It is said that something is better than nothing.
In our current situation of economic slowdown, this saying holds a place of importance, especially for real estate developers.
We have been through five country-wide lockdowns to date and still, the end of the pandemic is not in sight.
U, V, W and L-shaped Economic Recoveries
Economists assess the current scenario and possible economic growth through some simple alphabets namely U, V, W and L.
U-shaped recovery is characterized by sharp drops, longer durations of economic lull and a sudden improvement in the scenario.
A V-shaped recovery indicates a sharp drop followed by a sharp recovery, which is the best-case scenario.
In the worst case, a W-shaped recovery may happen. It symbolises sharp recovery after a sharp fall, then sharp fall again when the second wave of the coronavirus hits, followed by a sharp recovery. As is evident, experts are only predicting the recoveries, but no one knows how the situation will unfold.
Another type to be considered is that of the L-shaped recovery, which sees steep declines in the economy and a flatlined growth for longer durations.
Impact on Real Estate
It is no secret that real estate is one of the most adversely affected sectors due to the pandemic. The lockdown had literally brought the industry to a standstill. Even though the rules have been relaxed, real estate firms are still operating with a limited workforce. The industry will take some time to recover from the impact of the pandemic.
Due to the uncertainty and overall rise in the number of COVID-19 cases, homebuyers are still wary of physical site visits. Salespersons are finding it increasingly difficult to convert leads and achieve targets. Handling the increased volume of online and telephonic inquiries is another new challenge faced by salespeople these days. On top of this, there are the new government norms which are preventing organisations to function in full capacity and bring the business back on its feet. Today, it is quite challenging for real estate businesses to sell properties with offline sales and get cashflow back on track without turning to innovative solutions!
Remote Collaboration: The Need of the Hour
Working from home, or WFH, became the new buzzword during the lockdown.
Since the ticket value of real estate properties is very high as compared to products from other sectors, the buying process has always involved physical interactions. Which is why, it is nearly unimaginable for many real estate businesses to function in any other way.
However, real estate companies must learn to adapt to it, if they wish to revive their businesses. And it is not challenging at all. Thanks to the advancements in technology, developers have access to solutions like video calling and online payments, salespersons can get the basic work done even from the comfort of their home.
This is possible with a platform designed for online real estate sales where sales and marketing can collaborate effortlessly and perform all tasks in the homebuyer cycle remotely.
Sell.Do: the single solution you need for advanced remote collaboration
Sell.Do comes with features like video conferencing and virtual tours, which are a boon for sales executives. When homebuyers aren’t able to come to the project site, these features allow executives to take the sites to them! Apart from this, the cloud telephony and lead scoring features help them to keep track of their progress with leads automatically. And finally, one of the features that makes Sell.Do the best CRM for real estate is Sell.Do! It enables stakeholders to get access to business data at any time, from anywhere.
To begin with, Sell.Do offers a platform for all stakeholders in the organization to collaborate efficiently. With access to real-time data through personal dashboards, team members can instantly view various business metrics relevant to them. CXOs can check how the business is performing by viewing spends, revenues and inventory details.
Sales managers can see how each member of their team is performing and allocate jobs accordingly while marketing managers can get a detailed analysis of their campaign performance. All this information is available at the click of a button. So, no need to wait for team members to create and send reports or presentations anymore!
Sell.Do is a one-of-a-kind real estate CRM software real estate developers need to move their real estate business online. Right from lead generation to booking and post-sales management, Sell.Do lets them do everything digitally.
It’s pretty evident that remote collaboration is the way ahead. Developers need to adapt to it as soon as possible. Only then can they think of restoring order and getting processes in place. Also, businesses must realise that the change would actually be a smart decision that’s easy to implement. Adopting advanced technological solutions can certainly help them transition smoothly.
Sell.Do is one of the best real estate CRM software developed by industry veterans, Sell.Do offers features and regular updates that solve real estate challenges faced by businesses. You can schedule a free demo and see how it can do wonders for your business.