I'm Pablo Sanchez, CEO of property Bookers an outsourcing Real Estate service provider and I would like to share our experience dealing with COVID 19 and how we've had approached it.
We've seen a lot of changes on the market during the transition and the different stages of the pandemic, and how it has affected a whole industry, especially the way how we do business in Real Estate. Including a lot of problems in some of our clients' business models, but fortunately, we have helped them to find alternatives to reduce operational costs and keep maintaining the post-pandemic results.
It has taught us 4 important lessons:
1) Have an adaptable business model. Structure in any organization is important, but make sure you can adapt it to any disruptor changes or trends to avoid losing pace or even closing your business in the most fatal scenario. Remember you have to take different actions to have different results, so make sure you understand the market needs and catch up with trends.
2) Cold Calling always works.
This old but effective technique always works. But just make sure that your VA can be trained to run numbers and comps so you could maximize your time and dedicate it to close more deals.
At the same time, you can reduce operational costs by outsourcing the services and using a CRM.
3) Maximize your budget and think outside of the box.
Networking! Use Facebooks groups, Linked in, or other free resources to find motivated sellers, buyers, new clients, or other assets that don't require an investment. Complement it with a solid lead provider, like virtual driving for dollars and you can balance the resources.
4) JV with other wholesalers, brokerages or outsourcing firms.
Together we are stronger, it's not only an inspirational quote, our clients have experienced that if you cooperate with other wholesalers or business relatives you can generate higher chances of putting deals together and generate steady flows of profit, at a higher level. You don't need to invest upfront money to generate a high volume of hot prospects, just split fairly your assignment fee.
For more tips or bits of advice, please don't hesitate to contact me, and please share your experiences during the pandemic and how you've had managed it!
Cheers! Happy Holidays
