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The recent events in South-East Queensland and NSW have shone a spotlight on the important role real estate agencies play in their communities.
Not only have some agencies been impacted themselves, but they have also been working hard to support both their clients and their community.
Our Eview members are among those directly affected and are doing a sterling job of mopping up, managing increased workflow, and still coming to the aid of their communities.
For flood-impacted areas, support will remain needed over the period ahead, with property managers, sales agents, and real estate leaders among the trusted local experts that a community turns to in a time of crisis.
So as communities count the cost and look to recover, where to from here?
Some long days ahead
For the property managers handling repairs, displaced tenants, and concerned landlords, the days ahead will involve hard work and proactive communication.
Sales agents will also be fielding questions from sellers and buyers about what happens with properties that are damaged and what’s ahead for the market.
Meanwhile, all real estate professionals, including business leaders, will be assisting their community wherever possible.
Problem-solving
Much of the next month will involve problem-solving, whether that’s relocating tenants into alternative housing, rescheduling settlements, or collecting information for insurance claims.
And although the days might be long, this is where agents as local experts come into their own.
Long after this event is over, people will remember the lengths real estate professionals went to and, more importantly, the way they made them feel.
Reassuring the community
Just as it was in the initial days of COVID-19 and lockdowns, the period ahead will be about offering the community facts, reason, and reassurance.
As yet, it is unclear how recent events will affect property prices and the market in impacted areas.
What we do know is that with an already low vacancy rate in many of the areas affected, tenants could struggle to find alternative accommodation.
In sales, it’s a case of wait-and-see to determine whether the strong demand for property that we’ve seen in recent months is affected in impacted areas.
That makes now the time to be liaising with vendors, buyers, and talking to landlords and tenants to gauge the feel of the market, but more importantly, to listen to their concerns and offer your expert perspective on what they should do next and where further help might be available.
Seeking support
While clients will require support, so too will the property managers and sales teams manning the phones, trying to find solutions, and navigating a natural disaster.
This is the time for business leaders to get crystal clear on supporting their teams with proactive communication, streamlined strategies and open-door policies that allow them to share and troubleshoot their experiences.
It’s also a time when business owners themselves might be in need of support. In a challenging landscape, the insight of mentors, the experience of others and the best-practice approach of visionary leaders can be invaluable.
Manos Findikakis is the chief executive and co-founder of the Eview Group.
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