How to Bounce Back Effectively once the Property Industry Strikes Back

Across the world Estate Agencies are starting to open their doors to the business that has been taken away from them in recent months. But what will you do when you get back into the office? I suppose this really depends on what you have been doing whilst you have been in lockdown, for those estate agents that have used the time effectively then it may be much easier to ease back into working life, but for those who have taken the time to relax then it may take a little more time. To help you get the most out of the next few months and become the estate agency of choice as the Property Industry strikes back, we have compiled a list of things you should be doing to get the best possible return from this pending property boom!

Download for later

By submitting this form, you agree to Property Webmasters using your personal data in accordance with our Privacy Notice. We will use your data to send you free marketing tips, news and our latest services. You can unsubscribe at any time.

How to Bounce Back Effectively once the Property Industry Strikes Back

It starts with safety

Before even considering opening your offices, inviting team members back to work and conducting viewings with clients and prospects, you MUST first adhere to specific safety regulations advised by your local government.

Some of the safety measures you may wish to consider are as follows, apply them accordingly and stringently to your business operations for the foreseeable future.

Staff/Office/Client Safety:

  • Follow social distancing rules… 2 meter distance between staff members at all times
  • Supply your team with cleaning products such as anti-bacterial wipes and hand sanitizer
  • Be vigilant cleaning, especially those areas that have regular touch points such as door handles, kitchen and toilet areas within your office space
  • Leaving communal doors open to reduce touch points
  • PPE Equipment may also be supplied should you feel this be necessary 
  • Provide documented guidance to your staff and clients on how you plan to approach getting back to business
  • You may wish to consider a phased approach to office working. At Property Webmasters we are staggering the number of staff that are coming into the office over the coming weeks.
  • Stage Virtual Viewings wherever possible

Useful documents produced by UK government: 

Risk Assessment Template >

Covid19 Office Guidance >

Extra guidance you may find useful can be found here:
Disclaimer – We are not scientists/professors or doctors and the above advice is given in a general common sense way. If you do not agree, then feel free to follow your own initiative.

On with business…

Pent Up Demand

As you should know, there is now huge pent-up demand for property on a global basis and there is real opportunity in the coming months for you to take advantage of this to grow your business and provide an impeccable service to your clients.

The demand and desire to move home will be at an all-time high, this is largely due to the fact that people will have been largely stuck in homes that they simply have no love nor passion for. For those looking for a second home abroad, if now isn’t the time to go and grab your dream home in the sun then I don’t know when it is.

The pent-up demand is not specific to just one client type, there is demand across the board:

  • Rentals
    • Clients looking for new rental properties due to financial circumstances, good or bad
  • Sales
    • Those looking for that dream move
    • Again, you may have to consider those that have run into financial difficulty and may be out of work and looking to downsize
  • Sellers
    • A seller is more often than not a buyer too
    • Attracting sellers is arguably the most lucrative client type for estate agents worldwide
  • Landlords
    • They too are keen to fill any vacant properties
    • They will also be keen to find bargain properties amidst the crisis

Ultimately, we feel that people will be more inclined to take risks following the crisis. This will be largely due to their experience of missing out over the last few months. The time is now to grab life with both hands, and we feel that this will be reflected in property transaction activity on a global scale.

Attracting international clients

International transactions will take longer than others, due to the restrictions on travel over the coming months. Many of our clients have experienced this first hand BUT the intent is still there and we have data to back that up. Real Estate/Property searches are reaching peak levels, and our clients are receiving the benefits of this with increased traffic volumes and high enquiry levels.

We understand that transactions will take another 2-3 months to get back to normal but it is vitally important for you to maintain your efforts in the following areas:

  • Nurturing your active clients
  • Prospecting to closed or lost
  • Ramping up marketing activity
    • The competition is low right now, so stand out from the crowd
  • Conduct Virtual Viewings where possible
  • Refine your property finding service
    • Many international clients come with very specific requirements, if you don’t already then now is the time to improve your property finding service to such clients

Existing Clients

Perhaps the most important strategy of all is to keep your existing clients happy. Hopefully you will have acted on our previous advice to stay very close to existing clients, so during this period you should have strengthened your relationship even further. But now is the time for solutions, and your existing clients will want to know:

  • How you plan to market their property moving forward
  • What safety measures you have put in place to conduct your service
  • If you have any prospects for their properties OR if they have received much interest at all
    • This would determine how you plan to work for them moving forward
  • What technology do you now use to conduct your business
  • What other services you may have to offer
    • It’s a great upsell opportunity to offer Virtual Tours, Drone footage, Professional photography, video etc
    • The other services may have been born out of not being able to conduct business in the same way as before. So services such as the above will be required if the client wishes to attract a buyer or tenant soon

