As the Corona pandemic takes over our lives, and the country tries to grapple with the dilemma, the real estate market has found the need to make its own adjustments. There has been a virtual shift in the buying and selling market, with lesser people opting to go outside of their homes.
Most of the businesses have moved online in 2020. Since the rise of internet bandwidths and better phones came to the market, this move had already set its path. But the pandemic has pushed it to better levels of efficiency.
If we study home buying history, post-1997, the rise in housing prices has been over 74 percent. It hit its peak in December of 2005. Although there was an economic recession in the year 2001, and the stock market came down crashing, the housing market seems unmoved to the domino effect.
In 2012, the housing prices declined so much, affecting the global economy. The pandemic, however, has worked in mysterious ways. The market is sturdy and unmoved to the change, and it’s time for real-estate firms and independent realtors to leverage this situation.
Changing Trend Of Home Buying
Apart from all sales going virtual, a few lifestyle changes have developed among home buyers post the virus outbreak. Realtors have to capitalize on these trends to create the most for their business.
Even promotions and advertising in the real world, like hoarding boards, and paper ads, are unfruitful. Realtors choose to shift the focus and make free Facebook video ads to promote their homes and the business. Click here for making free Facebook video ads.
Here are a few changing trends in 2020:
While the cities are crowded and work no longer is affected by the place you live in, many choose to move to the suburbs. The housing market in the suburban areas sees a massive boom, which will continue to rise for the next few years.
Some homeowners, with deeper pockets, are picking to invest their money into the get-away home. Homes like cabins and those closer to holiday districts are gaining mass popularity. Both the time and opportunity to get away from the city has been a critical decider in the move.
The most notable change has, of course, be the need for virtual or online sales. Not many people are willing to step out and see homes. The real estate industry must adapt to newer and better alternatives to meet the need and sustain the business.
By selling and advertising online, it’s easier to re-direct people to the virtual portal and make better sales. Here are some of the ways in which the virtual market functions.
Going Virtual In 2020
If you are looking to make a virtual impression in these uncertain times, here are a few tips and tricks that will help you make the shift.
1. Make Your Listings Count
The best way to find homes is still listing servicers and online searches. Even before the time of COVID, this was the go-to move for new home buyers. As the whole market moves to the digital-first paradigm, make sure your listings are better optimized.
Proofread your listings to ensure they are well-written and rich in keywords. Do not overuse adjectives or add irreverent information. Use words that help your listing rank higher in the search, without losing its meaning.
Add creative videos and photos of the property to make a lasting impression. It is best to seek professional help and shoot high-quality content. A video on the listing has proved to gain more clicks and better search-result ranking.
2. Make A Sales Video
The need for digital marketing has never been higher. With more people locked into their homes, the volume of online content consumption has also seen a massive spike. This change is the perfect time for realtors to promote their business online.
A useful trick to help you in the process is the use of sales videos. These are videos that explain the housing market, the home buying process, the realtor, and the individual homes. Ensure to end the videos with a valuable call-to-action and drive maxim traffic to your landing page.
3. Promote Better Safety Practices
Safety is, for obvious reasons, the biggest concern of this time. It’s crucial to enforce better sanitization and social-distancing measures. With the help of online posts and videos, let your consumers know that your homes and offices are of maximum safety standards.
By presenting yourself as a firm that takes caution and practices all the safety measures, you are sure to attract more people.
4. Setup Virtual Tours
This is one of the most vivid changes in the system. The use of video-conferencing platforms and live-stream services has become the best way to show a home. Since people do not want to step out and see the house, there is a need to telecast them virtually.
Some realtors have incorporated advanced technologies like augmented reality tours. These are virtual re-masted images of the home that the users can scroll around and see. Just like the street-view feature on google maps, these apps use a collection of photos to create a virtual world.
Another rising technology is the use of VR or Virtual Reality to show homes. The homes are recorded using VR-tech, and potential buyers can get a complete walk-through of the house with just a headset.
Some of these methods are still in their nascent stages and could take time to master. But the move to the virtual world is definitely on its way. As a realtor, one must be a step ahead and adapt faster to these new changes.
The use of simple online promotions is a good starting point. Establish an image for your firm online with social media pages and video content. Understand the power of search engine optimization and produce some quality posts.
Use the online medium to set up a community of followers rather than selling directly to masses. Online marketing aims not to sell on the first opportunity; it is about taking the time to build a brand image and become the go-to option over time.