Coronavirus

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February
23

As the pandemic spread, few industries changed as quickly or as completely as real estate. In many areas, public safety protocols meant real estate was effectively on pause for several weeks. During that time, agents and brokers all over the country worked around the clock to figure out safe and effective ways to continue serving clients. Never before had there been so much risk.

And those professionals rose to the occasion. Real estate transactions have continued at a brisk pace, giving buyers the chance to access historically low interest rates. At the same time, sellers have benefited from rising home prices in some of the most desirable markets. Now, at last, there are optimistic signs of coming out the other end of the pandemic. But things won't simply go back to the way they were.

Many of the real estate trends accelerated by the pandemic were already percolating in the background. Virtual home tours and showings, remote work, marketing automation, and more have gained traction faster than anyone predicted. The benefits of these fresh approaches remain very attractive. Real estate experts often thrive on face-to-face interactions. It will be a relief to see clients in person more frequently. But the top pandemic trends have unlocked ways to get more done and serve more people — all without having to sacrifice the personal touch that makes relationships work.

Let's look at some game-changing real estate trends that have staying power:

  • Virtual Home Tours and Showings Are More Convenient for Everyone
    Virtual home tours arose out of the need to show property without gathering large groups of people together. But buyers have enjoyed the chance to peruse more properties with less travel — it allows them to widen their search. Sellers, in turn, don't mind not having to clean up after waves of guests. More agents are now comfortable on camera at a time when video marketing is becoming crucial to marketing success.

  • Remote Work is Helping Real Estate Teams Collaborate Effectively
    A striking 4.7 million people were already working remotely when the pandemic began. Working from home leads to lower overhead costs and can spark higher productivity: team members may no longer need to worry about paying thousands of dollars and wasting hundreds of hours in commutes. Yes, remote work is an adjustment and requires trust. With high-speed internet widely available, though, it is perhaps the best time for this trend to thrive.

  • Marketing Automation Means Real Estate Brands Stay in Touch
    How do real estate brands keep relationships going strong when a personal visit is out of the question? Today's internet enables marketing tools with incredible reach and sophistication. Agents can monitor all of their contacts with Delta Media Group's all-in-one solution for real estate professionals and launch personalized email drip campaigns at the touch of a button. Email newsletters, social media, open house management, and more can be achieved in minutes rather than hours.

  • Millennial Homebuyers Are Moving to Cities in Droves
    A mass exodus from expensive states like New York and California led some market-watchers to predict hot urban markets would soon be cooling down. That's not quite the case, further research reveals millennials are still choosing cities. Attractive interest rates, robust housing inventory, and low down payments are some of the main contributors to urban appeal. More than a third of Millennials still say cities are in their near future.

  • At the Same Time, Older Buyers Are Opting for Suburbs
    While younger buyers embrace the uncertainty of a fast-changing world, their elders are keeping more options on the table. Some have decided to move away from densely populated urban centers. Others are taking the opportunity to downsize or to consolidate into multi-generational households. Creative real estate pros will have diverse opportunities with older buyers in the coming years.

  • Now More Than Ever, Agents Need a Professional Real Estate Website
    As time goes on, buyers of all age categories become more likely to start their home search online. In 2018, 44% of all home buyers went online to start their home search. In total, 98% of older Millennials used the internet for home buying. Photography, detailed property information, floor plans, and virtual tours were among the top features they cited as useful. Real estate website design is now inseparable from your professional brand.

Real Estate Is Undergoing a Digital Revolution: The Right Technologies Are Essential to Success

The pandemic has been a challenging time for everyone. It will pass, but the lessons learned will endure.

Today's most effective real estate agents are using technology to adapt, overcome challenges, and add value to their communities. Modern real estate technology is the key to building a practice that lets you deliver sterling customer care while making space for the work-life balance you want in the long term.

To learn more from the real estate digital marketing experts, contact Delta Media Group today.

April
14

Early Signs of Real Estate Market Comeback

Through this Coronavirus Pandemic, we have been sharing insights into different data to pay attention to so you can navigate these difficult times. Check out our previous posts: herehere and here

I wanted to put together a quick, high-level post to share with you what I'm seeing. I feel this will provide some hope as we all prepare for the upcoming recovery.   Over the last couple of months, I have been paying close attention to data trends to determine the depth and length that this impact is going to have on our clients' businesses. In analyzing the data, I paid particular attention to organic traffic. The outbreak hit organic traffic the hardest and, in my opinion, is the leading indicator of what is happening in the market. Organic search activity is driven by intent, and in the initial phase of the pandemic, online search activity dropped off significantly for real estate.

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March
27

Coronavirus on My Business


On Monday I talked about trending data as we are seeing it now. You can find that article by clicking here, and you may want to read it before reading this article.

Additionally, I did a follow-up article to the one I did on Monday where I discussed Rate of Change analysis methodology that I use from ITR Economics. That article can be found here and I also recommend reviewing that article first before you read this one.

For this article, I want to discuss analyzing the lead flow into your business from your web site. I will caution that you need to consider multiple factors when tracking and analyzing your lead flow. I'll mention some of these below.

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March
24

Coronavirus on My Business

Yesterday I talked about trending data as we are seeing it now. You can find that article by clicking here, and you may want to read it before reading this article.

For this article, I want to discuss a tool that I have found to be invaluable in my businesses called Rate of Change. This tool, or methodology, comes from ITR Economics. I was introduced to ITR Economics ten years ago through my Vistage group. What stuck out to me about this methodology of analyzing current data and leading indicators is it provided early insight into trending changes that affected my business.

Specifically, for Delta Media Group, using this methodology, I found early indicators that gave me an eleven-month indication of coming changes, good or bad, happening in the business. Imagine knowing eleven months ahead of time, or even just two or three months ahead of coming changes in your business. For me, it has been a game-changer, and I want to share with you what I see right now as it relates to the residential real estate industry.

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March
23

Coronavirus on My Business
Five weeks ago, I was meeting with fifteen business owners, and we were talking about how good business is and how we should be planning for a black swan event. We all agreed that we should as we continued talking about watching our business metrics as all of our businesses were growing at phenomenal rates. Times would be good, and I would have never thought that I would be writing an article just five weeks later in the middle of a black swan event.

But here we are today dealing with the impact of Coronavirus on our lives and businesses.

All of us, while waiting to see what our government will ultimately do in the form of bailouts, are working and planning in our businesses. What I want to draw all of us towards is our business metrics.

Two weeks ago, at the Leading Real Estate Companies of the World (LeadingRE) Conference in Las Vegas, Aaron Geh and I pivoted our speaking session to partially discuss business metrics to pay attention to. In this article, I will attempt to outline what metrics you can pay attention to and how to interpret trending data that you can produce now if you aren't already tracking such data.

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