Virtual selling keeps property agents busy

CEBU, Philippines —  While almost everything is on a standstill, a major shift is taking place in real estate operations as online buy and sell transaction continues to give livelihood opportunities to property agents even within the confines of their own homes.

With online infrastructure already being set up even before the coronavirus outbreak, thousands of real estate agents are now taking advantage of eCommerce, said Filipino Homes founder Anthony Leuterio.

According to Leuterio even if most buyers are on a wait-and-see attitude, agents continue to sell virtually.

Leuterio, who also owns Leuterio Realty and Brokerage, 95 percent of the real estate agents are actively doing business online.

While the physical offices of Filipino Homes around the country are closed, real estate selling activities remain open minus the physical contact between sellers and buyers.

He said this is a major shift that COVID-19 has brought about to the real estate selling in particular. Some buyers have ample time to shop for properties while they are in their homes—around the world.

This new dimension to real estate selling, which he called “cross-selling” system, allows potential buyer to virtually connect directly to the developer or the project’s virtual showroom.

He said Filipino Homes has already set up people to man this particular service remotely. “This new practice eliminates the need for both buyers and sellers to meet up.”

Under this system, a real estate agent will guide clients to a video tour and other methods to virtually tour a property.

“We’ve done so many adjustments already, and I think this will be the new normal,” he said.

Leuterio admitted that despite the use of digital infrastructure to continuously connect with the market, volume of sales have gone down compared to pre COVID-19 days.

What is important, he said is real estate agents have not lose contacts and connection with the market they serve, and when the crisis is over, they are ready to manage the demand avalanche.

Leuterio believes that these abnormal days are just temporary.

“Business always has ups and downs. All of us are victims of this virus. But this is a season of new business models. This will be about how fast you can get up and how fast you can create or build new ideas to capture market (again),” added Leuterio.