with them, and each of you should have things that have been done to ensure months down the road, you will have business.
Right now - we don't have an end date in sight. Do what you can today to ensure you will have business in months to come. This is an election year, and typically the last quarter is a bit chaotic. It seems this year, our real estate market could be flourishing during these months.
We are all in this together, and have to do what we can to stay positive!