Updated: May 19, 2020
The economic impact from the COVID19 pandemic is unlike anything we have seen. Some industries, like hospitality, tourism, and entertainment are slowly returning from a near total shutdown from the social distancing measures, travel restrictions, and other limitations. Others industries, like real estate, have been able to maintain various levels of functionality, particularly in regions where legislators and associations were quick to adapt and give lenders, title agents, and borrowers the resources needed to keep closing transactions while maintaining distance.
For real estate agents this meant quickly figuring out how to SHIFT mentally and strategically to be able to sell within the new regulations and amidst the emergence of the highly safety conscious consumer.
This also meant embracing technology and new ways to communicate with clients and potential clients. While most agents are socially savvy in the digital marketing sense, the sales process is unique from many other industries as it has largely remained more conventional with listing appointments, showings, open houses, and appraisals all being conducted in-person.
But now, agents have to navigate and conduct the entire sales process online and this expeditious shift has been challenging for many. How do you make that emotional connection when you can't shake your client's hand? How do you sell the features and benefits of a home when your customers can't touch and feel them?
To be able to connect with clients, you need to deliver compelling visual content. The reason visual works is because when people make a decision its between emotion and logic. Emotion usually makes the decision, logic justifies it. According to Jeff Lobb,
"by embracing the technology and tools available, and by practicing and perfecting your virtual presentation, you are setting your new value proposition. This will not only help you succeed in the current environment, but stay top of mind when the market rebounds."
Jeff is the Founder and CEO of Sparktank Media and one of Inman News' top 100 in Real Estate. He is a leading sales coach across the nation and focuses on Sales, Marketing, Technology, and systems to create more sales and productivity. McDonnell & Associates teamed up with Cottrell Title & Escrow to help navigate this shift by giving agents access to valuable, ready-to-implement tools and sales strategies direct from Jeff Lobb. This highly regarding and insightful webinar is now available in on-demand format. So, get out your notebook and get ready to make the SHIFT!
Ed McDonnell and James Schlimmer also discuss some convenient tools that can help speed up the sales cycle. With M&A EMD NOW you can deposit earnest money in your pajamas! And at the same time you can request documents or get information on a file through our virtual closing bot Hey McDonnell!
But, remember while technology can give you an edge, we are in the business of people, the product is real estate, and what you sell is trust. That is the most important factor.
If our team can help you during this time, please reach out and send us a message.