We know brokers are integral parts of both their local real estate community, and their larger ecosystems. As real estate experts with years of experience and know-how under their belts, and a team that relies on them, brokers might feel some added responsibility. See 5 ways brokers can step up to help their communities, and offer usable resources that their agents, clients, and neighborhoods can use to navigate this global pandemic.
5 Ways Brokers Can Step Up to Help Their Communities
1. Be a Trustworthy Source of Knowledge
As a real estate expert with lots of market knowledge under your belt, you probably have a bunch of opinions and predictions regarding COVID-19’s impact on the housing market. Your knowledge is valuable, so consider starting a blog where you can share your opinions with the public, and let your fellow agents and current clients in on some informed speculation. If you run a regular newsletter (or are considering beefing up your email correspondences), now is a great time to save a section devoted to COVID-19 and its impact on your area.
Remember— being a trustworthy source of knowledge is key. So, make sure that you’re using reputable news sources and sound data to form your opinions. Double check numbers before you post them, and be wary of sensationalism.
2. Be a Source of calm
Things may not feel calm–you juggle a lot even on the calmest days! However, as a seasoned and knowledgable real estate expert, your team and clients look to you to make sound knowledge and judgements, especially during these difficult times.
Of course, you must still be honest. If you see tough times ahead for you and your team, let them know. But, remember: It is helpful and powerful to be a source of calm for your agents. You can provide calm with your knowledge, and tailored and sensitive responses to your teams’ concerns. And, when you’re speaking with members of your team, clients, and junior agents, make sure to speak and act empathetically.
3. Reach out—as a friend, and as a real estate professional
Do you remember the last time you ever got a nice text from an old friend? A thoughtful email from a business mentor your respect? How about a handwritten letter from a dear relative? If you did, it might have made your day! Reaching out during tricky times reminds your loved ones that you care.
First, always reach out as a friend. If you’re in a position where you can offer help for an elderly or immunocompromised friend or relatives, let them know that you’d love to assist— you could pick up their groceries or prescription medicine. Out of all the stories coming out of these challenging times, we think the most striking are stories of compassion and care, like this Palm Beach broker who continued to shop for his elderly clients.
And, reach out as a real estate professional. Let your clients and others in your sphere of influence know that you’re still working and gathering lots of information that you’d be happy to share. While many people are not considering any movement, some still are. For example, according to a March 18-26th survey conducted by RentCafe, 56% of renters plan to move once they’ve found the right apartment, while only 8% report that they’ve completely stopped looking for an new unit. And, these hopeful homeowners or renters will be glad to hear that you’re still working and ready to help them with their next move.
You can reach out on social media, by text, or, if you want to add a special touch, via a handwritten letter or note.
However you chose to do it, make sure to reach out— it’s that simple.
4. Offer to Coach an Up-and-Coming Agent
If you’ve been in the real estate industry for years, you’ve seen your own fair share of down cycles, tough times, and economic anxiety. And, even if you don’t have a long tenure as a real estate agent, being in a leadership position is important.
It’s no secret that newer agents can struggle in real estate. As new agents grow a book of business, commissions can be hard to come by, and the real estate industry is tough to thrive in! Reach out to a newer agent and see if there’s any expertise or guidance you can offer.
5. Mobilize for Charity
If you’re a broker in a stable financial situation right now, consider giving back to your community. The economic effects of COVID-19 are especially challenging for folks who already struggle to make ends meet, and elderly and immunocompromised individuals. If you work in a brokerage or a team, see if some other agents would be interested in asking for donations, or holding a raffle (prize redeemable post-COVID!) for charity. As a prize, think about offering a gift-card to a local restaurant, store, or movie theatre. These businesses are getting hit hard by COVID-19 and your money can help them stay afloat!
6. Brokers can Offer Education to Your Fellow Agents
Chances are you’re spending a lot of time at home. Learning and sharpening your real estate skills are great ways to decrease anxiety, have fun, and build a sustainable business–both during COVID-19 and after the pandemic ends. If you haven’t already built rentals into your business plan, now–as the sales cycle softens, and apartments are able to rent sight-unseen with Rental Beast’ s virtual showing offerings–is a great time to start building rentals into your business plan.
At Rental Beast, we believe that agents and brokers of all levels should have accessible education during this difficult time. So, we’re opening the doors to Rental Beast University, our interactive online education platform for all agents for free.
With Rental Beast University, you can chose from a selection of on-demand webinar courses with proven records of success. Courses include crucial topics including rental best practices, social media skills, and converting renters to buyers.