Needless to say, 2020 hasn’t been the best year for most, real estate investors included. However, we’ve been lucky that things haven’t been nearly as bad as many initially predicted. That being said, it’s time to get ready to make 2021 the best it can be. Check out these tips for how to start off 2021 on a high note:
Explore REIT Opportunities
Luckily, the real estate market didn’t react to the pandemic as poorly as many predicted. While most real estate properties have managed to maintain their value throughout this challenging year, real estate investment trusts are currently highly undervalued in the stock market.
As a result, now is an excellent opportunity to invest in REIT shares. Chances are that the difference between the decreased share price and the value of the properties themselves is likely to result in lucrative profits in the future.
Keep Learning
The most successful people in nearly any profession are those who never stop learning. Those that maintain an open mind and allow themselves to pick up new knowledge over time are more likely to perform better than those that are unwilling to learn new skills and adapt to changing situations.
The pandemic has been an optimal example of this. Those who have challenged themselves to adapt and adjust to what has become our ‘new normal’ have been the ones that have managed to maintain success despite the current economic environment. We’re starting the new year without knowing how the real estate environment will continue to ebb and flow so it’s important to go into 2021 ready to learn.
Maintain Perspective
While it’s been a rough year for many of us, it’s important to maintain a good perspective. You’re hardly alone in feeling like you’ve had a tough year. After all, there’s been a GLOBAL pandemic. Focus on the positives in life. Are you and your loved ones healthy? Have you picked up a new hobby or skill this year? Or maybe being in COVID lockdown allowed you to spend extra time at home with your loved ones? Challenge yourself to start 2021 with a positive mindset and don’t allow the negative things to consume you.
Respect CDC Guidelines in Showings
As they say, ‘the show must go on.’ That said, there are necessary adaptations required to do so. Since it’s predicted that coronavirus concerns are likely to persist throughout much of 2021, it’s vital that real estate investors get used to the idea of virtual video property tours and 360-degree photo tours.
While virtual tours have become more popular recently, there are various other options available to real estate agents and investors. Some of these include requiring masks and temperature checks for in-person tours. Additionally, social distancing should be practiced in all situations. To ensure that proper distancing is practiced, it may be beneficial to place markers throughout the property to instruct visitors of where they should stand and a specific path to follow.
Revamp your Online Presence
What better time than the new year to invest some time and effort in revamping your online presence? Times have changed and online browsing is now bigger than ever. The casual open houses and opportunities to hand out your business card to strangers are no longer. Now your online presence means more than it ever has before.
Take the time to make sure that your site and accounts are tailored to meet your customer’s best interests. At the end of the day, accessibility, ease of use, and clarity are the most important factors. You want to ensure that it’s as easy as possible for your clientele to find you in the mass jumble of online accounts.
Avoid Distractions and Stay Alert
There’s are always going to be distractions. Some might even feel like the distractions have the power to rattle everything in your life. It’s important that rather than letting every little thing shake you, you stay the course and focus on your end game goals. Focus on the big picture and the steps that will help you get there.