Leading in a Crisis – an Interview with NAR President Vince Malta
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In these uncertain times, real estate professionals are experiencing challenges on a national level. I recently interviewed Vince Malta, 2020 President of the National Association of REALTORS®,about the effects of the Coronavirus pandemic on the housing market and the real estate community. Here are some of the major takeaways:
We Will Survive and Be Stronger
Realtors are extremely resilient and adaptable. Right now, real estate professionals all over the country are finding ways to help their clients either market their property or prepare for what’s coming next. They’re also busy providing their customers with the latest information regarding COVID-19 to keep them informed through this crisis. As was shown after 9/11, this community is strong and can make things work, even in the most adverse situations.
Invest in Education and Training
This is a perfect time to really reflect, look inward and maybe reassess or redesign your business model. Focus on education and invest in real estate training. You’re going to be in a situation where you might want to do 12 months’ worth of business in about 9 months’ worth of work, so get trained up so you can be a voice of value in the marketplace.
Home Is Where the Heart Is
Home is a safe haven for people right now. Because they have to spend so much time indoors, they have a greater affection for their home and, in turn, a greater affection for the people who made that home possible, such as Realtors. While some will discover that their home is their castle, even if it needs a little work, others will find that their home is their sandcastle and they’ll be ready to move when this is all over. When we come out of this situation, there will be a great pent-up demand in the home business. People will want to invest in their homes even more.
REALTORS® Value Proposition Is More Important Than Ever
In these uncertain times, your expertise is needed now more than ever. For example, some online providers, such as i-buyers, have pulled back their services because of the circumstances. In the future, it’s forecast there will be an even greater need for professional real estate services. Realtors will be in a powerful position to express their value proposition as they guide people through the post Covid–19 market.
Some blessings always come out of trials. Realtors aren’t going anywhere. We’re here for the long haul and we’re here to serve.
Listen to the latest episode of “It’s a Good Life” to hear more.
