2 Most Important Methods To Future-Proof Your Real Estate Business In A Post-Pandemic World
With the business economy staggering from the Covid-19 crisis, many are wondering how to make a comeback and ponder about how the economy will be like after Covid-19 and how a virus can change the world in a very short time; most of us must think of ways to future-proof our real estate business.
As this COVID-19 pandemic continues, the extent of these changes that should result in the new normal has yet to be determined as the world continues to grapple with the devastating impact of this global health threat on economies and industries.
Here are the 2 most important methods to possibly future-proof your real estate business:
- Always be prepared.
Have a plan. A plan is a course of action pointing the way to the position you hope to attain. It should explicate what you need to do today to achieve your objectives tomorrow. In the current context, the question is what you must do to get through the crisis and go back to business when it ends.
The lack of a plan only exacerbates disorientation in an already confusing situation. When drawing up the steps you intend to take, think broadly and deeply, and take a long view.
- Be adaptable to change.
If your agency is used to traditional ways of doing a face-to-face transaction, with people more cautious in meeting different and new people, maybe it’s time to test the waters and adapt to doing online meetings. Zoom is one great app to do meetings and online video conference calls.
However, there are limits to what can be accomplished by developing better powers of foresight. The nature of complex interdependent systems means that planning uncertainty quickly multiplies. For this reason, companies urgently need to improve their agility — their ability to learn quickly and to change course quickly. Time-honoured methods that tended to deliver large projects reliably, by carefully controlling all variation, need to be supplemented by methods featuring iterative experimentation and smart failures. (Sifted)
Finally, businesses should recognise that they will face a huge social backlash, sooner rather than later, if they are perceived to be exploiting the crisis by price gouging or by forcing their employees to work in dangerous conditions. The crisis teaches all of us that there are more important things than quarterly profit figures. The companies that fail to learn that lesson will find that they lose their profits as well as their souls. (Sifted)
“The crisis teaches all of us that there are more important things than quarterly profit figures. The companies that fail to learn that lesson will find that they lose their profits as well as their souls.” (Sifted)
Read more: Sifted