You, as the estate agent, may also want an update from the client. You may wish to ask them the following questions:

  • Has their circumstances changed?
    • How desperate are they to sell/let the property
    • If they are also looking for a property are their requirements the same
    • Do they need your 3rd party financial services now?
  • Has their property changed?
    • Have they improved their property in any way in the last few months
      • Is the property now more desirable
    • Is it priced accordingly for the market conditions given the changes
    • Do you need to revisit and take more up-to-date pictures

This is a great opportunity to ignite a thorough conversation with your client. CALL them, don’t hide behind email or marketing automation, speak to them verbally! We can’t stress this enough!

Pipeline and Prospecting

We really hope that you have maintained your marketing activity during this period, if you have a productive marketing strategy then you should be arriving back to work with a healthy pipeline of prospects. If this is the case, the time is now (if you haven’t already) to start working on those prospects more directly. If you have ignored our advice from a marketing perspective, then your pipeline may look very poor indeed.

If you do have a reasonable pipeline of prospects then you should do the following:

  • Call them!
    • Build that relationship
    • Find out their circumstances
    • Listen to their requirements
    • Follow the call up with the next steps
  • Nurture them with free advice and content that will set you aside from the 5+ other estate agents they have been in touch with
  • Make the sale!
  • Keep building your prospect list through:
    • Marketing efforts
    • Networking opportunities
    • Referral Partnerships
    • Referral Marketing
  • Explore opportunities highlighted below for those without a pipeline

If you are an estate that has dropped all marketing activity and effort, and find yourself with ZERO leads. This is where the hard work starts, focus on the following to get that pipeline moving again:

  • Audiences
    • What audiences do you have to exploit?
      • Email Subscriber List – (Surely you are building a database?)
        • Tenants
        • Buyers
        • Sellers
        • Landlords
        • Previous leads
      • Social Media Followers (please tell us you have active social media accounts)
        • Who are your followers?
        • Why do they follow you?
        • What are their requirements?
        • Explore this as an opportunity to engage with prospective clients
      • Direct Leads
        • Website enquiries (Not many estate agents actually generate leads through their website – Our clients do)
        • Property Portal Enquiries
      • Personal Life Networks
        • What opportunity do you have to win business through your personal network?
          • Family/Friends
          • Sports Clubs and Social Activities
        • How can you exploit this opportunity
      • Referral Audiences – Simply asking people to refer you onto someone they know is looking for your services can be hugely rewarding.
        • This may be past or present clients
        • Family Referrals
      • Closed Estate Agents
        • This does sound quite ruthless but which estate agents have closed recently in your service area? You should be active in finding out so that you can in turn approach their clients.

To conclude…

It now appears that we are on our way to coming out of what has been an extremely challenging time for Estate Agents around the world. Those who have maintained the same efforts that were in place pre-lockdown will find the transition to returning to normality an easier and more profitable one than those who haven’t. They should now have a pipeline ready to hit the ground running with and make up for all of the uncertain time that this pandemic has caused. Your brave and bold efforts will be rewarded!

Although those who’ve had to pause or reduce their efforts in certain areas of their business have a lot of hard work and catching up to do, they can still make the return to normality productive by following the strategies we have mentioned above. If done correctly, the upcoming months could be the most rewarding and exciting times estate agents have ever seen. However, it’s up to you to make sure that it is!

COVID-19 has had an obstructive effect on almost every industry in the world but it’s those who react to the disarray the best who will come out of it the other side and rise to the top.
As always, if you’d like to discuss this with a more detailed and personal touch, our team is here to offer our advice and help you in any way we can.

Related Articles
Marketing Guide
The scary part of all of this comes predominantly from the uncertainty, financial risks, lack of experien...
Adam Jennings By Adam Jennings
Marketing Guide
From Social Media Marketing to SEO (Search Engine Optimisation), there is a multitude of Digital Marketin...
By Ben Spowart
Marketing Guide
At Property Webmasters we have seen a shift in mentality from the top agents as more are looking to get t...
By Ben Spowart
Let’s talk generating
and converting leads!
We are a friendly bunch and would love to hear from you.
Fill out the form below and we will be in touch

By submitting this form, you agree to Property Webmasters using your personal data in accordance with our Privacy Notice. We will use your data to send you free marketing tips, news and our latest services. You can unsubscribe at any time.

Request a FREE Design