Being a Real Estate Agent in the Age of COVID-19
With over one million infected patients globally, the coronavirus has battered the world almost to submission. It halted economic movement, forced people to hide in their homes, and produced a climate of fear unlike any other. In the United States, New York was identified as ground zero as the healthcare industry is stretched to breaking point
All industries in the United States are affected by COVID-19, including the real estate sector. Brokerage firms are having a difficult time convincing clients that this would be the ideal environment to buy as the interest rates are down to zero, which drastically reduces your monthly mortgage. They have also become more innovative in how they conduct their business.
For instance, while a 100% True Virtual Real Estate Brokerage is nothing new, real estate brokers and agents are using digital technology like never before. While open houses are canceled, it does not mean that potential buyers could not tour a listed property.Â
Economy Shuts Down
The industry has much to lose. For instance, according to estimates, the real estate brokerage and sales were valued at around $160 billion in 2018. By the end of 2020, it was expected to grow to $163 billion.Â
However, the projections were made prior to the coronavirus. Nobody, even the most optimistic, thinks that the industry would remotely reach that projection this year.
Except for the most essential services, the US economy has virtually shut down. It makes it more challenging for real estate agents to find new markets and ensure a steady income in these uncertain times.
Benefits of a Virtual Real Estate Brokerage Firm
If you’re a real estate agent, here are the advantages of joining a 100% True Virtual Real Estate Brokerage firm.Â
- Expand your market base — With its network and subscribers base, the website will help link you with new markets. The e-realty firm will provide you with all the opportunities to succeed.
- You own your time — You do not need to come to the brokerage office or compete with fellow real estate agents. Â
- You get a full commission — You get 100% of whatever is due to you when you close a sale. You only need to pay a one-time membership fee. You also won’t pay franchise fees or desk fees, which means a higher take-home pay.
- Access to resources — By joining an e-realtor service, you have access to its multiple listing service for free. It would be invaluable for new agents who are still trying to build p their resume. You will also get to use a back-office system for agents, along with marketing support.  Â
For people who are thinking of venturing into the world of real estate, joining a virtual brokerage firm would be an excellent start. They can be their own boss and set their respective schedules. On top of that, the network of agents can be a perpetual source of knowledge. Ultimately, they will find a mentor near their area who will show them the ropes.Â
In these uncertain times, you badly need an established network to help you navigate unfamiliar territory. You can speak to veterans on the field who can draw on their experiences from the housing crash in 2008 and how they bounced back. You just might take lessons that you can use to survive the pandemic.
