Unless you have been hiding under a rock the last seven months, you would know that a little thing called COVID-19 has caused our real estate world to get flipped on its head–and in a good way. Crazy enough, a horrible pandemic has created the most insane market many of us have ever seen. Lenders are processing loans at rates they have never seen, and buyers are looking to literally “cash in” on the amazing selling and buying opportunities. I can tell you as a Title Company person, our people are seeing large sums of transactions come in every day with no end in sight. It’s a great problem to have, but when this occurs for all of us, something else does as well. We start to neglect our real estate database as we don’t have the time to spend properly marketing back to them. The other issue is with COVID, it creates a barrier from doing the face to face events with our database we are used to. It’s time to get creative and start marketing back to our databases because ALL of this…will end. What is your plan going forward when rates rise up and the market normalizes?
We are entering the time of year where we find out that “Bob” who we always liked has some really interesting political and social views. We learn about “Cheryl” who continually posts political meme’s over and over that she thinks is great, but lets everyone know she might not be a good person to refer clients too. And we see “Tom” who we want as a client but got into a 100 comment Facebook war over–“if hydroxychloroquine is a cure for COVID.” We see this over and over as we get within 90 days of an election, or any certain polarizing event that happens in our country. Realtors, lenders, and yes…Title sales reps are losing real estate business by needing to tell the world how they feel and convince everyone else they must feel that way also. I’m going to let you in on a little secret. Most people don’t care what you think, but when they see what you put out on social media, it makes them feel a certain way. If the feeling is negative…say goodbye to the relationship and business.
If you are reading this and wondering during the age of COVID, why every real estate closing isn’t being done electronically, you are not alone. The technology has been in place for quite some time, and in my company’s case, since early 2018. I remember it being a huge craze and us ramping up getting our “e-Notaries” and learning how to conduct the full e-Closings, only to have it really not happen the way we envisioned. Let’s talk about electronic closings and the different versions.