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The world as we know it has changed. Our daily lives have been put on pause. Not much is known for sure except that we must wash our hands, social distance, keep our families and ourselves safe and healthy to the best of our abilities, and maintain a positive outlook. Together, we will get through this.
Real estate has had its ups and downs — and trust me, I’ve experienced many of them — but one constant remains: People will always need a place to call home. Buying real estate remains one of the most stable investments one can make. This provides hope. However, people are in need of support and guidance, especially during times of uncertainty. You as a real estate agent are uniquely qualified to provide perspective and recommendations, always with compassion and great care.
Many people are making comparisons between the financial collapse of 2008 and this pandemic, yet there are significant differences. As we know, this is an unprecedented event in which a global health crisis has ignited a financial crisis. The market will not take years to recover, but instead, it should rebound quickly once we reach a certain level of virus containment. Think of it not as a bubble of excess like in 2008, but as the plumbing being temporarily out of order. It will be repaired, so don’t lose hope.
Buyers in good standing should be particularly interested in the market right now, and it is important for you to connect with them. There will be opportunities to purchase generational assets at lower costs and to begin to build wealth into the future, further proving our point that there will always be people who want to transact, and those who need to transact. I am advising calm, smart, informed thinking and staying the course.
Now is an ideal time to reach out to your community, relatives both near and far, clients and friends — simple, honest and thoughtful messages are appreciated and a meaningful lift to the spirits. Human beings imprint times of hardship within their memories, and they will not forget who reached out to encourage them during this time.
It is vital to stay in constant communication with your sellers and buyers throughout this difficult time. Be present, engaged and here to support and advise them. Stay up to date on the news, as it changes seemingly minute by minute, and represent a steady voice of calm during the chaos. This practice positions you as a trusted source at a time when it is difficult to know where to turn for reliable information.
As always, stay connected with your team. Implement regular Zoom videoconferences, and share your findings and interactions. This allows you to stay on top of your current business and provide further strength and support to each other and your community.
We are all going through this time of uncertainty, but one thing is certain: Humans are resilient. We will make it through. One day, in the hopefully not-so-distant future, you might even find yourself missing working in your sweatpants with that “always open” sign on your pantry door.