We surveyed thousands of agents and were able to hear first-hand what’s working across the county and, not surprisingly, what isn’t.
Real estate is a resilient industry. As the responses show, most of you are continuing to invest in your businesses and, in turn, generating new business. In fact, the only agents who aren’t seeing any success with their efforts through SIP orders, social distancing recommendations, and overall sentiment in the current environment are those doing nothing.
Read that again.
The only agents who aren’t seeing any success right now are those doing nothing.
Responses are categorized as successful if the respondent explicitly referenced new business generated as a direct result from outreach efforts.
The real estate industry is alive and well and you shared amazing insights and success stories!
Here’s what we learned:
51% of agents are making care calls regularly and of those agents, 46% are generating new business.
25% of agents are leveraging social media to stay in touch with their sphere and continue to market their listings; 35% of which are generating new business.
Only 5% of agents are investing in paid lead generation services, but 75% of them are generating new business.
Ironically, the highest success rate was the least utilized resource for generating business; a glaring example of opportunities missed. We’ve said this before, and we will continue to say it until we are on the other side of this: this is not the time to sleep on your business. Doubling down on lead generation now will secure your seat at the table when the country rebounds.
The bottom line: agents who are active and reaching out to their market right now are seeing success.
Consumers are unsure if and how real estate is being conducted and whether it’s possible to keep moving. They are looking to you and, if not you, other agents in your market for both information and certainty. Show up, whether you have all the answers or not. Maintain your relationships, check in on your sphere and see what happens.
Donny Scott of Great Scott Realty Group in Burleson, TX has generated several new listings and pre-approved buyer leads from his outreach efforts. In addition to making welfare calls and emailing to build relationships, he is posting to his blog and social media with a positive spin.
The country is slowly starting to ease Stay-In-Place (SIP) orders, and, as consumer confidence begins to rebound, real estate agents are met with both an opportunity and an obligation to educate their market.
We recently hosted “SHIFT HAPPENS: Thriving in a Changing Market” with special guest and powerhouse agent, Aubie Pouncey of KW Pacific NW. Aubie stresses, “The world is different. We are in a shift. It’s the market of the moment.”
Aubie’s laurels rest on his ability to dive deep in data from his MLS and distill it in a way that educates his sphere enough to guide them through a decision-making process that is data-driven and puts people at ease.
Consumer search volume for “homes for sale” has completely rebounded to pre-COVID levels, but agent activity is still down 15% and not rebounding at the same rate as consumers.
We reiterate: opportunity is out there.
We’ll continue to publish updated information, trends and resources as situations evolve. If you’ve got any successes, strategies or just positive stories to share as they relate to the global environment today – please share! We’d love to feature you and share your story with the industry.
Please note: Official guidance in regard to COVID-19 is constantly changing. For the most up-to-date and accurate recommendations for your area, please refer to the CDC and your local healthcare authorities.