As we all stand together against the Covid-19 virus and the harrowing economic chaos that might be left in its wake, virtual information sharing has become our most important tool in this fight. A reduction in real estate transactions are expected due to various factors and it’s already visible. Customers are finding it irrational to put lives at risk and go property hunting at the moment. It’s hard to expect that the situation will change soon but virtual platforms are helping businesses to break constraints and move forward. CRM solutions like the Property-xRM provide a holistic data driven platform that enables full lease management. It helps in tracking leads, renewing leases, termination activities thereby enabling leasing professionals to close deals faster at the comfort of a couch. Leasing teams that leverage these platforms give themselves a massive competitive advantage — and those who don’t, are simply missing the opportunity when they shouldn’t.
It wasn’t unknown but the importance of digital transformation has been brought to a pedestal now due to the prevailing circumstance. Enterprises with a proper digital strategy are surviving the pandemic and getting stronger every day. For them, the world is truly at their fingertips. Real estate companies are one of the slowest to look up-to digital platforms due to the physical nature of the business. However some good practices are being adopted often by leaders and more by visionaries. To utilize convenient options to run your enterprise is what sets you apart and puts you ahead. It brings absolute focus into the picture and delivers performance.
Real estate transactions for the most part are the sharp eye, street smarts, and meticulous attention of agents and employees of the company. It still is but the need to digitally transform and be present is high on priority today, moreover it is the survival instinct. Being in Real estate business you should know why your agents and team need a digital transformation.
Covid19 is threatening all domains of our functional lives the way we have perceived it till now. Businesses are being disrupted, organisations are seeking contingency plans to resist a downfall and out of all industries, the most affected could be real estate leasing. Quite ironically the leasing industry has had a difficult impact by the control measures against the pandemic just as much as the pandemic itself.
Though not on a global scale or the extent in the number of people affected, the reports post SARS 2003 has some useful insights it can provide. Coming from a country with 1.7 billion in population and 9.6 million SqKm in area that holds real estate properties from upscale offices to ultra-cheap accommodation it should be worth checking and if possible learn a few things.