"What's my home worth?" will be on every homeowner's mind after Covid-19
“What’s my home worth?” will be the question on every homeowner's mind after Covid-19. Know how to answer it and get comfortable doing it over video.
2020 was always going to be the year a lot of pent up people moved, Covid-19 has only paused that. That pause has given you an opportunity to reset and revisit how you approach questions like this to make sure you’re the agent of choice as often as possible moving forward.
People always want to know what their home is worth. But if history is anything to go by, after big events, it’s something that almost all homeowners will want to take stock of almost immediately.
Here’s a suggestion to use as an answer now and forever:
“Covid-19 may have changed the circumstances for many, but the effect it’s had on property value remains to be seen.
The value of any home is usually dependent on four things:
- The location
- The condition
- The agent picked to represent the home
- The marketing that agent employs
The good news for you is, out of those four things, you control three and I control one.”
The idea behind this dialogue is to get to the next stage of the relationship. That used to be a face-to-face, but now we’d be suggesting a Zoom call or similar. Get their buy in. Get them to take you on a video tour of the home, and ask these questions while they’re virtually walking you around their home:
- How are you feeling about things in the world right now?
- What are the key things you would like to achieve from our meeting today?
- What was it that caused you to contact us?
- What are the main things you’re looking for in an agent right now?
- Has everything made sense so far?
Those five questions will give you all you need to know to understand if you’re talking to a potential client, or just someone who wants to know what their home is worth. They allow you to not fly blind, and to tailor your entire conversation around their needs and expectations.
Bringing it all together
Now is the time to be thinking about the future.
How are you adapting to change? Are you ready to do more and more business with people online? Are you ready to build relationships through video calls rather than handshakes?
The world, and the social practices we’re used to, will get back to normal in time, but it will take time. Business will recover much sooner because we’re able to adapt to survive.
Being able to answer the question “what’s my home worth” in a way that doesn’t just revolve around price has never been more important.
Don’t just give a valuation, use it to get to know your potential clients better than you ever have and use it to move your relationships forward.
PS. We don’t usually use these blogs to talk about Homesearch, but we are about to launch a new lead gen tool to help you hear that question from more sellers and landlords as well.