Archives for April 2020

Tools and Technology for realtors during the coronavirus Pandemic

realtors during the coronavirus

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

No one can tell us what will happen in the coming weeks. But what we do know is that the new market is just that, a new market that presents challenges and opportunities to adapt. How can you prepare as realtors during the coronavirus pandemic? What tools does technology provide you to get through this moment in the best possible way?

 

The state of real estate during the pandemic

 

In a national report, it is stated that both commercial and residential real estate services are considered essential. Likewise, the construction of family and multi-family homes is designated as an Essential Infrastructure Business. This means that, at least for now, the business of the realtor (except in those states that do not follow the federal guide) will not cease.

 

While the market may be a little skeptical or conservative, there are always those investors who jump into new opportunities, and this is no exception. Low-interest rates have prompted many to wonder whether this time of crisis is not also one of opportunity, like so many others. This is, undoubtedly, an adaptation stage for realtors.

 

It is not new that with the advancement of the coronavirus, most companies (if they can) have opted for remote work. Everything has become virtual: schools, businesses, and public spaces. Nothing that we knew continues to work the same way and, then, it is necessary to return to the fundamental foundations of the real estate business but, this time, rethinking it in a virtual plane. At QKapital we provide tools for the client to change their financial plan or to calculate a possible mortgage loan completely online, with our mortgage calculator. We also make video calls by Zoom and Whatsapp. And, in this opportunity, we made a series of tips for realtors during the coronavirus pandemic, so that, as a team, we can continue to keep our business afloat.

 

How can realtors continue to be effective from home?

 

  • Find the balance between taking care of kids (who now don’t go to school and demand attention) and remote work. Many employers are showing a lot of flexibility, but when you are self-employed, this is a luxury that we cannot afford.
  • Use remote access solutions with the corresponding security needed if confidential information is handled. For example, storing information on Google Drive. Provide virtual tours through Facebook Live, Instagram Live or Zoom.
  • Keep the communication fluid. Without personal contact, communication is even more important than before. Did you know that a minute of waiting on the phone is actually perceived as a longer time by the other person? It happens the same with every other channel of communication. You need to pay more attention than ever to respond quickly and clearly.
  • Anticipate emergency situations and be updated on new solutions and tools. For example, realtors today have contracts that provide more time to close a sale agreement, especially due to the COVID-19 situation. Evaluate all possible situations and what tools we can count on in the worst case.
  • Renegotiate profit margins. Just as the government lowered interest rates, something more tempting for the investor may also be the drop in the realtor’s commission rates.

 

The challenge today is to find creative ways to connect with people. Many of them are socially isolated and human contact has become essential. Beyond the previous tips, our responsibility today is to help the community and stay hyper-communicated on social media.

 

Other than the desire to close sales, it is important to take advantage of this moment to position yourself as a referent and build trust. In the long term, you will also see this reflected in a return on sales.

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Industry experts confident about housing market prospects despite the coronavirus outbreak

low-interest rates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The outbreak of the coronavirus pandemic has certainly proved a challenge for the global economy. Our everyday life has been forced to make temporary changes, as we all take part in a worldwide effort to halt the spread of the virus and resume market conditions to normality as soon as possible. But even though a cloud of uncertainty is hovering around the world right now, this could be a good chance to reevaluate your investment options and consider in which way this crisis could represent an unexpected opportunity for you. Experts in the housing market are confident that given the recent measures issued by the Federal Reserve of the US, there is a break in the clouds for real estate investors. Yes, even in the midst of volatility and uncertainty. But how is this possible?

A shelter from the crisis for the real estate market

Alongside other moves to shield the country’s economy from the effects of the pandemic, the Federal Reserve has cut interest rates to record lows, seeking to boost the flow of credit during the upcoming weeks of strain. Immediately after the first emergency measures were announced, mortgage applications jumped while the sales of homes started showing a steady rise. This is why experts are foreseeing that the housing and mortgage industries will not suffer as much as other sectors of the economy and that the market will remain relatively stable through the outbreak.

But how exactly can you benefit from the current situation? 

 

  • If you are a homeowner looking to refinance your mortgage, this has suddenly become a unique opportunity to get a substantial improvement in your mortgage rates.
  • For those interested in buying, with the extraordinary low-interest rates and with more people expected to stay in a rental property for longer after the crisis, the return on your investment can be significant, especially once the economy starts bouncing back.  

Prospects of recovery for a vigorous industry

The recent attempts to prop up the US economy via emergency measures are been compared to those efforts made during the 2008 financial crisis, which were effective in bolstering the economy during and after the recession and helped fuel the longest streak of economic growth in US history. In a recent statement, the Federal Reserve has assured that the low-interest rates will remain until the country’s economy has recovered from the unexpected downslide provoked by the outbreak.

So, with industry experts forecasting a relatively clear sky for the housing market even in this context, the crisis could represent an opportunity to seize if you are interested in investing in real estate. As we have seen in previous articles, this kind of investment has been proved to be one of the most reliable ways to guarantee you will get a profit from your money. And even more so, in times where the real estate market has shown to be more sheltered than others from the uncertainties aroused by the advance of the virus.

Why real estate investment could be the best option right now

Making the right decision in periods of uncertainty is one of the most difficult challenges we face during our lives. And while it is a fact that the full consequences of the current coronavirus outbreak in the US and the global economy cannot be determined at this point, experts agree that, since this unexpected turmoil has caught the housing market in a robust shape and the interest rate cut has quickly shown positive effects in the industry, there are good reasons to expect that the recovery will come fast enough and that the succeeding rebound may be substantial.

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